OMERS ADMINISTRATION Corp Boosts Position in Ares Management Co. (NYSE:ARES)

OMERS ADMINISTRATION Corp lifted its position in shares of Ares Management Co. (NYSE:ARES) by 22.5% during the 4th quarter, HoldingsChannel reports. The firm owned 7,126 shares of the asset manager’s stock after acquiring an additional 1,308 shares during the period. OMERS ADMINISTRATION Corp’s holdings in Ares Management were worth $1,262,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Transce3nd LLC bought a new stake in Ares Management in the fourth quarter worth $29,000. Johnson Financial Group Inc. boosted its stake in shares of Ares Management by 104.8% during the 4th quarter. Johnson Financial Group Inc. now owns 170 shares of the asset manager’s stock worth $30,000 after acquiring an additional 87 shares during the last quarter. Noble Wealth Management PBC purchased a new stake in Ares Management in the 4th quarter worth approximately $36,000. Avalon Trust Co purchased a new stake in Ares Management in the 4th quarter worth approximately $53,000. Finally, Private Trust Co. NA grew its position in shares of Ares Management by 43.0% during the fourth quarter. Private Trust Co. NA now owns 336 shares of the asset manager’s stock worth $59,000 after purchasing an additional 101 shares in the last quarter. 50.03% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Ares Management

In related news, CEO Michael J. Arougheti sold 110,845 shares of the company’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $153.17, for a total value of $16,978,128.65. Following the sale, the chief executive officer now owns 1,400,000 shares of the company’s stock, valued at $214,438,000. The trade was a 7.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Chairman Bennett Rosenthal sold 69,809 shares of the company’s stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $161.01, for a total transaction of $11,239,947.09. Following the sale, the chairman now directly owns 30,191 shares in the company, valued at $4,861,052.91. This represents a 69.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 250,180 shares of company stock valued at $39,411,066 in the last quarter. Company insiders own 36.86% of the company’s stock.

Ares Management Stock Performance

Shares of NYSE ARES opened at $170.33 on Friday. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.53. The firm’s 50-day moving average price is $148.51 and its two-hundred day moving average price is $167.60. Ares Management Co. has a 52-week low of $110.63 and a 52-week high of $200.49. The stock has a market capitalization of $53.72 billion, a P/E ratio of 83.91, a P/E/G ratio of 1.28 and a beta of 1.40.

Ares Management (NYSE:ARES) last posted its quarterly earnings data on Monday, May 5th. The asset manager reported $1.09 EPS for the quarter, beating analysts’ consensus estimates of $0.94 by $0.15. The business had revenue of $951.96 million for the quarter, compared to analyst estimates 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 last year, the business earned $0.80 earnings per share. As a group, sell-side analysts forecast that Ares Management Co. will post 5.28 earnings per share for the current year.

Ares Management Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be paid a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a dividend yield of 2.63%. The ex-dividend date is Monday, June 16th. Ares Management’s dividend payout ratio (DPR) is currently 263.53%.

Analyst Upgrades and Downgrades

ARES has been the subject of several research analyst reports. Citizens Jmp upgraded Ares Management from a “market perform” rating to an “outperform” rating and set a $165.00 price target for the company in a report on Tuesday, April 8th. Barclays raised their price target on Ares Management from $142.00 to $182.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 6th. The Goldman Sachs Group decreased their target price on Ares Management from $188.00 to $166.00 and set a “buy” rating for the company in a research report on Thursday, April 3rd. Morgan Stanley decreased their target price on Ares Management from $197.00 to $152.00 and set an “equal weight” rating for the company in a research report on Monday, April 14th. Finally, JMP Securities lifted their price target on Ares Management from $165.00 to $185.00 and gave the company a “market outperform” rating in a report on Thursday, May 8th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $174.50.

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.