Vulcan Value Partners LLC Lowers Stock Position in Ares Management Co. (NYSE:ARES)

Vulcan Value Partners LLC decreased its holdings in shares of Ares Management Co. (NYSE:ARES - Free Report) by 47.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 359,079 shares of the asset manager's stock after selling 323,363 shares during the period. Ares Management makes up about 1.1% of Vulcan Value Partners LLC's holdings, making the stock its 21st largest holding. Vulcan Value Partners LLC owned 0.11% of Ares Management worth $63,617,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Versant Capital Management Inc raised its stake in shares of Ares Management by 67.0% during the fourth quarter. Versant Capital Management Inc now owns 162 shares of the asset manager's stock worth $29,000 after acquiring an additional 65 shares in the last quarter. Transce3nd LLC bought a new position in shares of Ares Management during the 4th quarter valued at $29,000. Johnson Financial Group Inc. raised its position in Ares Management by 104.8% in the 4th quarter. Johnson Financial Group Inc. now owns 170 shares of the asset manager's stock worth $30,000 after purchasing an additional 87 shares during the period. Noble Wealth Management PBC bought a new stake in Ares Management in the fourth quarter worth $36,000. Finally, GAMMA Investing LLC boosted its position in Ares Management by 53.4% during the fourth quarter. GAMMA Investing LLC now owns 227 shares of the asset manager's stock valued at $40,000 after buying an additional 79 shares during the period. 50.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Ashish Bhutani purchased 10,000 shares of the business's stock in a transaction on Tuesday, March 11th. The stock was acquired at an average cost of $141.33 per share, for a total transaction of $1,413,300.00. Following the purchase, the director now directly owns 22,905 shares in the company, valued at $3,237,163.65. This trade represents a 77.49 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider R. Kipp Deveer sold 78,933 shares of the stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $190.02, for a total transaction of $14,998,848.66. Following the completion of the transaction, the insider now owns 1,150,000 shares in the company, valued at $218,523,000. This trade represents a 6.42 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 329,113 shares of company stock valued at $54,409,915 in the last 90 days. 0.52% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on ARES. Bank of America lowered their target price on Ares Management from $221.00 to $201.00 and set a "buy" rating for the company in a research note on Friday, April 4th. Barclays cut their target price on shares of Ares Management from $217.00 to $142.00 and set an "overweight" rating on the stock in a report on Monday, April 7th. StockNews.com lowered shares of Ares Management from a "hold" rating to a "sell" rating in a report on Wednesday, January 8th. Wells Fargo & Company cut their price target on shares of Ares Management from $187.00 to $156.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Finally, JMP Securities raised shares of Ares Management from a "market perform" rating to a "market outperform" rating and set a $165.00 price objective for the company in a research note on Tuesday, April 8th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $165.00.

Ares Management Stock Up 1.2 %

Shares of NYSE ARES traded up $1.79 during trading on Thursday, reaching $154.32. The company had a trading volume of 445,873 shares, compared to its average volume of 1,763,242. The business's 50-day moving average is $147.42 and its 200 day moving average is $167.81. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.53. The stock has a market cap of $48.67 billion, a PE ratio of 76.02, a P/E/G ratio of 1.28 and a beta of 1.32. Ares Management Co. has a 12-month low of $110.63 and a 12-month high of $200.49.

Ares Management (NYSE:ARES - Get Free Report) last issued its earnings results on Wednesday, February 5th. The asset manager reported $1.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.35 by ($0.12). Ares Management had a return on equity of 16.64% and a net margin of 11.35%. As a group, equities analysts forecast that Ares Management Co. will post 5.28 earnings per share for the current fiscal year.

Ares Management Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were given a $1.12 dividend. This is a positive change from Ares Management's previous quarterly dividend of $0.93. The ex-dividend date was Monday, March 17th. This represents a $4.48 dividend on an annualized basis and a yield of 2.90%. Ares Management's payout ratio is 183.25%.

About Ares Management

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.