Ares Management Co. (NYSE:ARES) Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. cut its stake in Ares Management Co. (NYSE:ARES - Free Report) by 5.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,000,928 shares of the asset manager's stock after selling 54,656 shares during the period. Envestnet Asset Management Inc. owned approximately 0.32% of Ares Management worth $177,194,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in shares of Ares Management by 5.1% in the 4th quarter. Vanguard Group Inc. now owns 18,807,718 shares of the asset manager's stock valued at $3,329,530,000 after purchasing an additional 907,757 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in Ares Management by 0.4% in the fourth quarter. JPMorgan Chase & Co. now owns 8,277,879 shares of the asset manager's stock valued at $1,465,433,000 after acquiring an additional 33,700 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in Ares Management by 1.3% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 5,126,442 shares of the asset manager's stock valued at $907,534,000 after acquiring an additional 66,671 shares during the period. State Street Corp increased its stake 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 worth $596,318,000 after acquiring an additional 187,184 shares during the last quarter. Finally, Franklin Resources Inc. raised its holdings in shares of Ares Management by 0.5% in the 3rd quarter. Franklin Resources Inc. now owns 3,678,177 shares of the asset manager's stock worth $600,830,000 after purchasing an additional 18,773 shares during the period. 50.03% of the stock is currently owned by hedge funds and other institutional investors.

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Ares Management Stock Up 1.6 %

ARES stock traded up $2.12 during midday trading on Friday, hitting $137.89. 3,184,457 shares of the company's stock were exchanged, compared to its average volume of 1,372,277. The firm has a 50 day moving average price of $157.85 and a 200-day moving average price of $168.97. Ares Management Co. has a 12-month low of $110.63 and a 12-month high of $200.49. The stock has a market capitalization of $43.49 billion, a price-to-earnings ratio of 67.93, a price-to-earnings-growth ratio of 1.28 and a beta of 1.32. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.53.

Ares Management (NYSE:ARES - Get Free Report) last issued its quarterly earnings results on Wednesday, February 5th. The asset manager reported $1.23 earnings per share (EPS) 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 EPS for the current year.

Ares Management Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were paid a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.25%. The ex-dividend date of this dividend was Monday, March 17th. This is a positive change from Ares Management's previous quarterly dividend of $0.93. Ares Management's dividend payout ratio is 183.25%.

Insider Transactions at Ares Management

In related news, Chairman Bennett Rosenthal sold 69,809 shares of the company's stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $161.01, for a total transaction of $11,239,947.09. Following the sale, the chairman now directly owns 30,191 shares of the company's stock, valued at approximately $4,861,052.91. This represents a 69.81 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider R. Kipp Deveer sold 78,933 shares of Ares Management stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $190.02, for a total transaction of $14,998,848.66. Following the completion of the transaction, the insider now directly owns 1,150,000 shares of the company's stock, valued at approximately $218,523,000. This represents a 6.42 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 329,113 shares of company stock valued at $54,409,915. Insiders own 1.20% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. JMP Securities raised shares of Ares Management from a "market perform" rating to a "market outperform" rating and set a $165.00 target price for the company in a research report on Tuesday. Citizens Jmp raised shares of Ares Management from a "market perform" rating to an "outperform" rating and set a $165.00 price objective for the company in a research report on Tuesday. Wells Fargo & Company cut their target price on shares of Ares Management from $187.00 to $156.00 and set an "overweight" rating on the stock in a research note on Tuesday. The Goldman Sachs Group decreased their price target on shares of Ares Management from $188.00 to $166.00 and set a "buy" rating for the company in a research report on Thursday, April 3rd. Finally, Barclays cut their price objective on Ares Management from $217.00 to $142.00 and set an "overweight" rating on the stock in a research report on Monday, April 7th. One analyst has rated the stock with a sell rating, four have given a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $166.07.

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.