Janney Montgomery Scott LLC Has $10.40 Million Stock Holdings in Ares Management Co. (NYSE:ARES)

Janney Montgomery Scott LLC raised its holdings in Ares Management Co. (NYSE:ARESFree Report) by 1.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 101,059 shares of the asset manager’s stock after buying an additional 1,662 shares during the period. Janney Montgomery Scott LLC’s holdings in Ares Management were worth $10,396,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Legacy Financial Group LLC bought a new position in shares of Ares Management in the 3rd quarter valued at about $27,000. Harbour Investments Inc. grew its position in shares of Ares Management by 210.5% in the 1st quarter. Harbour Investments Inc. now owns 354 shares of the asset manager’s stock valued at $30,000 after acquiring an additional 240 shares during the period. Geneos Wealth Management Inc. grew its position in shares of Ares Management by 300.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 400 shares of the asset manager’s stock valued at $32,000 after acquiring an additional 300 shares during the period. Northwestern Mutual Wealth Management Co. grew its position in shares of Ares Management by 951.0% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 515 shares of the asset manager’s stock valued at $35,000 after acquiring an additional 466 shares during the period. Finally, Signaturefd LLC boosted its holdings in shares of Ares Management by 88.0% during the 2nd quarter. Signaturefd LLC now owns 440 shares of the asset manager’s stock worth $42,000 after buying an additional 206 shares during the period. 50.03% of the stock is currently owned by institutional investors and hedge funds.

Ares Management Price Performance

ARES stock opened at $136.76 on Friday. The company has a 50 day simple moving average of $118.06 and a 200 day simple moving average of $108.88. The stock has a market cap of $42.01 billion, a price-to-earnings ratio of 63.61, a P/E/G ratio of 1.15 and a beta of 1.18. Ares Management Co. has a 1 year low of $71.36 and a 1 year high of $139.48. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.98 and a quick ratio of 0.98.

Ares Management (NYSE:ARESGet Free Report) last released its quarterly earnings data on Thursday, February 8th. The asset manager reported $1.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.10 by $0.11. The business had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $862.71 million. Ares Management had a net margin of 11.89% and a return on equity of 17.60%. During the same period in the prior year, the company earned $1.21 EPS. Research analysts anticipate that Ares Management Co. will post 3.54 EPS for the current fiscal year.

Ares Management Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 29th. Shareholders of record on Friday, March 15th will be issued a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a yield of 2.72%. This is a positive change from Ares Management’s previous quarterly dividend of $0.77. The ex-dividend date of this dividend is Thursday, March 14th. Ares Management’s payout ratio is presently 143.26%.

Insiders Place Their Bets

In other Ares Management news, CEO Michael J. Arougheti sold 150,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $105.17, for a total transaction of $15,775,500.00. Following the sale, the chief executive officer now directly owns 825,000 shares of the company’s stock, valued at approximately $86,765,250. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 47.34% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on the stock. Barclays reduced their target price on shares of Ares Management from $130.00 to $118.00 and set an “overweight” rating for the company in a report on Wednesday, November 1st. JPMorgan Chase & Co. lifted their target price on shares of Ares Management from $119.00 to $141.00 and gave the stock an “overweight” rating in a report on Friday. Jefferies Financial Group downgraded shares of Ares Management from a “buy” rating to a “hold” rating and set a $122.00 price objective for the company. in a report on Tuesday, January 9th. Wells Fargo & Company boosted their price objective on shares of Ares Management from $112.00 to $126.00 and gave the company an “equal weight” rating in a report on Friday. Finally, Morgan Stanley boosted their price objective on shares of Ares Management from $109.00 to $118.00 and gave the company an “equal weight” rating in a report on Wednesday, January 24th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, Ares Management currently has a consensus rating of “Hold” and a consensus price target of $117.17.

Check Out Our Latest Stock Report on Ares Management

Ares Management Company Profile

(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.

Further Reading

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

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