Ares Management Co. (NYSE:ARES) Shares Sold by Axxcess Wealth Management LLC

Axxcess Wealth Management LLC reduced its stake in Ares Management Co. (NYSE:ARES) by 2.0% during the 4th quarter, HoldingsChannel.com reports. The fund owned 3,809 shares of the asset manager’s stock after selling 79 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Ares Management were worth $453,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Hollencrest Capital Management purchased a new position in Ares Management in the 3rd quarter valued at approximately $27,000. Rise Advisors LLC grew its stake in Ares Management by 73.9% during the 4th quarter. Rise Advisors LLC now owns 240 shares of the asset manager’s stock worth $29,000 after purchasing an additional 102 shares in the last quarter. Hartford Financial Management Inc. increased its holdings in Ares Management by 47.4% during the 4th quarter. Hartford Financial Management Inc. now owns 280 shares of the asset manager’s stock worth $33,000 after purchasing an additional 90 shares during the period. Arlington Trust Co LLC purchased a new position in shares of Ares Management in the 4th quarter valued at about $34,000. Finally, Livforsakringsbolaget Skandia Omsesidigt acquired a new stake in Ares Management in the fourth quarter valued at approximately $36,000. Hedge funds and other institutional investors own 50.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. UBS Group raised their price objective on shares of Ares Management from $156.00 to $160.00 and gave the company a “buy” rating in a report on Friday, April 12th. Wells Fargo & Company increased their price objective on Ares Management from $112.00 to $126.00 and gave the company an “equal weight” rating in a report on Friday, February 9th. Morgan Stanley upped their price target on Ares Management from $109.00 to $118.00 and gave the company an “equal weight” rating in a report on Wednesday, January 24th. Barclays reduced their price objective on shares of Ares Management from $153.00 to $150.00 and set an “overweight” rating for the company in a research report on Friday, May 3rd. Finally, TD Cowen began coverage on shares of Ares Management in a research report on Tuesday. They issued a “buy” rating and a $154.00 target price on the stock. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Ares Management currently has a consensus rating of “Hold” and a consensus price target of $128.08.

Ares Management Stock Up 0.9 %

ARES opened at $138.58 on Thursday. The business has a 50 day moving average price of $133.47 and a two-hundred day moving average price of $122.32. Ares Management Co. has a 52 week low of $80.07 and a 52 week high of $140.35. The company has a market cap of $42.90 billion, a PE ratio of 62.14, a P/E/G ratio of 1.00 and a beta of 1.17. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.69.

Ares Management (NYSE:ARES) last released its quarterly earnings results on Thursday, May 2nd. The asset manager reported $0.80 EPS for the quarter, missing the consensus estimate of $0.93 by ($0.13). Ares Management had a return on equity of 21.63% and a net margin of 12.86%. The company had revenue of $707.36 million for the quarter, compared to analysts’ expectations of $814.88 million. During the same quarter last year, the company earned $0.71 EPS. As a group, research analysts anticipate that Ares Management Co. will post 4.47 EPS for the current year.

Ares Management Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be issued a $0.93 dividend. This represents a $3.72 annualized dividend and a dividend yield of 2.68%. The ex-dividend date of this dividend is Thursday, June 13th. Ares Management’s payout ratio is 166.82%.

Insider Transactions at Ares Management

In related news, insider R. Kipp Deveer sold 82,796 shares of Ares Management 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 in the company, valued at $170,004,636.63. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, insider R. Kipp Deveer sold 82,796 shares of the business’s stock in a transaction dated Wednesday, February 14th. The shares were 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 in the company, valued at approximately $170,004,636.63. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Michael J. Arougheti sold 74,585 shares of the firm’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $132.97, for a total transaction of $9,917,567.45. Following the transaction, the chief executive officer now owns 1,375,000 shares of the company’s stock, valued at $182,833,750. The disclosure for this sale can be found here. Insiders have sold a total of 1,494,440 shares of company stock worth $199,049,946 over the last ninety days. 41.89% of the stock is currently owned by company insiders.

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.