Ares Management Co. (NYSE:ARES) Shares Sold by Capital Investment Counsel LLC

Capital Investment Counsel LLC cut its stake in Ares Management Co. (NYSE:ARES - Free Report) by 2.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 68,794 shares of the asset manager's stock after selling 1,778 shares during the period. Ares Management comprises about 2.0% of Capital Investment Counsel LLC's holdings, making the stock its 11th largest holding. Capital Investment Counsel LLC's holdings in Ares Management were worth $12,179,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. AXA S.A. purchased a new stake in shares of Ares Management in the 2nd quarter valued at approximately $725,000. Mackenzie Financial Corp increased its holdings in Ares Management by 1.5% in the second quarter. Mackenzie Financial Corp now owns 13,518 shares of the asset manager's stock valued at $1,802,000 after buying an additional 194 shares during the last quarter. Creative Planning raised its stake in Ares Management by 5.5% in the second quarter. Creative Planning now owns 18,425 shares of the asset manager's stock valued at $2,456,000 after buying an additional 966 shares in the last quarter. NewEdge Advisors LLC lifted its holdings in Ares Management by 4.7% during the 2nd quarter. NewEdge Advisors LLC now owns 31,294 shares of the asset manager's stock worth $4,171,000 after buying an additional 1,403 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its position in shares of Ares Management by 139.2% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 6,262 shares of the asset manager's stock worth $835,000 after acquiring an additional 3,644 shares in the last quarter. 50.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on ARES shares. Royal Bank of Canada raised their target price on Ares Management from $170.00 to $185.00 and gave the stock an "outperform" rating in a research report on Monday, November 4th. Barclays restated an "overweight" rating and set a $224.00 price objective on shares of Ares Management in a research report on Monday, January 27th. Wells Fargo & Company lowered their target price on shares of Ares Management from $212.00 to $207.00 and set an "overweight" rating for the company in a report on Tuesday, January 14th. TD Cowen upped their price objective on shares of Ares Management from $184.00 to $187.00 and gave the company a "buy" rating in a research note on Monday, November 4th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on Ares Management from $146.00 to $150.00 and gave the stock a "hold" rating in a research report on Monday, November 11th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $176.08.

Insider Activity at Ares Management

In other Ares Management news, insider R. Kipp Deveer sold 115,838 shares of the stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $177.83, for a total value of $20,599,471.54. Following the completion of the transaction, the insider now directly owns 1,259,162 shares of the company's stock, valued at approximately $223,916,778.46. This trade represents a 8.42 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Ryan Berry sold 1,671 shares of the business's stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $175.00, for a total value of $292,425.00. Following the sale, the insider now directly owns 253,214 shares in the company, valued at $44,312,450. This trade represents a 0.66 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 574,167 shares of company stock worth $99,996,647 over the last 90 days. Company insiders own 1.20% of the company's stock.

Ares Management Stock Performance

Shares of Ares Management stock traded up $0.11 during trading hours on Friday, hitting $198.19. 1,139,454 shares of the company were exchanged, compared to its average volume of 843,987. The business has a 50-day moving average of $182.03 and a 200-day moving average of $164.05. Ares Management Co. has a 1 year low of $119.76 and a 1 year high of $199.94. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.53. The stock has a market capitalization of $62.05 billion, a price-to-earnings ratio of 91.33, a P/E/G ratio of 1.47 and a beta of 1.18.

Ares Management (NYSE:ARES - Get Free Report) last released its earnings results on Friday, November 1st. The asset manager reported $0.95 EPS for the quarter, topping the consensus estimate of $0.94 by $0.01. The company had revenue of $1.13 billion during the quarter, compared to analysts' expectations of $833.58 million. Ares Management had a net margin of 12.51% and a return on equity of 19.89%. During the same quarter last year, the business earned $0.83 EPS. As a group, analysts expect that Ares Management Co. will post 4.04 EPS for the current fiscal year.

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.