Price T Rowe Associates Inc. MD Has $281.16 Million Stock Holdings in Ares Management Co. (NYSE:ARES)

Price T Rowe Associates Inc. MD lowered its position in shares of Ares Management Co. (NYSE:ARES - Free Report) by 7.6% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,588,173 shares of the asset manager's stock after selling 131,255 shares during the quarter. Price T Rowe Associates Inc. MD owned about 0.51% of Ares Management worth $281,155,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Versant Capital Management Inc boosted its holdings in Ares Management by 67.0% in the 4th quarter. Versant Capital Management Inc now owns 162 shares of the asset manager's stock valued at $29,000 after purchasing an additional 65 shares during the period. Transce3nd LLC acquired a new stake in shares of Ares Management during the 4th quarter worth $29,000. Noble Wealth Management PBC bought a new position in shares of Ares Management in the fourth quarter worth $36,000. GAMMA Investing LLC lifted its position in Ares Management by 53.4% during the fourth quarter. GAMMA Investing LLC now owns 227 shares of the asset manager's stock worth $40,000 after purchasing an additional 79 shares during the period. Finally, Avalon Trust Co bought a new position in Ares Management in the 4th quarter valued at about $53,000. Institutional investors own 50.03% of the company's stock.

Insider Buying and Selling

In other Ares Management news, Director Ashish Bhutani acquired 10,000 shares of the company's stock in a transaction on Tuesday, March 11th. The shares were bought at an average cost of $141.33 per share, with a total value of $1,413,300.00. Following the completion of the acquisition, 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 ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman Bennett Rosenthal sold 69,809 shares of the company's stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $161.01, for a total transaction of $11,239,947.09. Following the transaction, the chairman now owns 30,191 shares of the company's stock, valued at $4,861,052.91. This represents a 69.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 329,113 shares of company stock valued at $54,409,915 over the last 90 days. Insiders own 1.20% of the company's stock.

Ares Management Stock Up 0.6 %

NYSE:ARES opened at $153.86 on Friday. Ares Management Co. has a twelve month low of $110.63 and a twelve month high of $200.49. The company's 50 day moving average is $149.05 and its two-hundred day moving average is $167.94. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.53. The company has a market cap of $48.53 billion, a PE ratio of 75.79, a P/E/G ratio of 1.28 and a beta of 1.32.

Ares Management (NYSE:ARES - Get Free Report) last announced its quarterly earnings data 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%. Analysts anticipate that Ares Management Co. will post 5.28 EPS for the current year.

Ares Management Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were issued a $1.12 dividend. This is an increase from Ares Management's previous quarterly dividend of $0.93. This represents a $4.48 annualized dividend and a dividend yield of 2.91%. The ex-dividend date was Monday, March 17th. Ares Management's dividend payout ratio is 183.25%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on ARES. Barclays reduced their price target on Ares Management from $217.00 to $142.00 and set an "overweight" rating on the stock in a report on Monday, April 7th. TD Cowen reduced their price objective 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. Wells Fargo & Company cut their price objective on shares of Ares Management from $187.00 to $156.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. JMP Securities raised 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 report on Tuesday, April 8th. Finally, Citizens Jmp raised shares of Ares Management from a "market perform" rating to an "outperform" rating and set a $165.00 price target on the stock in a report on Tuesday, April 8th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $165.00.

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.

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