Cinctive Capital Management LP Makes New $807,000 Investment in Ares Management Co. (NYSE:ARES)

Cinctive Capital Management LP purchased a new position in shares of Ares Management Co. (NYSE:ARES - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 4,560 shares of the asset manager's stock, valued at approximately $807,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ARES. Toronto Dominion Bank boosted its stake in Ares Management by 31.2% in the third quarter. Toronto Dominion Bank now owns 22,750 shares of the asset manager's stock worth $3,545,000 after buying an additional 5,404 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of Ares Management in the 4th quarter worth approximately $335,858,000. Charles Schwab Investment Management Inc. boosted its stake in shares of Ares Management by 4.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 715,258 shares of the asset manager's stock valued at $126,622,000 after purchasing an additional 32,273 shares in the last quarter. JPMorgan Chase & Co. grew its holdings 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 purchasing an additional 679,462 shares during the last quarter. Finally, Caldwell Investment Management Ltd. raised its position in Ares Management by 134.1% in the 4th quarter. Caldwell Investment Management Ltd. now owns 10,300 shares of the asset manager's stock worth $1,842,000 after purchasing an additional 5,900 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 15.7 %

Shares of ARES stock traded up $19.37 during midday trading on Wednesday, reaching $142.58. 4,616,448 shares of the stock were exchanged, compared to its average volume of 1,354,648. Ares Management Co. has a 1 year low of $110.63 and a 1 year high of $200.49. The firm has a market cap of $44.97 billion, a PE ratio of 70.24, a price-to-earnings-growth ratio of 1.28 and a beta of 1.32. The company's 50 day moving average is $160.22 and its two-hundred day moving average is $169.26. 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 for the quarter, missing the consensus estimate 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, equities research analysts predict that Ares Management Co. will post 5.28 EPS for the current year.

Ares Management Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were paid a $1.12 dividend. This represents a $4.48 annualized dividend and a dividend yield of 3.14%. This is a positive change from Ares Management's previous quarterly dividend of $0.93. The ex-dividend date was Monday, March 17th. Ares Management's dividend payout ratio (DPR) is presently 183.25%.

Analysts Set New Price Targets

ARES has been the topic of a number of recent research reports. Wells Fargo & Company reduced their price objective on Ares Management from $187.00 to $156.00 and set an "overweight" rating on the stock in a research note on Tuesday. TD Cowen reduced their price target on Ares Management from $216.00 to $161.00 and set a "buy" rating on the stock in a research report on Wednesday. Bank of America lowered their price objective on Ares Management from $221.00 to $201.00 and set a "buy" rating for the company in a research report on Friday, April 4th. The Goldman Sachs Group cut their target price on shares of Ares Management from $188.00 to $166.00 and set a "buy" rating on the stock in a report on Thursday, April 3rd. Finally, StockNews.com lowered shares of Ares Management from a "hold" rating to a "sell" rating in a report on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and eleven have given a buy rating to the company's stock. Based on data from MarketBeat, Ares Management presently has a consensus rating of "Moderate Buy" and a consensus target price of $166.07.

Insider Activity at Ares Management

In other news, CEO Michael J. Arougheti sold 110,845 shares of Ares Management stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $153.17, for a total value of $16,978,128.65. Following the completion of the transaction, the chief executive officer now owns 1,400,000 shares of the company's stock, valued at $214,438,000. The trade was a 7.34 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider R. Kipp Deveer sold 78,933 shares of the 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 sale, the insider now directly 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 329,113 shares of company stock valued at $54,409,915 in the last three months. Company insiders own 1.20% of the company's stock.

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.