BI Asset Management Fondsmaeglerselskab A S Buys 5,624 Shares of Ares Management Co. (NYSE:ARES)

BI Asset Management Fondsmaeglerselskab A S raised its stake in shares of Ares Management Co. (NYSE:ARES - Free Report) by 606.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,551 shares of the asset manager's stock after purchasing an additional 5,624 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S's holdings in Ares Management were worth $1,160,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Principal Financial Group Inc. grew its position in Ares Management by 31.3% in the third 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 in the last quarter. Barclays PLC lifted its stake in Ares Management by 42.4% during the third quarter. Barclays PLC now owns 435,103 shares of the asset manager's stock worth $67,807,000 after purchasing an additional 129,611 shares during the last quarter. Virtu Financial LLC purchased a new position in shares of Ares Management in the 3rd quarter worth about $2,036,000. Morse Asset Management Inc increased its position in shares of Ares Management by 0.7% during the 3rd quarter. Morse Asset Management Inc now owns 14,035 shares of the asset manager's stock valued at $2,187,000 after purchasing an additional 95 shares during the last quarter. Finally, Tidal Investments LLC raised its holdings in shares of Ares Management by 9.3% during the 3rd quarter. Tidal Investments LLC now owns 12,798 shares of the asset manager's stock valued at $1,994,000 after buying an additional 1,091 shares in the last quarter. Hedge funds and other institutional investors own 50.03% of the company's stock.

Ares Management Trading Up 3.3 %

ARES opened at $141.58 on Wednesday. The stock has a market cap of $44.66 billion, a PE ratio of 69.75, a PEG ratio of 1.28 and a beta of 1.32. The business has a 50 day moving average of $151.18 and a 200-day moving average of $168.14. Ares Management Co. has a 52 week low of $110.63 and a 52 week high of $200.49. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.53.

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

Ares Management Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were paid a dividend of $1.12 per share. This is an increase from Ares Management's previous quarterly dividend of $0.93. The ex-dividend date of this dividend was Monday, March 17th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.16%. Ares Management's dividend payout ratio (DPR) is currently 183.25%.

Insider Transactions at Ares Management

In other news, CEO Michael J. Arougheti sold 110,845 shares of the company's stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $153.17, for a total value of $16,978,128.65. Following the transaction, the chief executive officer now owns 1,400,000 shares in the company, valued at approximately $214,438,000. This represents a 7.34 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Ashish Bhutani purchased 10,000 shares of Ares Management stock in a transaction that occurred on Tuesday, March 11th. The shares were purchased at an average cost of $141.33 per share, with a total value of $1,413,300.00. Following the transaction, the director now directly owns 22,905 shares of the company's stock, valued at $3,237,163.65. This represents a 77.49 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold a total of 329,113 shares of company stock valued at $54,409,915 in the last ninety days. 1.20% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Morgan Stanley reduced their price target on shares of Ares Management from $197.00 to $152.00 and set an "equal weight" rating on the stock in a research report on Monday, April 14th. Wells Fargo & Company lowered their price target on shares of Ares Management from $187.00 to $156.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Barclays reduced their price objective on Ares Management from $217.00 to $142.00 and set an "overweight" rating on the stock in a research note on Monday, April 7th. JMP Securities upgraded Ares Management from a "market perform" rating to a "market outperform" rating and set a $165.00 target price for the company in a report on Tuesday, April 8th. Finally, TD Cowen lowered their price objective on Ares Management from $216.00 to $161.00 and set a "buy" rating for the company in a research report on Wednesday, April 9th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $165.00.

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.

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