PNC Financial Services Group Inc. Raises Holdings in Ares Management Co. (NYSE:ARES)

PNC Financial Services Group Inc. boosted its position in shares of Ares Management Co. (NYSE:ARES) by 4.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 38,769 shares of the asset manager’s stock after buying an additional 1,772 shares during the period. PNC Financial Services Group Inc.’s holdings in Ares Management were worth $4,610,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. BI Asset Management Fondsmaeglerselskab A S increased its holdings in shares of Ares Management by 25.0% in the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 24,313 shares of the asset manager’s stock worth $2,891,000 after buying an additional 4,867 shares during the last quarter. Norges Bank purchased a new position in Ares Management in the fourth quarter worth about $205,499,000. Brown Advisory Inc. increased its stake in Ares Management by 179.8% during the fourth quarter. Brown Advisory Inc. now owns 93,766 shares of the asset manager’s stock worth $11,151,000 after acquiring an additional 60,255 shares during the last quarter. Meridian Wealth Management LLC purchased a new stake in Ares Management during the fourth quarter valued at approximately $3,648,000. Finally, Fiera Capital Corp lifted its stake in shares of Ares Management by 1.0% in the 4th quarter. Fiera Capital Corp now owns 492,867 shares of the asset manager’s stock valued at $58,612,000 after purchasing an additional 4,891 shares during the last quarter. Hedge funds and other institutional investors own 50.03% of the company’s stock.

Insider Transactions at Ares Management

In other Ares Management news, CEO Michael J. Arougheti sold 157,837 shares of the firm’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $148.22, for a total value of $23,394,600.14. Following the transaction, the chief executive officer now owns 92,163 shares in the company, valued at approximately $13,660,399.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Ares Management news, CEO Michael J. Arougheti sold 157,837 shares of the business’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $148.22, for a total transaction of $23,394,600.14. Following the transaction, the chief executive officer now owns 92,163 shares of the company’s stock, valued at $13,660,399.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Antony P. Ressler sold 143,569 shares of the firm’s stock in a transaction dated Wednesday, April 17th. The stock was sold at an average price of $131.51, for a total transaction of $18,880,759.19. The disclosure for this sale can be found here. Insiders sold 1,488,844 shares of company stock valued at $200,239,222 over the last 90 days. Corporate insiders own 1.20% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on ARES shares. Barclays reduced their target price on shares of Ares Management from $153.00 to $150.00 and set an “overweight” rating on the stock in a research note on Friday, May 3rd. Royal Bank of Canada reiterated an “outperform” rating and set a $150.00 price objective on shares of Ares Management in a research note on Wednesday. Wells Fargo & Company boosted their target price on shares of Ares Management from $112.00 to $126.00 and gave the stock an “equal weight” rating in a report on Friday, February 9th. TD Cowen raised their price objective on Ares Management from $154.00 to $171.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, UBS Group raised their price target 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 research analyst has rated the stock with a sell rating, seven have given a hold rating and six have issued 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 $130.15.

Ares Management Stock Up 0.9 %

ARES stock opened at $146.01 on Friday. Ares Management Co. has a one year low of $82.89 and a one year high of $150.12. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.03 and a current ratio of 1.03. The firm’s fifty day moving average is $136.01 and its 200 day moving average is $125.70. The firm has a market cap of $45.24 billion, a PE ratio of 65.48, a P/E/G ratio of 1.18 and a beta of 1.17.

Ares Management (NYSE:ARES) last announced its quarterly earnings results 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 analysts’ expectations of $814.88 million. Ares Management had a net margin of 12.86% and a return on equity of 21.22%. During the same quarter in the prior year, the firm earned $0.71 EPS. On average, research analysts forecast that Ares Management Co. will post 4.25 EPS for the current year.

Ares Management Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be issued a $0.93 dividend. This represents a $3.72 annualized dividend and a yield of 2.55%. The ex-dividend date of this dividend is Friday, June 14th. Ares Management’s payout ratio is presently 166.82%.

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.