West Oak Capital LLC boosted its position in Ares Management Co. (NYSE:ARES - Free Report) by 1,785.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,600 shares of the asset manager's stock after buying an additional 6,250 shares during the period. West Oak Capital LLC's holdings in Ares Management were worth $1,168,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. TD Asset Management Inc grew its holdings in shares of Ares Management by 7.4% during the second quarter. TD Asset Management Inc now owns 27,370 shares of the asset manager's stock valued at $3,648,000 after buying an additional 1,875 shares during the last quarter. Victory Capital Management Inc. boosted its stake in Ares Management by 8.2% during the 2nd quarter. Victory Capital Management Inc. now owns 61,417 shares of the asset manager's stock valued at $8,186,000 after purchasing an additional 4,629 shares during the last quarter. Private Advisor Group LLC increased its holdings in Ares Management by 59.3% during the 2nd quarter. Private Advisor Group LLC now owns 4,171 shares of the asset manager's stock worth $556,000 after purchasing an additional 1,553 shares in the last quarter. Caprock Group LLC purchased a new stake in shares of Ares Management in the second quarter worth approximately $290,000. Finally, Ashton Thomas Private Wealth LLC bought a new position in shares of Ares Management in the second quarter valued at approximately $78,000. 50.03% of the stock is owned by institutional investors and hedge funds.
Insider Activity at Ares Management
In related news, insider Ryan Berry sold 18,329 shares of Ares Management stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $175.18, for a total transaction of $3,210,874.22. Following the sale, the insider now directly owns 254,885 shares in the company, valued at $44,650,754.30. The trade was a 6.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Michael J. Arougheti sold 15,825 shares of the firm's stock in a transaction on Monday, November 18th. The shares were sold at an average price of $167.24, for a total value of $2,646,573.00. Following the transaction, the chief executive officer now directly owns 214,079 shares of the company's stock, valued at $35,802,571.96. This represents a 6.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 614,167 shares of company stock worth $106,716,247 over the last quarter. Corporate insiders own 41.89% of the company's stock.
Ares Management Price Performance
Shares of NYSE ARES traded down $7.06 during mid-day trading on Friday, reaching $175.24. 942,837 shares of the company were exchanged, compared to its average volume of 1,100,256. Ares Management Co. has a 52 week low of $112.83 and a 52 week high of $185.06. The company's 50 day moving average price is $175.25 and its 200 day moving average price is $158.20. The stock has a market capitalization of $54.86 billion, a PE ratio of 80.76, a PEG ratio of 1.99 and a beta of 1.18. 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 (NYSE:ARES - Get Free Report) last issued its earnings results on Friday, November 1st. The asset manager reported $0.95 EPS for the quarter, topping analysts' consensus estimates of $0.94 by $0.01. Ares Management had a net margin of 12.51% and a return on equity of 19.89%. The company had revenue of $1.13 billion for the quarter, compared to analysts' expectations of $833.58 million. During the same quarter last year, the company earned $0.83 EPS. Sell-side analysts forecast that Ares Management Co. will post 4.06 earnings per share for the current fiscal year.
Ares Management Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th were paid a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a yield of 2.12%. The ex-dividend date of this dividend was Tuesday, December 17th. Ares Management's payout ratio is 171.43%.
Wall Street Analysts Forecast Growth
ARES has been the subject of a number of recent analyst reports. Morgan Stanley upped their price objective on shares of Ares Management from $136.00 to $162.00 and gave the stock an "equal weight" rating in a research report on Thursday, October 10th. Wells Fargo & Company raised Ares Management from an "equal weight" rating to an "overweight" rating and upped their target price for the company from $176.00 to $212.00 in a report on Thursday, December 12th. StockNews.com lowered Ares Management from a "hold" rating to a "sell" rating in a report on Wednesday. Keefe, Bruyette & Woods upgraded Ares Management from a "market perform" rating to an "outperform" rating and upped their price objective for the company from $166.00 to $202.00 in a research note on Friday, December 20th. Finally, JPMorgan Chase & Co. lowered their target price on Ares Management from $176.00 to $174.00 and set an "overweight" rating on the stock in a research note on Tuesday, November 5th. One analyst has rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $172.33.
Read Our Latest Stock Analysis on ARES
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.
Read More
Want to see what other hedge funds are holding ARES? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ares Management Co. (NYSE:ARES - Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Ares Management, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Ares Management wasn't on the list.
While Ares Management currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering where to start (or end) with AI stocks? These 10 simple stocks can help investors build long-term wealth as artificial intelligence continues to grow into the future.
Get This Free Report
