Ares Management Co. (NYSE:ARES) Major Shareholder Ares Management Llc Purchases 300,000 Shares

Ares Management Co. (NYSE:ARES – Get Rating) major shareholder Ares Management Llc purchased 300,000 shares of the business’s stock in a transaction dated Thursday, January 19th. The stock was bought at an average cost of $1.33 per share, with a total value of $399,000.00. Following the completion of the acquisition, the insider now owns 52,401,580 shares of the company’s stock, valued at $69,694,101.40. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Ares Management Llc also recently made the following trade(s):

• On Tuesday, January 17th, Ares Management Llc bought 400,000 shares of Ares Management stock. The stock was acquired at an average price of $1.36 per share, with a total value of $544,000.00.
• On Friday, January 13th, Ares Management Llc bought 330,000 shares of Ares Management stock. The stock was acquired at an average price of $1.39 per share, with a total value of $458,700.00.

Ares Management Price Performance

Shares of NYSE ARES opened at $78.63 on Friday. Ares Management Co. has a 1-year low of $53.15 and a 1-year high of $86.06. The business has a 50-day moving average of $73.23 and a 200-day moving average of $71.50. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.13 and a quick ratio of 0.13. The company has a market capitalization of $23.13 billion, a price-to-earnings ratio of 88.35, a PEG ratio of 0.69 and a beta of 1.29.

Ares Management (NYSE:ARES – Get Rating) last issued its earnings results on Thursday, October 27th. The asset manager reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.01. The company had revenue of $609.56 million during the quarter, compared to the consensus estimate of $636.07 million. Ares Management had a return on equity of 14.90% and a net margin of 5.08%. During the same quarter in the prior year, the business earned $0.62 earnings per share. On average, equities analysts anticipate that Ares Management Co. will post 3.23 EPS for the current fiscal year.

Ares Management Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 30th. Investors of record on Friday, December 16th were issued a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a yield of 3.10%. The ex-dividend date was Thursday, December 15th. Ares Management’s dividend payout ratio is currently 274.16%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of ARES. Vanguard Group Inc. raised its stake in Ares Management by 3.4% during the first quarter. Vanguard Group Inc. now owns 14,038,275 shares of the asset manager’s stock valued at $1,140,328,000 after buying an additional 458,646 shares in the last quarter. BlackRock Inc. raised its stake in Ares Management by 0.7% during the first quarter. BlackRock Inc. now owns 6,191,021 shares of the asset manager’s stock valued at $502,895,000 after buying an additional 45,745 shares in the last quarter. HMI Capital Management L.P. raised its stake in Ares Management by 5.0% during the third quarter. HMI Capital Management L.P. now owns 3,987,588 shares of the asset manager’s stock valued at $247,031,000 after buying an additional 188,618 shares in the last quarter. Franklin Resources Inc. raised its stake in Ares Management by 4.3% during the second quarter. Franklin Resources Inc. now owns 2,830,538 shares of the asset manager’s stock valued at $160,944,000 after buying an additional 117,080 shares in the last quarter. Finally, State Street Corp raised its stake in Ares Management by 1.1% during the third quarter. State Street Corp now owns 2,339,231 shares of the asset manager’s stock valued at $144,915,000 after buying an additional 26,436 shares in the last quarter. Hedge funds and other institutional investors own 47.96% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on ARES. Barclays upped their target price on Ares Management from $82.00 to $87.00 and gave the company an “overweight” rating in a research note on Thursday, January 12th. Royal Bank of Canada upped their target price on Ares Management from $83.00 to $93.00 and gave the company an “outperform” rating in a research note on Tuesday, November 1st. BMO Capital Markets lowered Ares Management from an “outperform” rating to a “market perform” rating and set a $93.00 target price for the company. in a research note on Monday, November 14th. Wells Fargo & Company boosted their price target on Ares Management from $78.00 to $81.00 and gave the company an “overweight” rating in a research report on Friday, October 28th. Finally, UBS Group boosted their price target on Ares Management from $78.00 to $95.00 and gave the company a “buy” rating in a research report on Tuesday, November 15th. One analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $86.88.

Ares Management Company Profile

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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.