Edgestream Partners L.P. boosted its position in shares of Ares Management Co. (NYSE:ARES - Free Report) by 16.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 56,235 shares of the asset manager's stock after purchasing an additional 8,121 shares during the quarter. Ares Management accounts for about 0.4% of Edgestream Partners L.P.'s investment portfolio, making the stock its 10th biggest holding. Edgestream Partners L.P.'s holdings in Ares Management were worth $9,955,000 at the end of the most recent reporting period.
Other institutional investors have also recently bought and sold shares of the company. Vestmark Advisory Solutions Inc. boosted its holdings in shares of Ares Management by 62.7% in the fourth quarter. Vestmark Advisory Solutions Inc. now owns 2,886 shares of the asset manager's stock valued at $511,000 after buying an additional 1,112 shares during the period. Lindbrook Capital LLC boosted its holdings in shares of Ares Management by 15.8% in the fourth quarter. Lindbrook Capital LLC now owns 519 shares of the asset manager's stock valued at $92,000 after buying an additional 71 shares during the period. Inceptionr LLC boosted its holdings in shares of Ares Management by 13.5% in the fourth quarter. Inceptionr LLC now owns 8,351 shares of the asset manager's stock valued at $1,478,000 after buying an additional 992 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Ares Management in the fourth quarter valued at approximately $335,858,000. Finally, Promus Capital LLC acquired a new position in Ares Management during the fourth quarter worth $178,000. Institutional investors and hedge funds own 50.03% of the company's stock.
Ares Management Trading Up 1.1 %
Shares of NYSE:ARES traded up $1.74 during mid-day trading on Friday, hitting $155.11. The company had a trading volume of 3,354,109 shares, compared to its average volume of 1,189,083. The firm has a fifty day moving average price of $182.21 and a 200 day moving average price of $170.09. The company has a market capitalization of $48.92 billion, a PE ratio of 76.41, a price-to-earnings-growth ratio of 1.28 and a beta of 1.23. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.05 and a quick ratio of 1.05. Ares Management Co. has a one year low of $125.23 and a one year high of $200.49.
Ares Management (NYSE:ARES - Get Free Report) last released 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%. As a group, research analysts forecast 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 will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be given a $1.12 dividend. The ex-dividend date of this dividend is Monday, March 17th. This represents a $4.48 annualized dividend and a yield of 2.89%. This is an increase from Ares Management's previous quarterly dividend of $0.93. Ares Management's dividend payout ratio (DPR) is presently 183.25%.
Analysts Set New Price Targets
Several brokerages recently commented on ARES. Keefe, Bruyette & Woods upgraded shares of Ares Management from a "market perform" rating to an "outperform" rating and increased their target price for the stock from $166.00 to $202.00 in a report on Friday, December 20th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Ares Management from $146.00 to $150.00 and gave the company a "hold" rating in a research note on Monday, November 11th. JMP Securities restated a "market perform" rating on shares of Ares Management in a research note on Thursday, February 6th. Barclays decreased their price target on shares of Ares Management from $224.00 to $217.00 and set an "overweight" rating on the stock in a research note on Thursday, February 6th. Finally, StockNews.com downgraded shares of Ares Management from a "hold" rating to a "sell" rating in a research note on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $176.17.
Read Our Latest Stock Analysis on ARES
Insider Activity at Ares Management
In other Ares Management news, insider Ryan Berry sold 14,357 shares of Ares Management stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $180.16, for a total transaction of $2,586,557.12. Following the transaction, the insider now directly owns 233,214 shares of the company's stock, valued at $42,015,834.24. The trade was a 5.80 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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 transaction, the insider now directly owns 1,150,000 shares in the company, valued at $218,523,000. This represents a 6.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 238,068 shares of company stock valued at $40,998,846. 1.20% of the stock is owned by company insiders.
About Ares Management
(
Free Report)
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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