21,200 Shares in Ares Management Co. (NYSE:ARES) Acquired by Oribel Capital Management LP

Oribel Capital Management LP purchased a new stake in shares of Ares Management Co. (NYSE:ARES - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 21,200 shares of the asset manager's stock, valued at approximately $3,753,000.

A number of other large investors have also recently made changes to their positions in ARES. Toronto Dominion Bank lifted its position in Ares Management by 31.2% during the third quarter. Toronto Dominion Bank now owns 22,750 shares of the asset manager's stock valued at $3,545,000 after purchasing an additional 5,404 shares during the period. Raymond James Financial Inc. bought a new position in shares of Ares Management during the 4th quarter valued at $335,858,000. Charles Schwab Investment Management Inc. boosted its stake in shares of Ares Management by 4.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 715,258 shares of the asset manager's stock worth $126,622,000 after buying an additional 32,273 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Ares Management by 9.0% in the third quarter. JPMorgan Chase & Co. now owns 8,244,179 shares of the asset manager's stock worth $1,284,773,000 after acquiring an additional 679,462 shares during the period. Finally, Caldwell Investment Management Ltd. grew its holdings in shares of Ares Management by 134.1% in the fourth quarter. Caldwell Investment Management Ltd. now owns 10,300 shares of the asset manager's stock worth $1,842,000 after acquiring an additional 5,900 shares during the period. 50.03% of the stock is currently owned by institutional investors.

Ares Management Price Performance

NYSE ARES traded down $1.58 during trading on Friday, hitting $134.19. 1,280,547 shares of the stock traded hands, compared to its average volume of 1,365,942. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.53. Ares Management Co. has a 12-month low of $110.63 and a 12-month high of $200.49. The firm has a 50-day simple moving average of $159.01 and a 200-day simple moving average of $169.11. The company has a market capitalization of $42.32 billion, a P/E ratio of 65.83, a price-to-earnings-growth ratio of 1.28 and a beta of 1.32.

Remove Ads

Ares Management (NYSE:ARES - Get Free Report) last posted its earnings results 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 net margin of 11.35% and a return on equity of 16.64%. As a group, analysts predict that Ares Management Co. will post 5.28 EPS for the current year.

Ares Management Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were issued a $1.12 dividend. The ex-dividend date was Monday, March 17th. This is an increase from Ares Management's previous quarterly dividend of $0.93. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.34%. Ares Management's payout ratio is 183.25%.

Insider Activity

In other news, Director Ashish Bhutani acquired 10,000 shares of the company's stock in a transaction on Tuesday, March 11th. The stock was bought at an average cost of $141.33 per share, with a total value of $1,413,300.00. Following the completion of the purchase, the director now directly owns 22,905 shares of the company's stock, valued at $3,237,163.65. This represents a 77.49 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider R. Kipp Deveer sold 78,933 shares of the stock in a transaction on 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 in the company, valued at approximately $218,523,000. This represents a 6.42 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 329,113 shares of company stock worth $54,409,915. 1.20% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Wells Fargo & Company dropped their target price on Ares Management from $187.00 to $156.00 and set an "overweight" rating on the stock in a research report on Tuesday. JMP Securities upgraded shares of Ares Management from a "market perform" rating to a "market outperform" rating and set a $165.00 price objective on the stock in a research note on Tuesday. Barclays cut their target price on shares of Ares Management from $217.00 to $142.00 and set an "overweight" rating for the company in a research report on Monday. TD Cowen decreased their price target on shares of Ares Management from $216.00 to $161.00 and set a "buy" rating on the stock in a research report on Wednesday. Finally, The Goldman Sachs Group cut their price objective on shares of Ares Management from $188.00 to $166.00 and set a "buy" rating for the company in a research report on Thursday, April 3rd. One investment 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 stock has an average rating of "Moderate Buy" and an average price target of $166.07.

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.