MML Investors Services LLC Has $7.39 Million Holdings in Ares Management Co. (NYSE:ARES)

MML Investors Services LLC lessened its holdings in Ares Management Co. (NYSE:ARES - Free Report) by 11.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 41,758 shares of the asset manager's stock after selling 5,241 shares during the period. MML Investors Services LLC's holdings in Ares Management were worth $7,392,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Versant Capital Management Inc increased its stake in 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 during the period. Noble Wealth Management PBC acquired a new position in shares of Ares Management in the fourth quarter valued at approximately $36,000. GAMMA Investing LLC increased its stake in Ares Management by 53.4% during the 4th quarter. GAMMA Investing LLC now owns 227 shares of the asset manager's stock worth $40,000 after buying an additional 79 shares during the period. Avalon Trust Co acquired a new stake in Ares Management during the 4th quarter worth approximately $53,000. Finally, Private Trust Co. NA boosted its position in Ares Management by 43.0% in the 4th quarter. Private Trust Co. NA now owns 336 shares of the asset manager's stock valued at $59,000 after buying an additional 101 shares during the period. 50.03% of the stock is currently owned by hedge funds and other institutional investors.

Ares Management Stock Up 0.6 %

Shares of NYSE:ARES traded up $0.89 during midday trading on Friday, reaching $153.86. The company had a trading volume of 1,290,705 shares, compared to its average volume of 1,397,114. The stock has a market capitalization of $48.53 billion, a P/E ratio of 75.79, a PEG ratio of 1.28 and a beta of 1.32. The stock's fifty day moving average price is $149.05 and its 200-day moving average price is $168.01. 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 $110.63 and a one year high of $200.49.

Ares Management (NYSE:ARES - Get Free Report) last announced its quarterly earnings results on Wednesday, February 5th. The asset manager reported $1.23 earnings per share (EPS) 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%. Equities research analysts expect 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. Investors of record on Monday, March 17th were given a $1.12 dividend. This is a boost from Ares Management's previous quarterly dividend of $0.93. This represents a $4.48 annualized dividend and a yield of 2.91%. The ex-dividend date of this dividend was Monday, March 17th. Ares Management's dividend payout ratio (DPR) is currently 183.25%.

Insiders Place Their Bets

In related news, CEO Michael J. Arougheti sold 110,845 shares of the firm's 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 completion of the transaction, the chief executive officer now owns 1,400,000 shares of the company's stock, valued at $214,438,000. This trade represents a 7.34 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider R. Kipp Deveer sold 78,933 shares of the company's 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 completion of the sale, the insider now directly owns 1,150,000 shares of the company's stock, valued at $218,523,000. The trade was a 6.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 329,113 shares of company stock worth $54,409,915. 0.52% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

ARES has been the topic of several analyst reports. TD Cowen reduced their target price on shares of Ares Management from $216.00 to $161.00 and set a "buy" rating on the stock in a report on Wednesday, April 9th. Oppenheimer raised shares of Ares Management from a "market perform" rating to an "outperform" rating and set a $159.00 price objective for the company in a research report on Wednesday, April 16th. Barclays dropped their target price on Ares Management from $217.00 to $142.00 and set an "overweight" rating on the stock in a report on Monday, April 7th. Bank of America decreased their price target on Ares Management from $221.00 to $201.00 and set a "buy" rating for the company in a report on Friday, April 4th. Finally, Citizens Jmp upgraded Ares Management from a "market perform" rating to an "outperform" rating and set a $165.00 price objective on the stock in a report on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $165.00.

Ares Management 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.