Yarger Wealth Strategies LLC purchased a new position in shares of Ares Management Co. (NYSE:ARES – Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,281 shares of the asset manager’s stock, valued at approximately $227,000.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of ARES. Private Advisor Group LLC raised its holdings in shares of Ares Management by 59.3% during the second quarter. Private Advisor Group LLC now owns 4,171 shares of the asset manager’s stock valued at $556,000 after acquiring an additional 1,553 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Ares Management by 5.2% during the second quarter. Dimensional Fund Advisors LP now owns 416,585 shares of the asset manager’s stock worth $55,529,000 after purchasing an additional 20,724 shares in the last quarter. Argent Trust Co raised its stake in Ares Management by 6.9% in the 2nd quarter. Argent Trust Co now owns 18,159 shares of the asset manager’s stock valued at $2,420,000 after purchasing an additional 1,168 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. lifted its holdings in Ares Management by 5.2% in the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 2,430 shares of the asset manager’s stock valued at $324,000 after purchasing an additional 120 shares in the last quarter. Finally, Amalgamated Bank boosted its stake in Ares Management by 9.1% during the 2nd quarter. Amalgamated Bank now owns 12,050 shares of the asset manager’s stock worth $1,606,000 after purchasing an additional 1,008 shares during the last quarter. 50.03% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling at Ares Management
In other news, insider Ryan Berry sold 18,329 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $175.18, for a total transaction of $3,210,874.22. Following the sale, the insider now owns 254,885 shares of the company’s stock, valued at approximately $44,650,754.30. This represents a 6.71 % decrease in their ownership of the stock. 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 115,838 shares of the firm’s stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $177.83, for a total transaction of $20,599,471.54. Following the completion of the transaction, the insider now directly owns 1,259,162 shares of the company’s stock, valued at approximately $223,916,778.46. The trade was a 8.42 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 574,167 shares of company stock valued at $99,996,647 over the last quarter. 41.89% of the stock is owned by company insiders.
Ares Management Stock Performance
Ares Management (NYSE:ARES – Get Free Report) last announced its earnings results on Friday, November 1st. The asset manager reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.94 by $0.01. The company had revenue of $1.13 billion during the quarter, compared to analyst estimates of $833.58 million. Ares Management had a net margin of 12.51% and a return on equity of 19.89%. During the same quarter last year, the firm posted $0.83 earnings per share. Equities analysts forecast that Ares Management Co. will post 4.06 earnings per share for the current year.
Ares Management Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th were issued a $0.93 dividend. The ex-dividend date was Tuesday, December 17th. This represents a $3.72 annualized dividend and a yield of 1.98%. Ares Management’s dividend payout ratio (DPR) is presently 171.43%.
Wall Street Analyst Weigh In
A number of equities research analysts have recently commented on ARES shares. The Goldman Sachs Group increased their target price on shares of Ares Management from $145.00 to $160.00 and gave the company a “buy” rating in a research report on Monday, September 30th. UBS Group increased their price objective on shares of Ares Management from $158.00 to $195.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. JPMorgan Chase & Co. decreased their target price on shares of Ares Management from $176.00 to $174.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 5th. Barclays upped their price target on Ares Management from $155.00 to $174.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. Finally, Keefe, Bruyette & Woods upgraded Ares Management from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $166.00 to $202.00 in a research report on Friday, December 20th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, Ares Management presently has a consensus rating of “Moderate Buy” and an average price target of $171.92.
Check Out Our Latest Analysis on ARES
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.
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