M&T Bank Corp Has $2.06 Million Stake in Ares Management Co. (NYSE:ARES)

M&T Bank Corp reduced its position in shares of Ares Management Co. (NYSE:ARES) by 7.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 17,345 shares of the asset manager’s stock after selling 1,435 shares during the period. M&T Bank Corp’s holdings in Ares Management were worth $2,062,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in ARES. Hollencrest Capital Management acquired a new stake in shares of Ares Management in the third quarter valued at approximately $27,000. Rise Advisors LLC raised its holdings in Ares Management by 73.9% in the 4th quarter. Rise Advisors LLC now owns 240 shares of the asset manager’s stock valued at $29,000 after acquiring an additional 102 shares in the last quarter. Hartford Financial Management Inc. lifted its position in shares of Ares Management by 47.4% during the 4th quarter. Hartford Financial Management Inc. now owns 280 shares of the asset manager’s stock valued at $33,000 after acquiring an additional 90 shares during the period. Arlington Trust Co LLC acquired a new stake in shares of Ares Management during the 4th quarter worth $34,000. Finally, Livforsakringsbolaget Skandia Omsesidigt bought a new position in shares of Ares Management in the fourth quarter worth $36,000. 50.03% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on ARES. UBS Group increased their price objective on shares of Ares Management from $156.00 to $160.00 and gave the stock a “buy” rating in a research note on Friday, April 12th. JMP Securities reiterated a “market perform” rating on shares of Ares Management in a research report on Tuesday, April 9th. 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 research report on Wednesday, January 24th. JPMorgan Chase & Co. raised their target price on Ares Management from $119.00 to $141.00 and gave the company an “overweight” rating in a report on Friday, February 9th. Finally, Royal Bank of Canada boosted their price target on Ares Management from $135.00 to $145.00 and gave the stock an “outperform” rating in a report on Monday, February 12th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $128.46.

Ares Management Stock Up 2.7 %

NYSE:ARES opened at $142.38 on Friday. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.02 and a quick ratio of 1.02. Ares Management Co. has a one year low of $80.07 and a one year high of $143.13. The firm’s 50 day simple moving average is $133.67 and its 200 day simple moving average is $122.46. The company has a market cap of $44.08 billion, a PE ratio of 63.85, a P/E/G ratio of 1.00 and a beta of 1.17.

Ares Management (NYSE:ARES) last issued its quarterly earnings data on Thursday, May 2nd. The asset manager reported $0.80 earnings per share for the quarter, missing the consensus estimate of $0.93 by ($0.13). The business had revenue of $707.36 million during the quarter, compared to the consensus estimate of $814.88 million. Ares Management had a return on equity of 21.63% and a net margin of 12.86%. During the same period in the prior year, the firm earned $0.71 EPS. On average, research analysts anticipate that Ares Management Co. will post 4.47 earnings per share for the current year.

Ares Management Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be paid a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a dividend yield of 2.61%. The ex-dividend date of this dividend is Thursday, June 13th. Ares Management’s dividend payout ratio is currently 166.82%.

Insider Transactions at Ares Management

In related news, Chairman Antony P. Ressler sold 175,152 shares of the business’s stock in a transaction on Friday, April 5th. The shares were sold at an average price of $133.56, for a total value of $23,393,301.12. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Chairman Antony P. Ressler sold 175,152 shares of Ares Management stock in a transaction dated Friday, April 5th. The stock was sold at an average price of $133.56, for a total value of $23,393,301.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael J. Arougheti sold 4,488 shares of the company’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $134.01, for a total value of $601,436.88. Following the sale, the chief executive officer now owns 1,375,000 shares in the company, valued at approximately $184,263,750. The disclosure for this sale can be found here. Insiders sold a total of 1,494,440 shares of company stock worth $199,049,946 over the last three months. 41.89% of the stock is owned by company insiders.

Ares Management Company 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.