FIL Ltd Raises Stock Position in Ares Management Co. (NYSE:ARES)

FIL Ltd increased its position in shares of Ares Management Co. (NYSE:ARES - Free Report) by 25.6% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 413,025 shares of the asset manager's stock after purchasing an additional 84,089 shares during the quarter. FIL Ltd owned approximately 0.13% of Ares Management worth $73,118,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the company. Chesley Taft & Associates LLC grew its stake in shares of Ares Management by 0.4% in the fourth quarter. Chesley Taft & Associates LLC now owns 14,022 shares of the asset manager's stock valued at $2,482,000 after buying an additional 60 shares in the last quarter. Huntington National Bank grew its position in Ares Management by 9.8% in the 4th quarter. Huntington National Bank now owns 704 shares of the asset manager's stock valued at $125,000 after acquiring an additional 63 shares in the last quarter. Premier Path Wealth Partners LLC increased its stake in Ares Management by 2.3% during the fourth quarter. Premier Path Wealth Partners LLC now owns 2,799 shares of the asset manager's stock worth $496,000 after purchasing an additional 64 shares during the period. Versant Capital Management Inc lifted its position in shares of Ares Management by 67.0% during the fourth quarter. Versant Capital Management Inc now owns 162 shares of the asset manager's stock worth $29,000 after purchasing an additional 65 shares in the last quarter. Finally, Yousif Capital Management LLC boosted its stake in shares of Ares Management by 2.8% in the fourth quarter. Yousif Capital Management LLC now owns 2,352 shares of the asset manager's stock valued at $416,000 after purchasing an additional 65 shares during the period. 50.03% of the stock is owned by institutional investors and hedge funds.

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Insider Activity at Ares Management

In other news, CEO Michael J. Arougheti sold 110,845 shares of the stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $153.17, for a total transaction of $16,978,128.65. Following the transaction, the chief executive officer now owns 1,400,000 shares of the company's stock, valued at approximately $214,438,000. This represents a 7.34 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider R. Kipp Deveer sold 78,933 shares of the stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $190.02, for a total value of $14,998,848.66. Following the transaction, the insider now owns 1,150,000 shares in the company, valued at approximately $218,523,000. This trade represents a 6.42 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 329,113 shares of company stock valued at $54,409,915. Corporate insiders own 1.20% of the company's stock.

Ares Management Stock Performance

Shares of ARES traded up $3.50 during mid-day trading on Tuesday, reaching $141.88. 500,270 shares of the company's stock traded hands, compared to its average volume of 1,374,235. 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 $44.75 billion, a P/E ratio of 69.89, a price-to-earnings-growth ratio of 1.28 and a beta of 1.32. The business's 50-day moving average price is $156.82 and its 200-day moving average price is $168.93. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.05 and a current ratio of 1.05.

Ares Management (NYSE:ARES - Get Free Report) last posted its quarterly earnings data 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 return on equity of 16.64% and a net margin of 11.35%. Equities analysts predict that Ares Management Co. will post 5.28 earnings per share for the current year.

Ares Management Increases Dividend

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

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. 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, April 8th. Keefe, Bruyette & Woods upgraded shares of Ares Management from a "market perform" rating to an "outperform" rating and upped their target price for the stock from $166.00 to $202.00 in a research note on Friday, December 20th. Bank of America decreased their price target on shares of Ares Management from $221.00 to $201.00 and set a "buy" rating for the company in a research note on Friday, April 4th. StockNews.com cut Ares Management from a "hold" rating to a "sell" rating in a research note on Wednesday, January 8th. Finally, TD Cowen lowered their target price on shares of Ares Management from $216.00 to $161.00 and set a "buy" rating for the company in a report on Wednesday, April 9th. One research 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's stock. According to MarketBeat.com, Ares Management presently has an average rating of "Moderate Buy" and an average price target of $165.40.

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.