Alberta Investment Management Corp Sells 63,890 Shares of Ares Management Co. (NYSE:ARES)

Alberta Investment Management Corp lowered its position in shares of Ares Management Co. (NYSE:ARES - Free Report) by 95.5% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 3,000 shares of the asset manager's stock after selling 63,890 shares during the quarter. Alberta Investment Management Corp's holdings in Ares Management were worth $357,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of ARES. Hollencrest Capital Management purchased a new stake in shares of Ares Management during the 3rd quarter worth about $27,000. Rise Advisors LLC grew its holdings in shares of Ares Management by 73.9% during the 4th quarter. Rise Advisors LLC now owns 240 shares of the asset manager's stock worth $29,000 after purchasing an additional 102 shares during the period. Hartford Financial Management Inc. grew its holdings in shares of Ares Management by 47.4% during the 4th quarter. Hartford Financial Management Inc. now owns 280 shares of the asset manager's stock worth $33,000 after purchasing an additional 90 shares during the period. Arlington Trust Co LLC acquired a new position in Ares Management during the 4th quarter worth approximately $34,000. Finally, TFO Wealth Partners LLC lifted its position in Ares Management by 29,200.0% during the 4th quarter. TFO Wealth Partners LLC now owns 293 shares of the asset manager's stock worth $35,000 after acquiring an additional 292 shares in the last quarter. Hedge funds and other institutional investors own 50.03% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently commented on ARES shares. Royal Bank of Canada reissued an "outperform" rating and set a $150.00 price target on shares of Ares Management in a research report on Wednesday, May 22nd. Barclays reduced their price target on Ares Management from $153.00 to $150.00 and set an "overweight" rating on the stock in a research report on Friday, May 3rd. JPMorgan Chase & Co. boosted their price target on Ares Management from $119.00 to $141.00 and gave the stock an "overweight" rating in a research report on Friday, February 9th. Deutsche Bank Aktiengesellschaft started coverage on Ares Management in a research report on Tuesday, May 28th. They set a "buy" rating and a $176.00 price target on the stock. Finally, TD Cowen boosted their price target on Ares Management from $154.00 to $171.00 and gave the stock a "buy" rating in a research report on Wednesday, May 22nd. One research analyst has rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $133.43.

Ares Management Stock Performance

Shares of ARES stock traded down $3.00 on Tuesday, hitting $135.20. 1,605,199 shares of the stock traded hands, compared to its average volume of 1,094,344. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.03 and a quick ratio of 1.03. The company has a market capitalization of $41.89 billion, a PE ratio of 61.96, a PEG ratio of 1.32 and a beta of 1.21. Ares Management Co. has a 1-year low of $87.43 and a 1-year high of $150.12. The company's fifty day moving average is $137.08 and its 200 day moving average is $127.51.

Ares Management (NYSE:ARES - Get Free Report) last posted its quarterly earnings results on Thursday, May 2nd. The asset manager reported $0.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.93 by ($0.13). The firm had revenue of $707.36 million for the quarter, compared to analyst estimates of $814.88 million. Ares Management had a net margin of 12.86% and a return on equity of 21.22%. During the same period in the prior year, the company posted $0.71 earnings per share. On average, equities research analysts predict that Ares Management Co. will post 4.23 earnings per share for the current fiscal year.

Ares Management Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be given a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a dividend yield of 2.75%. The ex-dividend date of this dividend is Friday, June 14th. Ares Management's dividend payout ratio is currently 166.82%.

Insider Activity at Ares Management

In related news, CEO Michael J. Arougheti sold 74,585 shares of the company's stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $132.97, for a total transaction of $9,917,567.45. Following the completion of the transaction, the chief executive officer now directly owns 1,375,000 shares in the company, valued at approximately $182,833,750. The sale was disclosed in a document filed with the SEC, which is available through this link. In related news, Chairman Antony P. Ressler sold 22,103 shares of the company's stock in a transaction on Monday, March 18th. The stock was sold at an average price of $130.86, for a total transaction of $2,892,398.58. Following the completion of the transaction, the chairman now directly owns 73,982 shares in the company, valued at approximately $9,681,284.52. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Michael J. Arougheti sold 74,585 shares of the company's stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $132.97, for a total value of $9,917,567.45. Following the transaction, the chief executive officer now owns 1,375,000 shares of the company's stock, valued at $182,833,750. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,713,844 shares of company stock valued at $231,791,136. Corporate insiders own 41.89% 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.