Grandeur Peak Global Advisors LLC trimmed its holdings in shares of Ares Management Co. (NYSE:ARES - Free Report) by 35.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 37,121 shares of the asset manager's stock after selling 20,045 shares during the period. Grandeur Peak Global Advisors LLC's holdings in Ares Management were worth $6,572,000 at the end of the most recent reporting period.
Several other large investors also recently made changes to their positions in ARES. Vanguard Group Inc. increased its holdings in Ares Management by 5.1% in the 4th quarter. Vanguard Group Inc. now owns 18,807,718 shares of the asset manager's stock valued at $3,329,530,000 after purchasing an additional 907,757 shares in the last quarter. JPMorgan Chase & Co. lifted its position in Ares Management by 0.4% during the 4th quarter. JPMorgan Chase & Co. now owns 8,277,879 shares of the asset manager's stock worth $1,465,433,000 after acquiring an additional 33,700 shares in the last quarter. FMR LLC boosted its holdings in Ares Management by 12.8% in the 4th quarter. FMR LLC now owns 7,109,070 shares of the asset manager's stock worth $1,258,519,000 after acquiring an additional 807,361 shares during the period. Massachusetts Financial Services Co. MA grew its position in Ares Management by 1.3% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 5,126,442 shares of the asset manager's stock valued at $907,534,000 after acquiring an additional 66,671 shares in the last quarter. Finally, Franklin Resources Inc. lifted its position in shares of Ares Management by 0.5% during the third quarter. Franklin Resources Inc. now owns 3,678,177 shares of the asset manager's stock worth $600,830,000 after purchasing an additional 18,773 shares in the last quarter. Institutional investors and hedge funds own 50.03% of the company's stock.
Wall Street Analyst Weigh In
A number of equities analysts have weighed in on the stock. Bank of America decreased their price objective on shares of Ares Management from $221.00 to $201.00 and set a "buy" rating for the company in a research report on Friday, April 4th. Keefe, Bruyette & Woods upgraded shares of Ares Management from a "market perform" rating to an "outperform" rating and increased their price objective for the company from $166.00 to $202.00 in a research note on Friday, December 20th. JMP Securities upgraded Ares Management from a "market perform" rating to a "market outperform" rating and set a $165.00 price target for the company in a research note on Tuesday, April 8th. TD Cowen reduced their price objective on Ares Management from $216.00 to $161.00 and set a "buy" rating on the stock in a research note on Wednesday, April 9th. Finally, Wells Fargo & Company reduced their price target on shares of Ares Management from $187.00 to $156.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $165.40.
Check Out Our Latest Report on Ares Management
Insider Buying and Selling at Ares Management
In other news, Director Ashish Bhutani acquired 10,000 shares of the stock in a transaction on Tuesday, March 11th. The shares were purchased at an average cost of $141.33 per share, for a total transaction of $1,413,300.00. Following the transaction, the director now owns 22,905 shares in the company, valued at approximately $3,237,163.65. This trade represents a 77.49 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael J. Arougheti sold 110,845 shares of the stock in a transaction 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 completion of the sale, 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 disclosure for this sale can be found here. Over the last 90 days, 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 Price Performance
NYSE ARES traded up $3.01 on Tuesday, reaching $141.39. 1,683,454 shares of the stock traded hands, compared to its average volume of 1,379,075. Ares Management Co. has a 12 month low of $110.63 and a 12 month 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. The firm's fifty day simple moving average is $156.82 and its 200 day simple moving average is $168.93. The company has a market cap of $44.59 billion, a price-to-earnings ratio of 69.65, a P/E/G ratio of 1.28 and a beta of 1.32.
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 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%. As a group, research analysts predict that Ares Management Co. will post 5.28 EPS for the current fiscal year.
Ares Management Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were given a $1.12 dividend. This is a positive change 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 annualized dividend and a yield of 3.17%. Ares Management's payout ratio is 183.25%.
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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