Sumitomo Life Insurance Co. Has $3.61 Million Stock Position in Ares Management Co. (NYSE:ARES)

Sumitomo Life Insurance Co. lowered its position in Ares Management Co. (NYSE:ARES) by 1.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,375 shares of the asset manager’s stock after selling 303 shares during the period. Sumitomo Life Insurance Co.’s holdings in Ares Management were worth $3,607,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in ARES. Victory Capital Management Inc. increased its position in shares of Ares Management by 6.5% during the third quarter. Victory Capital Management Inc. now owns 65,417 shares of the asset manager’s stock worth $10,195,000 after acquiring an additional 4,000 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Ares Management by 5.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 682,985 shares of the asset manager’s stock worth $106,436,000 after purchasing an additional 36,476 shares during the period. Toronto Dominion Bank increased its holdings in Ares Management by 31.2% during the 3rd quarter. Toronto Dominion Bank now owns 22,750 shares of the asset manager’s stock worth $3,545,000 after purchasing an additional 5,404 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Ares Management by 9.0% in the third quarter. JPMorgan Chase & Co. now owns 8,244,179 shares of the asset manager’s stock valued at $1,284,773,000 after purchasing an additional 679,462 shares in the last quarter. Finally, Caldwell Investment Management Ltd. lifted its holdings in shares of Ares Management by 134.1% in the fourth quarter. Caldwell Investment Management Ltd. now owns 10,300 shares of the asset manager’s stock valued at $1,842,000 after purchasing an additional 5,900 shares in the last quarter. Institutional investors and hedge funds own 50.03% of the company’s stock.

Ares Management Price Performance

Shares of NYSE ARES opened at $193.51 on Wednesday. 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 business’s 50 day moving average price is $180.21 and its two-hundred day moving average price is $162.87. The company has a market cap of $60.58 billion, a PE ratio of 89.18, a price-to-earnings-growth ratio of 1.46 and a beta of 1.18. Ares Management Co. has a twelve month low of $119.76 and a twelve month high of $197.53.

Ares Management (NYSE:ARES) last posted its earnings results on Friday, November 1st. The asset manager reported $0.95 earnings per share for the quarter, topping analysts’ consensus estimates of $0.94 by $0.01. Ares Management had a return on equity of 19.89% and a net margin of 12.51%. The business had revenue of $1.13 billion for the quarter, compared to analyst estimates of $833.58 million. During the same period in the previous year, the firm earned $0.83 EPS. On average, analysts predict that Ares Management Co. will post 4.05 EPS for the current year.

Ares Management Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th were paid a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a dividend yield of 1.92%. The ex-dividend date of this dividend was Tuesday, December 17th. Ares Management’s dividend payout ratio is presently 171.43%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Royal Bank of Canada lifted their target price on Ares Management from $170.00 to $185.00 and gave the company an “outperform” rating in a research report on Monday, November 4th. TD Cowen lifted their price objective on shares of Ares Management from $184.00 to $187.00 and gave the company a “buy” rating in a report on Monday, November 4th. Barclays restated an “overweight” rating and set a $224.00 target price on shares of Ares Management in a report on Monday. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Ares Management from $146.00 to $150.00 and gave the company a “hold” rating in a research note on Monday, November 11th. Finally, JPMorgan Chase & Co. reduced their price objective 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. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $176.08.

Insider Buying and Selling

In related news, insider Ryan Berry sold 18,329 shares of Ares Management stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $175.18, for a total transaction of $3,210,874.22. Following the completion of the sale, the insider now directly owns 254,885 shares of the company’s stock, valued at approximately $44,650,754.30. This trade represents a 6.71 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Michael J. Arougheti sold 20,096 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $167.44, for a total value of $3,364,874.24. Following the transaction, the chief executive officer now owns 229,904 shares in the company, valued at $38,495,125.76. The trade was a 8.04 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 574,167 shares of company stock valued at $99,996,647. Company insiders own 1.20% of the company’s stock.

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.