DekaBank Deutsche Girozentrale grew its holdings in shares of Ares Management Co. (NYSE:ARES – Get Rating) by 1,148.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,878 shares of the asset manager’s stock after purchasing an additional 15,526 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Ares Management were worth $1,157,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Kestra Advisory Services LLC increased its stake in Ares Management by 69.8% during the fourth quarter. Kestra Advisory Services LLC now owns 22,570 shares of the asset manager’s stock worth $1,545,000 after purchasing an additional 9,276 shares during the period. Wedbush Securities Inc. acquired a new position in shares of Ares Management during the fourth quarter worth about $352,000. Vaughan Nelson Investment Management L.P. grew its position in shares of Ares Management by 57.8% during the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 186,092 shares of the asset manager’s stock worth $12,736,000 after buying an additional 68,146 shares in the last quarter. Parnassus Investments LLC acquired a new position in shares of Ares Management during the fourth quarter worth about $240,000. Finally, Sumitomo Mitsui Trust Holdings Inc. acquired a new position in shares of Ares Management during the fourth quarter worth about $26,201,000. 47.96% of the stock is currently owned by hedge funds and other institutional investors.
Insider Activity
In other news, Director Corporate Opportunities F. Ares sold 4,770,000 shares of the stock in a transaction that occurred on Wednesday, February 15th. The stock was sold at an average price of $26.06, for a total value of $124,306,200.00. Following the completion of the sale, the director now directly owns 14,326,090 shares of the company’s stock, valued at $373,337,905.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Chairman Antony P. Ressler sold 25,269 shares of the company’s stock in a transaction that occurred on Wednesday, February 1st. The stock was sold at an average price of $85.19, for a total transaction of $2,152,666.11. Following the completion of the sale, the chairman now owns 712,670 shares in the company, valued at $60,712,357.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Corporate Opportunities F. Ares sold 4,770,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 15th. The stock was sold at an average price of $26.06, for a total value of $124,306,200.00. Following the sale, the director now owns 14,326,090 shares of the company’s stock, valued at approximately $373,337,905.40. The disclosure for this sale can be found here. Over the last ninety days, insiders bought 4,139,116 shares of company stock valued at $37,723,951 and sold 5,121,973 shares valued at $154,478,492. Corporate insiders own 47.38% of the company’s stock.
Ares Management Stock Performance
Ares Management (NYSE:ARES – Get Rating) last posted its quarterly earnings data on Thursday, February 9th. The asset manager reported $1.21 earnings per share for the quarter, beating the consensus estimate of $1.07 by $0.14. The business had revenue of $937.72 million during the quarter, compared to the consensus estimate of $813.69 million. Ares Management had a return on equity of 16.82% and a net margin of 5.48%. During the same period in the prior year, the company earned $0.85 earnings per share. Research analysts predict that Ares Management Co. will post 3.93 EPS for the current fiscal year.
Ares Management Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 31st. Stockholders of record on Friday, March 17th were issued a $0.77 dividend. This is an increase from Ares Management’s previous quarterly dividend of $0.61. This represents a $3.08 annualized dividend and a dividend yield of 3.56%. The ex-dividend date was Thursday, March 16th. Ares Management’s dividend payout ratio is presently 362.35%.
Analyst Ratings Changes
A number of brokerages have recently commented on ARES. TheStreet raised Ares Management from a “c+” rating to a “b-” rating in a research report on Thursday, April 13th. StockNews.com began coverage on Ares Management in a research report on Thursday, March 16th. They set a “sell” rating for the company. Bank of America lowered their price objective on Ares Management from $104.00 to $103.00 and set a “buy” rating for the company in a research report on Wednesday, April 5th. Morgan Stanley boosted their price objective on Ares Management from $82.00 to $88.00 and gave the stock an “equal weight” rating in a research report on Monday, February 13th. Finally, The Goldman Sachs Group upped their price target on Ares Management from $89.00 to $98.00 and gave the company a “buy” rating in a report on Friday, February 10th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $95.78.
About Ares Management
Ares Management Corp. is engaged in providing investment management and consultancy services. It operates through the following segments: Credit Group, Private Equity Group and Real Estate Group. The Credit Group segment offers credit strategies across the liquid and illiquid spectrum, including syndicated bank loans, high yield bonds, credit opportunities, special situations, asset-backed investments and U.S.
Read More
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