Amundi Sells 5,820 Shares of Ares Management Co. (NYSE:ARES)

Amundi cut its stake in shares of Ares Management Co. (NYSE:ARES - Free Report) by 3.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 163,825 shares of the asset manager's stock after selling 5,820 shares during the quarter. Amundi owned approximately 0.05% of Ares Management worth $29,865,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the business. Versant Capital Management Inc lifted its holdings in Ares Management by 67.0% in the fourth quarter. Versant Capital Management Inc now owns 162 shares of the asset manager's stock valued at $29,000 after acquiring an additional 65 shares during the period. Noble Wealth Management PBC acquired a new stake in Ares Management in the 4th quarter valued at about $36,000. GAMMA Investing LLC lifted its stake in Ares Management by 53.4% in the 4th quarter. GAMMA Investing LLC now owns 227 shares of the asset manager's stock valued at $40,000 after buying an additional 79 shares in the last quarter. Point72 DIFC Ltd acquired a new position in shares of Ares Management in the third quarter worth $36,000. Finally, Private Trust Co. NA increased its position in Ares Management by 43.0% during the 4th 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. Hedge funds and other institutional investors own 50.03% of the company's stock.

Ares Management Trading Up 3.4 %

Shares of NYSE:ARES traded up $4.83 during mid-day trading on Friday, hitting $145.02. The stock had a trading volume of 874,864 shares, compared to its average volume of 1,210,720. Ares Management Co. has a 12-month low of $125.23 and a 12-month high of $200.49. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.05 and a current ratio of 1.05. The company has a market cap of $45.74 billion, a PE ratio of 71.41, a P/E/G ratio of 1.28 and a beta of 1.23. The company's 50 day moving average is $179.36 and its 200-day moving average is $169.84.

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Ares Management (NYSE:ARES - Get Free Report) last issued its earnings results on Wednesday, February 5th. The asset manager reported $1.23 EPS for the quarter, missing the consensus estimate of $1.35 by ($0.12). Ares Management had a return on equity of 16.64% and a net margin of 11.35%. On average, sell-side analysts predict that Ares Management Co. will post 5.28 EPS for the current year.

Ares Management Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be paid a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a yield of 3.09%. The ex-dividend date is Monday, March 17th. This is a boost from Ares Management's previous quarterly dividend of $0.93. Ares Management's payout ratio is 183.25%.

Insider Activity

In other news, insider R. Kipp Deveer sold 78,933 shares of the stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $190.02, for a total value of $14,998,848.66. Following the completion of the transaction, the insider now owns 1,150,000 shares in the company, valued at approximately $218,523,000. This represents a 6.42 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Ashish Bhutani purchased 10,000 shares of the business's stock in a transaction on Tuesday, March 11th. The shares were acquired at an average price of $141.33 per share, with a total value of $1,413,300.00. Following the purchase, the director now owns 22,905 shares of the company's stock, valued at approximately $3,237,163.65. This trade represents a 77.49 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold 218,268 shares of company stock worth $37,431,786 in the last 90 days. Company insiders own 1.20% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on ARES shares. Barclays decreased their target price on shares of Ares Management from $224.00 to $217.00 and set an "overweight" rating on the stock in a research report on Thursday, February 6th. StockNews.com downgraded shares of Ares Management from a "hold" rating to a "sell" rating in a research report on Wednesday, January 8th. Wells Fargo & Company increased their price objective on Ares Management from $207.00 to $215.00 and gave the stock an "overweight" rating in a report on Thursday, February 6th. Keefe, Bruyette & Woods raised Ares Management from a "market perform" rating to an "outperform" rating and lifted their target price for the stock from $166.00 to $202.00 in a report on Friday, December 20th. Finally, JMP Securities reissued a "market perform" rating on shares of Ares Management in a report on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, Ares Management currently has an average rating of "Moderate Buy" and a consensus price target of $176.17.

Ares Management Company 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.