Klingman & Associates LLC Sells 112 Shares of Ares Management Co. (NYSE:ARES)

Klingman & Associates LLC decreased its stake in shares of Ares Management Co. (NYSE:ARES) by 2.2% in the 4th quarter, Holdings Channel reports. The fund owned 5,086 shares of the asset manager’s stock after selling 112 shares during the quarter. Klingman & Associates LLC’s holdings in Ares Management were worth $900,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Atria Wealth Solutions Inc. increased its position in shares of Ares Management by 67.4% during the fourth quarter. Atria Wealth Solutions Inc. now owns 4,225 shares of the asset manager’s stock worth $748,000 after acquiring an additional 1,701 shares in the last quarter. Venturi Wealth Management LLC increased its position in shares of Ares Management by 1,544.4% during the fourth quarter. Venturi Wealth Management LLC now owns 2,664 shares of the asset manager’s stock worth $472,000 after acquiring an additional 2,502 shares in the last quarter. CIBC Asset Management Inc increased its position in shares of Ares Management by 13.4% during the fourth quarter. CIBC Asset Management Inc now owns 7,677 shares of the asset manager’s stock worth $1,359,000 after acquiring an additional 910 shares in the last quarter. Sanctuary Advisors LLC increased its position in shares of Ares Management by 9.3% during the fourth quarter. Sanctuary Advisors LLC now owns 11,606 shares of the asset manager’s stock worth $2,055,000 after acquiring an additional 986 shares in the last quarter. Finally, Catalyst Capital Advisors LLC increased its position in shares of Ares Management by 8.6% during the fourth quarter. Catalyst Capital Advisors LLC now owns 2,848 shares of the asset manager’s stock worth $504,000 after acquiring an additional 225 shares in the last quarter. Institutional investors own 50.03% of the company’s stock.

Ares Management Price Performance

Shares of ARES opened at $187.32 on Wednesday. The firm has a market capitalization of $58.64 billion, a PE ratio of 92.28, a PEG ratio of 1.46 and a beta of 1.18. The company’s 50-day moving average is $184.86 and its 200-day moving average is $167.47. Ares Management Co. has a fifty-two week low of $125.23 and a fifty-two week high of $200.49. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.05 and a quick ratio of 1.05.

Ares Management (NYSE:ARES) last released its quarterly earnings results on Wednesday, February 5th. The asset manager reported $1.23 EPS for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.12). Ares Management had a return on equity of 16.64% and a net margin of 11.35%. Equities analysts forecast that Ares Management Co. will post 5.53 EPS for the current year.

Ares Management Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be given a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a yield of 2.39%. This is a positive change from Ares Management’s previous quarterly dividend of $0.93. The ex-dividend date of this dividend is Monday, March 17th. Ares Management’s dividend payout ratio (DPR) is currently 183.25%.

Insider Buying and Selling

In related news, insider Ryan Berry sold 14,357 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $180.16, for a total transaction of $2,586,557.12. Following the transaction, the insider now directly owns 233,214 shares of the company’s stock, valued at approximately $42,015,834.24. This trade represents a 5.80 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider R. Kipp Deveer sold 78,933 shares of the firm’s stock in a transaction dated Thursday, February 6th. The shares were 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 directly owns 1,150,000 shares in the company, valued at approximately $218,523,000. This represents a 6.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 447,080 shares of company stock valued at $80,060,323. 1.20% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on ARES. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Ares Management from $146.00 to $150.00 and gave the stock a “hold” rating in a research report on Monday, November 11th. StockNews.com cut shares of Ares Management from a “hold” rating to a “sell” rating in a report on Wednesday, January 8th. Royal Bank of Canada increased their target price on shares of Ares Management from $170.00 to $185.00 and gave the stock an “outperform” rating in a report on Monday, November 4th. TD Cowen increased their target price on shares of Ares Management from $184.00 to $187.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Finally, Keefe, Bruyette & Woods upgraded shares of Ares Management from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $166.00 to $202.00 in a report on Friday, December 20th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, Ares Management presently has an average rating of “Moderate Buy” and a consensus price target of $176.17.

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.