Premier Path Wealth Partners LLC Purchases Shares of 2,444 Ares Management Co. (NYSE:ARES)

Premier Path Wealth Partners LLC purchased a new stake in shares of Ares Management Co. (NYSE:ARESFree Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 2,444 shares of the asset manager’s stock, valued at approximately $291,000.

Several other hedge funds have also bought and sold shares of the stock. Cambridge Investment Research Advisors Inc. lifted its position in shares of Ares Management by 68.0% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 6,485 shares of the asset manager’s stock valued at $527,000 after acquiring an additional 2,624 shares in the last quarter. Bank of Montreal Can lifted its position in shares of Ares Management by 172.3% in the first quarter. Bank of Montreal Can now owns 32,899 shares of the asset manager’s stock valued at $2,690,000 after acquiring an additional 20,816 shares in the last quarter. MetLife Investment Management LLC purchased a new position in shares of Ares Management in the first quarter valued at about $684,000. BlackRock Inc. lifted its position in shares of Ares Management by 0.7% in the first quarter. BlackRock Inc. now owns 6,191,021 shares of the asset manager’s stock valued at $502,895,000 after acquiring an additional 45,745 shares in the last quarter. Finally, Great West Life Assurance Co. Can lifted its position in shares of Ares Management by 12.4% in the first quarter. Great West Life Assurance Co. Can now owns 7,460 shares of the asset manager’s stock worth $645,000 after buying an additional 825 shares in the last quarter. Institutional investors own 50.03% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on ARES shares. JPMorgan Chase & Co. boosted their target price on Ares Management from $119.00 to $141.00 and gave the stock an “overweight” rating in a research report on Friday, February 9th. Jefferies Financial Group downgraded Ares Management from a “buy” rating to a “hold” rating and set a $122.00 target price on the stock. in a research report on Tuesday, January 9th. Morgan Stanley boosted their target price on Ares Management from $109.00 to $118.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 24th. Barclays upped their price objective on Ares Management from $146.00 to $157.00 and gave the company an “overweight” rating in a research report on Monday, February 12th. Finally, Wells Fargo & Company upped their price objective on Ares Management from $112.00 to $126.00 and gave the company an “equal weight” rating in a research report on Friday, February 9th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $123.45.

Read Our Latest Stock Analysis on Ares Management

Ares Management Stock Down 2.0 %

Ares Management stock opened at $133.87 on Monday. The business has a fifty day moving average of $129.13 and a two-hundred day moving average of $116.03. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.69. The firm has a market cap of $41.45 billion, a P/E ratio of 56.01, a P/E/G ratio of 0.98 and a beta of 1.18. Ares Management Co. has a twelve month low of $77.50 and a twelve month high of $139.48.

Ares Management (NYSE:ARESGet Free Report) last issued its quarterly earnings data on Thursday, February 8th. The asset manager reported $1.21 EPS for the quarter, beating the consensus estimate of $1.10 by $0.11. Ares Management had a return on equity of 21.01% and a net margin of 13.06%. The firm had revenue of $1.05 billion during the quarter, compared to analyst estimates of $862.71 million. During the same quarter in the prior year, the business posted $1.21 EPS. On average, analysts forecast that Ares Management Co. will post 4.6 earnings per share for the current fiscal year.

Ares Management Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 29th. Stockholders of record on Friday, March 15th will be issued a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a dividend yield of 2.78%. The ex-dividend date of this dividend is Thursday, March 14th. This is a positive change from Ares Management’s previous quarterly dividend of $0.77. Ares Management’s dividend payout ratio is currently 155.65%.

Insider Activity

In related news, Chairman Antony P. Ressler sold 15,304 shares of the firm’s stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $134.58, for a total value of $2,059,612.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider R. Kipp Deveer sold 82,796 shares of the firm’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $136.47, for a total value of $11,299,170.12. Following the completion of the transaction, the insider now owns 1,245,729 shares in the company, valued at approximately $170,004,636.63. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Antony P. Ressler sold 15,304 shares of the firm’s stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $134.58, for a total value of $2,059,612.32. The disclosure for this sale can be found here. In the last quarter, insiders sold 471,060 shares of company stock worth $62,975,619. Insiders own 47.34% of the company’s stock.

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.

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

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