DnB Asset Management AS Has $6.08 Million Position in Ares Management Co. (NYSE:ARES)

DnB Asset Management AS cut its holdings in shares of Ares Management Co. (NYSE:ARESGet Rating) by 21.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 106,952 shares of the asset manager’s stock after selling 29,439 shares during the period. DnB Asset Management AS’s holdings in Ares Management were worth $6,083,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP raised its position in shares of Ares Management by 2.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 371,045 shares of the asset manager’s stock worth $30,154,000 after acquiring an additional 10,011 shares during the last quarter. BNP Paribas Arbitrage SA boosted its stake in shares of Ares Management by 3.1% in the 4th quarter. BNP Paribas Arbitrage SA now owns 23,158 shares of the asset manager’s stock valued at $1,882,000 after purchasing an additional 691 shares during the last quarter. Citigroup Inc. increased its position in shares of Ares Management by 14.8% during the fourth quarter. Citigroup Inc. now owns 58,907 shares of the asset manager’s stock worth $4,787,000 after buying an additional 7,594 shares during the period. JPMorgan Chase & Co. raised its stake in Ares Management by 532.9% during the fourth quarter. JPMorgan Chase & Co. now owns 1,465,785 shares of the asset manager’s stock worth $119,124,000 after buying an additional 1,234,187 shares during the last quarter. Finally, Rhumbline Advisers lifted its holdings in Ares Management by 5.5% in the fourth quarter. Rhumbline Advisers now owns 134,908 shares of the asset manager’s stock valued at $10,964,000 after buying an additional 7,049 shares during the period. 48.61% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, General Counsel Aghili Naseem Sagati sold 7,446 shares of the stock in a transaction that occurred on Wednesday, August 3rd. The stock was sold at an average price of $73.18, for a total transaction of $544,898.28. Following the completion of the sale, the general counsel now directly owns 218,082 shares of the company’s stock, valued at $15,959,240.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 47.38% of the company’s stock.

Ares Management Stock Performance

Shares of Ares Management stock opened at $74.66 on Monday. Ares Management Co. has a 52 week low of $53.15 and a 52 week high of $90.08. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.58. The business has a 50 day moving average price of $71.53 and a 200-day moving average price of $70.60. The company has a market cap of $21.94 billion, a PE ratio of 47.86, a price-to-earnings-growth ratio of 0.99 and a beta of 1.19.

Ares Management (NYSE:ARESGet Rating) last released its quarterly earnings results on Thursday, July 28th. The asset manager reported $0.74 EPS for the quarter, beating analysts’ consensus estimates of $0.70 by $0.04. The business had revenue of $618.17 million during the quarter, compared to analyst estimates of $618.30 million. Ares Management had a return on equity of 14.31% and a net margin of 8.23%. Equities analysts anticipate that Ares Management Co. will post 3.22 earnings per share for the current fiscal year.

Ares Management Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Friday, September 16th will be paid a $0.61 dividend. The ex-dividend date is Thursday, September 15th. This represents a $2.44 annualized dividend and a yield of 3.27%. Ares Management’s dividend payout ratio (DPR) is 156.41%.

Analysts Set New Price Targets

ARES has been the subject of a number of recent analyst reports. JMP Securities assumed coverage on Ares Management in a report on Wednesday, June 8th. They set a “market perform” rating for the company. TheStreet downgraded Ares Management from a “b” rating to a “c+” rating in a report on Friday, June 3rd. UBS Group increased their price target on Ares Management from $68.00 to $82.00 and gave the stock a “buy” rating in a report on Monday, August 1st. The Goldman Sachs Group lowered their price objective on shares of Ares Management from $87.00 to $78.00 and set a “buy” rating for the company in a research note on Wednesday, June 29th. Finally, Wells Fargo & Company cut their target price on shares of Ares Management from $89.00 to $75.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 13th. One analyst has rated the stock with a sell rating, two have given a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $89.00.

About Ares Management

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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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Institutional Ownership by Quarter for Ares Management (NYSE:ARES)

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