Mackenzie Financial Corp Acquires 243 Shares of Ares Management Co. (NYSE:ARES)

Mackenzie Financial Corp raised its position in Ares Management Co. (NYSE:ARES) by 3.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,030 shares of the asset manager’s stock after buying an additional 243 shares during the period. Mackenzie Financial Corp’s holdings in Ares Management were worth $836,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Rise Advisors LLC lifted its position in shares of Ares Management by 73.9% during the fourth quarter. Rise Advisors LLC now owns 240 shares of the asset manager’s stock worth $29,000 after purchasing an additional 102 shares in the last quarter. Hollencrest Capital Management acquired a new position in shares of Ares Management during the third quarter worth approximately $27,000. Legacy Financial Group LLC acquired a new position in shares of Ares Management during the third quarter worth approximately $27,000. Hartford Financial Management Inc. raised its stake in shares of Ares Management by 47.4% during the fourth quarter. Hartford Financial Management Inc. now owns 280 shares of the asset manager’s stock worth $33,000 after buying an additional 90 shares during the last quarter. Finally, Arlington Trust Co LLC bought a new stake in shares of Ares Management during the fourth quarter worth approximately $34,000. 50.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Ares Management

In related news, insider R. Kipp Deveer sold 82,796 shares of the firm’s stock in a transaction on Wednesday, February 14th. The shares were 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 of the company’s stock, valued at $170,004,636.63. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, insider David B. Kaplan sold 39,088 shares of Ares Management stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $132.47, for a total value of $5,177,987.36. Following the completion of the transaction, the insider now owns 210,912 shares of the company’s stock, valued at approximately $27,939,512.64. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider R. Kipp Deveer sold 82,796 shares of Ares Management stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $136.47, for a total transaction of $11,299,170.12. Following the completion of the transaction, the insider now directly owns 1,245,729 shares of the company’s stock, valued at approximately $170,004,636.63. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,494,440 shares of company stock valued at $199,049,946. Corporate insiders own 47.34% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on ARES. Wells Fargo & Company boosted their price target on shares of Ares Management from $112.00 to $126.00 and gave the stock an “equal weight” rating in a research note on Friday, February 9th. JPMorgan Chase & Co. boosted their price target on shares of Ares Management from $119.00 to $141.00 and gave the stock an “overweight” rating in a research note on Friday, February 9th. Royal Bank of Canada boosted their price target on shares of Ares Management from $135.00 to $145.00 and gave the stock an “outperform” rating in a research note on Monday, February 12th. Jefferies Financial Group lowered shares of Ares Management from a “buy” rating to a “hold” rating and set a $122.00 target price on the stock. in a report on Tuesday, January 9th. Finally, UBS Group increased their target price on shares of Ares Management from $156.00 to $160.00 and gave the stock a “buy” rating in a report on Friday, April 12th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Ares Management currently has an average rating of “Hold” and an average price target of $126.17.

Ares Management Trading Down 1.6 %

Shares of NYSE:ARES opened at $133.71 on Friday. Ares Management Co. has a 12 month low of $77.97 and a 12 month high of $139.48. 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 company’s fifty day simple moving average is $133.10 and its 200 day simple moving average is $120.58. The firm has a market cap of $41.40 billion, a price-to-earnings ratio of 55.95, a PEG ratio of 1.03 and a beta of 1.17.

Ares Management (NYSE:ARES) last released its earnings results on Thursday, February 8th. The asset manager reported $1.21 earnings per share for the quarter, beating analysts’ consensus estimates of $1.10 by $0.11. The business had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $862.71 million. Ares Management had a net margin of 13.06% and a return on equity of 21.01%. During the same quarter last year, the firm earned $1.21 earnings per share. As a group, research analysts forecast that Ares Management Co. will post 4.48 EPS for the current fiscal year.

Ares Management Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were given a $0.93 dividend. The ex-dividend date was Thursday, March 14th. This represents a $3.72 dividend on an annualized basis and a yield of 2.78%. This is an increase from Ares Management’s previous quarterly dividend of $0.77. Ares Management’s dividend payout ratio (DPR) is 155.65%.

Ares Management Profile

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.