Strategic Blueprint LLC Cuts Holdings in Ares Management Co. (NYSE:ARES)

Strategic Blueprint LLC lowered its stake in shares of Ares Management Co. (NYSE:ARES) by 6.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,710 shares of the asset manager’s stock after selling 328 shares during the period. Strategic Blueprint LLC’s holdings in Ares Management were worth $834,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Chesley Taft & Associates LLC grew its stake in Ares Management by 0.4% in the fourth quarter. Chesley Taft & Associates LLC now owns 14,022 shares of the asset manager’s stock valued at $2,482,000 after purchasing an additional 60 shares during the last quarter. Premier Path Wealth Partners LLC grew its position in shares of Ares Management by 2.3% in the 4th quarter. Premier Path Wealth Partners LLC now owns 2,799 shares of the asset manager’s stock worth $496,000 after buying an additional 64 shares during the last quarter. Versant Capital Management Inc raised its stake in shares of Ares Management by 67.0% during the 4th quarter. Versant Capital Management Inc now owns 162 shares of the asset manager’s stock worth $29,000 after acquiring an additional 65 shares in the last quarter. MassMutual Private Wealth & Trust FSB boosted its stake in Ares Management by 6.2% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 1,147 shares of the asset manager’s stock valued at $203,000 after acquiring an additional 67 shares in the last quarter. Finally, Harbor Capital Advisors Inc. boosted its stake in Ares Management by 2.6% in the fourth quarter. Harbor Capital Advisors Inc. now owns 2,746 shares of the asset manager’s stock valued at $486,000 after acquiring an additional 70 shares in the last quarter. Institutional investors own 50.03% of the company’s stock.

Ares Management Stock Performance

Shares of ARES stock opened at $198.21 on Friday. The stock has a market cap of $62.05 billion, a PE ratio of 91.34, a price-to-earnings-growth ratio of 1.46 and a beta of 1.18. Ares Management Co. has a 52-week low of $119.76 and a 52-week high of $199.04. The business has a 50-day simple moving average of $181.11 and a 200-day simple moving average of $163.45. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.53.

Ares Management (NYSE:ARES) last issued its quarterly earnings data on Friday, November 1st. The asset manager reported $0.95 EPS for the quarter, topping analysts’ consensus estimates of $0.94 by $0.01. Ares Management had a net margin of 12.51% and a return on equity of 19.89%. The business had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $833.58 million. During the same quarter last year, the company earned $0.83 EPS. On average, equities analysts expect that Ares Management Co. will post 4.05 EPS for the current year.

Analysts Set New Price Targets

Several analysts have recently commented on ARES shares. Barclays reiterated an “overweight” rating and set a $224.00 price objective on shares of Ares Management in a report on Monday. Wells Fargo & Company dropped their price target on Ares Management from $212.00 to $207.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 14th. JPMorgan Chase & Co. lowered their target price on shares of Ares Management from $176.00 to $174.00 and set an “overweight” rating for the company in a research note on Tuesday, November 5th. Morgan Stanley upped their price target on shares of Ares Management from $136.00 to $162.00 and gave the company an “equal weight” rating in a research note on Thursday, October 10th. Finally, TD Cowen lifted their price objective on shares of Ares Management from $184.00 to $187.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $176.08.

Insider Activity at Ares Management

In other news, insider Ryan Berry sold 1,671 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $175.00, for a total transaction of $292,425.00. Following the transaction, the insider now owns 253,214 shares in the company, valued at $44,312,450. This trade represents a 0.66 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Michael J. Arougheti sold 15,825 shares of the business’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $167.24, for a total transaction of $2,646,573.00. Following the completion of the sale, the chief executive officer now directly owns 214,079 shares of the company’s stock, valued at approximately $35,802,571.96. The trade was a 6.88 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 574,167 shares of company stock worth $99,996,647. 1.20% of the stock is owned by company insiders.

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.