Ameriprise Financial Inc. Has $78.53 Million Position in Ares Management Co. (NYSE:ARES)

Ameriprise Financial Inc. cut its position in shares of Ares Management Co. (NYSE:ARES) by 32.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 443,582 shares of the asset manager’s stock after selling 215,021 shares during the period. Ameriprise Financial Inc. owned 0.14% of Ares Management worth $78,527,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of ARES. Transce3nd LLC acquired a new stake in shares of Ares Management in the fourth quarter valued at approximately $29,000. Johnson Financial Group Inc. lifted its holdings in Ares Management by 104.8% during the 4th quarter. Johnson Financial Group Inc. now owns 170 shares of the asset manager’s stock valued at $30,000 after purchasing an additional 87 shares during the last quarter. Noble Wealth Management PBC bought a new position in Ares Management during the fourth quarter worth $36,000. GAMMA Investing LLC increased its holdings in shares of Ares Management by 53.4% in the fourth quarter. GAMMA Investing LLC now owns 227 shares of the asset manager’s stock valued at $40,000 after purchasing an additional 79 shares during the last quarter. Finally, Avalon Trust Co bought a new position in shares of Ares Management in the fourth quarter valued at about $53,000. 50.03% of the stock is owned by institutional investors.

Insider Buying and Selling at Ares Management

In related news, Chairman Bennett Rosenthal sold 69,809 shares of Ares Management stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $161.01, for a total value of $11,239,947.09. Following the transaction, the chairman now directly owns 30,191 shares of the company’s stock, valued at $4,861,052.91. The trade was a 69.81 % 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 David B. Kaplan sold 69,526 shares of the stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $160.99, for a total transaction of $11,192,990.74. Following the sale, the insider now directly owns 30,474 shares of the company’s stock, valued at $4,906,009.26. This represents a 69.53 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 250,180 shares of company stock worth $39,411,066. 0.52% of the stock is currently owned by company insiders.

Ares Management Stock Down 0.6 %

Shares of NYSE ARES opened at $164.93 on Friday. The company has a market cap of $52.02 billion, a price-to-earnings ratio of 81.25, a PEG ratio of 1.28 and a beta of 1.40. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.53. Ares Management Co. has a 12 month low of $110.63 and a 12 month high of $200.49. The stock has a 50-day moving average price of $146.41 and a two-hundred day moving average price of $167.53.

Ares Management (NYSE:ARES) last issued its quarterly earnings data on Monday, May 5th. The asset manager reported $1.09 EPS for the quarter, beating the consensus estimate of $0.94 by $0.15. The business had revenue of $951.96 million during the quarter, compared to the consensus estimate of $914.00 million. Ares Management had a net margin of 11.35% and a return on equity of 16.64%. During the same quarter in the prior year, the firm earned $0.80 EPS. As a group, analysts forecast that Ares Management Co. will post 5.28 earnings per share for the current fiscal year.

Ares Management Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be issued a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a yield of 2.72%. The ex-dividend date of this dividend is Monday, June 16th. Ares Management’s payout ratio is 263.53%.

Analysts Set New Price Targets

Several analysts recently commented on ARES shares. Bank of America reduced their target price on shares of Ares Management from $221.00 to $201.00 and set a “buy” rating for the company in a report on Friday, April 4th. Barclays upped their target price on Ares Management from $142.00 to $182.00 and gave the company an “overweight” rating in a research report on Tuesday. The Goldman Sachs Group dropped their price target on Ares Management from $188.00 to $166.00 and set a “buy” rating for the company in a report on Thursday, April 3rd. JMP Securities increased their price objective on Ares Management from $165.00 to $185.00 and gave the stock a “market outperform” rating in a research report on Thursday. Finally, Oppenheimer raised shares of Ares Management from a “market perform” rating to an “outperform” rating and set a $159.00 target price for the company in a research report on Wednesday, April 16th. One analyst has rated the stock with a sell rating, three have issued a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $174.50.

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.