Lindbrook Capital LLC Has $38,000 Position in Ares Management Co. (NYSE:ARES)

Lindbrook Capital LLC lifted its position in shares of Ares Management Co. (NYSE:ARES) by 76.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 318 shares of the asset manager’s stock after buying an additional 138 shares during the period. Lindbrook Capital LLC’s holdings in Ares Management were worth $38,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the company. abrdn plc acquired a new position in shares of Ares Management during the fourth quarter worth about $231,000. Beaumont Financial Advisors LLC acquired a new position in shares of Ares Management during the fourth quarter worth about $209,000. AIA Group Ltd boosted its position in shares of Ares Management by 2.2% during the fourth quarter. AIA Group Ltd now owns 23,100 shares of the asset manager’s stock worth $2,747,000 after buying an additional 500 shares during the period. Livforsakringsbolaget Skandia Omsesidigt acquired a new position in Ares Management during the fourth quarter valued at approximately $36,000. Finally, Daiwa Securities Group Inc. boosted its position in Ares Management by 10.7% during the fourth quarter. Daiwa Securities Group Inc. now owns 10,628 shares of the asset manager’s stock valued at $1,264,000 after purchasing an additional 1,028 shares during the last quarter. 50.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ARES has been the subject of several recent research reports. Jefferies Financial Group cut Ares Management from a “buy” rating to a “hold” rating and set a $122.00 price target for the company. in a research report on Tuesday, January 9th. Barclays reduced their price target on Ares Management from $157.00 to $153.00 and set an “overweight” rating for the company in a research report on Monday, April 8th. Royal Bank of Canada increased their price target on Ares Management from $135.00 to $145.00 and gave the company an “outperform” rating in a research report on Monday, February 12th. Morgan Stanley increased their price target on Ares Management from $109.00 to $118.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 24th. Finally, UBS Group raised their price objective on Ares Management from $156.00 to $160.00 and gave the company a “buy” rating in a research report on Friday, April 12th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $126.17.

Insiders Place Their Bets

In other Ares Management news, insider R. Kipp Deveer sold 80,637 shares of the firm’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $135.25, for a total transaction of $10,906,154.25. Following the transaction, the insider now owns 1,116,676 shares in the company, valued at approximately $151,030,429. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other Ares Management news, insider R. Kipp Deveer sold 80,637 shares of the firm’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $135.25, for a total value of $10,906,154.25. Following the sale, the insider now owns 1,116,676 shares of the company’s stock, valued at approximately $151,030,429. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Chairman Antony P. Ressler sold 174,258 shares of the firm’s stock in a transaction on Monday, April 8th. The shares were sold at an average price of $134.89, for a total value of $23,505,661.62. 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 in the last 90 days. Company insiders own 47.34% of the company’s stock.

Ares Management Price Performance

Ares Management stock opened at $133.71 on Friday. The stock’s fifty day moving average price is $133.10 and its two-hundred day moving average price is $120.58. Ares Management Co. has a one year low of $77.97 and a one year high of $139.48. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.02 and a quick ratio of 1.02. The firm has a market cap of $41.40 billion, a PE ratio of 55.95, a price-to-earnings-growth ratio of 1.03 and a beta of 1.17.

Ares Management (NYSE:ARES) last posted its quarterly earnings data on Thursday, February 8th. The asset manager reported $1.21 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.11. Ares Management had a return on equity of 21.01% and a net margin of 13.06%. The firm had revenue of $1.05 billion for the quarter, compared to analyst estimates of $862.71 million. During the same quarter last year, the company earned $1.21 EPS. As a group, research analysts expect that Ares Management Co. will post 4.48 EPS for the current fiscal year.

Ares Management Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were paid a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a yield of 2.78%. The ex-dividend date of this dividend was Thursday, March 14th. This is a positive change from Ares Management’s previous quarterly dividend of $0.77. Ares Management’s dividend payout ratio (DPR) is 155.65%.

Ares Management Profile

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.