Assetmark Inc. Has $8.29 Million Stock Holdings in Ares Management Co. (NYSE:ARES)

Assetmark Inc. increased its holdings in shares of Ares Management Co. (NYSE:ARES - Free Report) by 12.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 46,834 shares of the asset manager's stock after purchasing an additional 5,325 shares during the period. Assetmark Inc.'s holdings in Ares Management were worth $8,291,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Versant Capital Management Inc raised its stake in shares of Ares Management by 67.0% in the 4th quarter. Versant Capital Management Inc now owns 162 shares of the asset manager's stock valued at $29,000 after purchasing an additional 65 shares during the period. Noble Wealth Management PBC bought a new position in shares of Ares Management during the fourth quarter worth about $36,000. GAMMA Investing LLC raised its position 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 during the last quarter. Point72 DIFC Ltd bought a new stake in Ares Management in the 3rd quarter valued at approximately $36,000. Finally, Private Trust Co. NA boosted 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 acquiring an additional 101 shares during the last quarter. 50.03% of the stock is currently owned by institutional investors and hedge funds.

Ares Management Stock Performance

ARES traded up $2.04 during trading hours on Tuesday, reaching $143.28. The company's stock had a trading volume of 2,545,479 shares, compared to its average volume of 1,202,067. 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's 50-day moving average is $181.45 and its 200-day moving average is $170.25. Ares Management Co. has a 52 week low of $125.23 and a 52 week high of $200.49. The firm has a market cap of $45.19 billion, a PE ratio of 70.58, a price-to-earnings-growth ratio of 1.28 and a beta of 1.23.

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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 the consensus estimate of $1.35 by ($0.12). Ares Management had a net margin of 11.35% and a return on equity of 16.64%. On average, equities analysts forecast that Ares Management Co. will post 5.28 EPS for the current 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 given a dividend of $1.12 per share. The ex-dividend date of this dividend is Monday, March 17th. This is an increase from Ares Management's previous quarterly dividend of $0.93. This represents a $4.48 annualized dividend and a yield of 3.13%. Ares Management's dividend payout ratio (DPR) is 183.25%.

Insider Transactions at Ares Management

In other news, insider Ryan Berry sold 14,357 shares of Ares Management stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $180.16, for a total transaction of $2,586,557.12. Following the completion of the sale, the insider now owns 233,214 shares of the company's stock, valued at approximately $42,015,834.24. This trade represents a 5.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider R. Kipp Deveer sold 78,933 shares of the company's stock in a transaction dated Thursday, February 6th. The shares were 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 owns 1,150,000 shares in the company, valued at $218,523,000. This trade represents a 6.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 232,625 shares of company stock worth $40,018,344 over the last quarter. Company insiders own 1.20% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Ares Management from $146.00 to $150.00 and gave the stock a "hold" rating in a research report on Monday, November 11th. StockNews.com downgraded shares of Ares Management from a "hold" rating to a "sell" rating in a research note on Wednesday, January 8th. Keefe, Bruyette & Woods upgraded Ares Management from a "market perform" rating to an "outperform" rating and raised their price objective for the company from $166.00 to $202.00 in a report on Friday, December 20th. Barclays dropped their target price on Ares Management from $224.00 to $217.00 and set an "overweight" rating on the stock in a report on Thursday, February 6th. Finally, Wells Fargo & Company increased their price target on Ares Management from $207.00 to $215.00 and gave the company an "overweight" rating in a research report on Thursday, February 6th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, Ares Management has an average rating of "Moderate Buy" and an average price target of $176.17.

Ares Management 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.