Xponance Inc. grew its position in shares of Ares Management Co. (NYSE:ARES - Free Report) by 13.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,773 shares of the asset manager's stock after purchasing an additional 4,278 shares during the period. Xponance Inc.'s holdings in Ares Management were worth $6,510,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in ARES. Raymond James Financial Inc. purchased a new stake in Ares Management in the fourth quarter valued at approximately $335,858,000. JPMorgan Chase & Co. raised its position in shares of Ares Management by 9.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 8,244,179 shares of the asset manager's stock valued at $1,284,773,000 after buying an additional 679,462 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Ares Management by 31.3% during the 3rd 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 during the last quarter. Eagle Asset Management Inc. grew its position in Ares Management by 26.4% in the third quarter. Eagle Asset Management Inc. now owns 1,344,383 shares of the asset manager's stock worth $229,056,000 after acquiring an additional 280,656 shares in the last quarter. Finally, State Street Corp raised its position in Ares Management by 5.1% during the third quarter. State Street Corp now owns 3,826,479 shares of the asset manager's stock valued at $596,318,000 after purchasing an additional 187,184 shares in the last quarter. 50.03% of the stock is currently owned by hedge funds and other institutional investors.
Insider Transactions at Ares Management
In other news, Director Ashish Bhutani bought 10,000 shares of the stock in a transaction dated Tuesday, March 11th. The stock was bought at an average price of $141.33 per share, for a total transaction of $1,413,300.00. Following the purchase, the director now directly owns 22,905 shares in the company, valued at $3,237,163.65. This trade represents a 77.49 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider R. Kipp Deveer sold 78,933 shares of Ares Management stock in a transaction that occurred 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 sale, the insider now owns 1,150,000 shares in the company, valued at $218,523,000. This represents a 6.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 218,268 shares of company stock valued at $37,431,786. Company insiders own 1.20% of the company's stock.
Ares Management Trading Up 4.1 %
Shares of NYSE ARES traded up $6.10 during trading hours on Monday, hitting $153.81. The company's stock had a trading volume of 1,724,894 shares, compared to its average volume of 1,216,356. Ares Management Co. has a 12 month low of $125.23 and a 12 month high of $200.49. The stock has a market cap of $48.51 billion, a price-to-earnings ratio of 75.77, a P/E/G ratio of 1.28 and a beta of 1.23. 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 business has a 50-day simple moving average of $175.33 and a 200-day simple moving average of $170.26.
Ares Management (NYSE:ARES - Get Free Report) last issued its quarterly earnings data on Wednesday, February 5th. The asset manager reported $1.23 earnings per share for the quarter, missing analysts' consensus estimates 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, analysts anticipate that Ares Management Co. will post 5.28 earnings per share for the current fiscal year.
Ares Management Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be issued a $1.12 dividend. The ex-dividend date of this dividend is Monday, March 17th. This is a positive change from Ares Management's previous quarterly dividend of $0.93. This represents a $4.48 annualized dividend and a yield of 2.91%. Ares Management's dividend payout ratio is 183.25%.
Wall Street Analyst Weigh In
A number of equities analysts have recently issued reports on ARES shares. Wells Fargo & Company reduced their price objective on Ares Management from $215.00 to $187.00 and set an "overweight" rating on the stock in a research report on Thursday. StockNews.com cut shares of Ares Management from a "hold" rating to a "sell" rating in a research report on Wednesday, January 8th. JMP Securities restated a "market perform" rating on shares of Ares Management in a report on Thursday, February 6th. Barclays cut their price objective on shares of Ares Management from $224.00 to $217.00 and set an "overweight" rating for the company in a research note on Thursday, February 6th. Finally, Keefe, Bruyette & Woods upgraded shares of 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 research report on Friday, December 20th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $173.83.
Read Our Latest Analysis on ARES
About Ares Management
(
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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