Brevan Howard Capital Management LP acquired a new stake in shares of Ares Management Co. (NYSE:ARES - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 5,665 shares of the asset manager's stock, valued at approximately $1,003,000.
A number of other hedge funds and other institutional investors have also made changes to their positions in ARES. Principal Financial Group Inc. increased its position in shares of Ares Management by 31.3% in the third quarter. Principal Financial Group Inc. now owns 2,849,737 shares of the asset manager's stock worth $444,103,000 after acquiring an additional 678,549 shares in the last quarter. Barclays PLC grew its position in Ares Management by 42.4% during the 3rd quarter. Barclays PLC now owns 435,103 shares of the asset manager's stock worth $67,807,000 after purchasing an additional 129,611 shares in the last quarter. B. Riley Wealth Advisors Inc. raised its stake in Ares Management by 13.8% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 2,122 shares of the asset manager's stock valued at $331,000 after purchasing an additional 258 shares during the period. JPMorgan Chase & Co. boosted its position 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 worth $1,284,773,000 after buying an additional 679,462 shares during the period. Finally, Versant Capital Management Inc lifted its stake in Ares Management by 67.0% in 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. 50.03% of the stock is currently owned by institutional investors.
Ares Management Trading Up 1.5%
NYSE ARES traded up $2.51 during trading hours on Tuesday, hitting $175.08. The company's stock had a trading volume of 658,703 shares, compared to its average volume of 1,408,986. Ares Management Co. has a twelve month low of $110.63 and a twelve month high of $200.49. The firm has a market capitalization of $55.22 billion, a P/E ratio of 86.25, a PEG ratio of 1.28 and a beta of 1.40. 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 stock has a fifty day moving average of $146.60 and a 200 day moving average of $167.53.
Ares Management (NYSE:ARES - Get Free Report) last posted its quarterly earnings results on Monday, May 5th. The asset manager reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate 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 return on equity of 16.64% and a net margin of 11.35%. During the same period last year, the company earned $0.80 EPS. Equities research analysts forecast that Ares Management Co. will post 5.28 earnings per share for the current fiscal year.
Ares Management Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be paid a $1.12 dividend. The ex-dividend date of this dividend is Monday, June 16th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 2.56%. Ares Management's dividend payout ratio (DPR) is presently 263.53%.
Insider Activity at Ares Management
In other news, Director Ashish Bhutani bought 10,000 shares of the business's stock in a transaction on Tuesday, March 11th. The shares were bought at an average cost of $141.33 per share, for a total transaction of $1,413,300.00. Following the completion of the acquisition, the director now owns 22,905 shares in the company, valued at approximately $3,237,163.65. This trade represents a 77.49% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael J. Arougheti sold 110,845 shares of Ares Management stock in a transaction on Monday, March 24th. The stock was sold at an average price of $153.17, for a total transaction of $16,978,128.65. Following the transaction, the chief executive officer now directly owns 1,400,000 shares in the company, valued at approximately $214,438,000. This represents a 7.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 250,180 shares of company stock worth $39,411,066 in the last ninety days. Company insiders own 36.86% of the company's stock.
Wall Street Analysts Forecast Growth
Several analysts recently issued reports on the company. Oppenheimer upgraded Ares Management from a "market perform" rating to an "outperform" rating and set a $159.00 price objective for the company in a report on Wednesday, April 16th. JMP Securities upped their target price on Ares Management from $165.00 to $185.00 and gave the stock a "market outperform" rating in a research report on Thursday, May 8th. Bank of America reduced their price target on Ares Management from $221.00 to $201.00 and set a "buy" rating for the company in a report on Friday, April 4th. Barclays increased their price objective on Ares Management from $142.00 to $182.00 and gave the stock an "overweight" rating in a report on Tuesday, May 6th. Finally, TD Cowen reduced their target price on shares of Ares Management from $216.00 to $161.00 and set a "buy" rating for the company in a research note on Wednesday, April 9th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $174.50.
Check Out Our Latest Analysis on Ares Management
Ares Management Company Profile
(
Free Report)
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.
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