Tower Research Capital LLC TRC Has $104,000 Stock Position in Ares Management Co. (NYSE:ARES)

Tower Research Capital LLC TRC lowered its stake in Ares Management Co. (NYSE:ARES - Free Report) by 91.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 877 shares of the asset manager's stock after selling 9,712 shares during the quarter. Tower Research Capital LLC TRC's holdings in Ares Management were worth $104,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. Goldman Sachs Group Inc. lifted its holdings in Ares Management by 39.6% in the fourth quarter. Goldman Sachs Group Inc. now owns 973,201 shares of the asset manager's stock worth $115,733,000 after purchasing an additional 275,880 shares during the period. Belpointe Asset Management LLC raised its position in Ares Management by 3.8% in the fourth quarter. Belpointe Asset Management LLC now owns 6,319 shares of the asset manager's stock worth $751,000 after acquiring an additional 229 shares in the last quarter. CIBC Asset Management Inc raised its position in Ares Management by 19.9% in the fourth quarter. CIBC Asset Management Inc now owns 4,749 shares of the asset manager's stock worth $565,000 after acquiring an additional 787 shares in the last quarter. Campbell & CO Investment Adviser LLC bought a new stake in Ares Management in the fourth quarter worth about $281,000. Finally, California State Teachers Retirement System raised its position in Ares Management by 1.3% in the fourth quarter. California State Teachers Retirement System now owns 235,588 shares of the asset manager's stock worth $28,016,000 after acquiring an additional 2,996 shares in the last quarter. Institutional investors and hedge funds own 50.03% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Royal Bank of Canada boosted their price target on shares of Ares Management from $135.00 to $145.00 and gave the stock an "outperform" rating in a research report on Monday, February 12th. JPMorgan Chase & Co. boosted their price target on shares of Ares Management from $119.00 to $141.00 and gave the stock an "overweight" rating in a research report on Friday, February 9th. Morgan Stanley boosted their price target on shares of Ares Management from $109.00 to $118.00 and gave the stock an "equal weight" rating in a research report on Wednesday, January 24th. Jefferies Financial Group cut shares of Ares Management from a "buy" rating to a "hold" rating and set a $122.00 price target on the stock. in a research report on Tuesday, January 9th. Finally, Wells Fargo & Company boosted their price objective on Ares Management from $112.00 to $126.00 and gave the stock an "equal weight" rating in a report on Friday, February 9th. One research analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $123.45.

Ares Management Stock Up 1.5 %

Shares of ARES traded up $1.96 during trading hours on Friday, reaching $134.16. The company's stock had a trading volume of 1,191,311 shares, compared to its average volume of 1,008,894. The firm has a market cap of $41.54 billion, a price-to-earnings ratio of 56.13, a P/E/G ratio of 0.96 and a beta of 1.17. Ares Management Co. has a 1-year low of $77.97 and a 1-year high of $139.48. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.69. The company has a 50 day moving average of $132.17 and a two-hundred day moving average of $117.80.

Ares Management (NYSE:ARES - Get Free Report) last issued its earnings results on Thursday, February 8th. The asset manager reported $1.21 earnings per share for the quarter, beating analysts' consensus estimates of $1.10 by $0.11. The company had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $862.71 million. Ares Management had a return on equity of 21.01% and a net margin of 13.06%. During the same quarter in the prior year, the company earned $1.21 EPS. As a group, research analysts predict that Ares Management Co. will post 4.62 EPS for the current fiscal year.

Ares Management Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were paid a $0.93 dividend. This is a boost from Ares Management's previous quarterly dividend of $0.77. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $3.72 annualized dividend and a dividend yield of 2.77%. Ares Management's payout ratio is presently 155.65%.

Insider Activity at Ares Management

In related news, Chairman Antony P. Ressler sold 38,915 shares of the business's stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $132.46, for a total value of $5,154,680.90. Following the completion of the sale, the chairman now owns 96,085 shares of the company's stock, valued at approximately $12,727,419.10. The sale was disclosed in a document filed with the SEC, which is available at this link. In other Ares Management news, Chairman Antony P. Ressler sold 38,915 shares of the company's stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $132.46, for a total transaction of $5,154,680.90. Following the completion of the sale, the chairman now owns 96,085 shares of the company's stock, valued at $12,727,419.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider R. Kipp Deveer sold 82,796 shares of the company's stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $136.47, for a total value of $11,299,170.12. Following the sale, the insider now directly owns 1,245,729 shares of the company's stock, valued at approximately $170,004,636.63. The disclosure for this sale can be found here. In the last quarter, insiders sold 872,206 shares of company stock valued at $116,269,037. 47.34% of the stock is owned by corporate insiders.

Ares Management Profile

Ares Management Corporation operates as an alternative asset manager in the United States, Europe, and Asia. The company's Tradable Credit Group segment manages various types of investment funds, such as commingled and separately managed accounts for institutional investors, and publicly traded vehicles and sub-advised funds for retail investors in the tradable and non-investment grade corporate credit markets.