Mitsubishi UFJ Kokusai Asset Management Co. Ltd. purchased a new stake in Ares Management Co. (NYSE:ARES – Get Rating) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 48,158 shares of the asset manager’s stock, valued at approximately $3,292,000.
Other institutional investors have also recently added to or reduced their stakes in the company. Parnassus Investments LLC acquired a new stake in Ares Management in the fourth quarter valued at $240,000. DekaBank Deutsche Girozentrale acquired a new stake in Ares Management in the third quarter valued at $85,000. UBS Group AG raised its holdings in Ares Management by 13.6% in the third quarter. UBS Group AG now owns 385,521 shares of the asset manager’s stock valued at $23,883,000 after acquiring an additional 46,129 shares in the last quarter. Apollon Wealth Management LLC acquired a new stake in Ares Management in the third quarter valued at $552,000. Finally, Fulton Bank N.A. raised its holdings in shares of Ares Management by 14.7% during the fourth quarter. Fulton Bank N.A. now owns 5,166 shares of the asset manager’s stock worth $354,000 after purchasing an additional 664 shares during the period. 47.96% of the stock is owned by institutional investors and hedge funds.
Insider Activity at Ares Management
In related news, major shareholder Ares Management Llc bought 200,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 20th. The stock was purchased at an average price of $20.85 per share, for a total transaction of $4,170,000.00. Following the transaction, the insider now directly owns 37,494,654 shares of the company’s stock, valued at approximately $781,763,535.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Ares Management news, Director Corporate Opportunities F. Ares sold 4,770,000 shares of the company’s stock in a transaction dated Wednesday, February 15th. The shares were 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 approximately $373,337,905.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Ares Management Llc purchased 200,000 shares of the business’s stock in a transaction on Thursday, April 20th. The stock was acquired at an average cost of $20.85 per share, with a total value of $4,170,000.00. Following the completion of the acquisition, the insider now directly owns 37,494,654 shares in the company, valued at approximately $781,763,535.90. The disclosure for this purchase can be found here. In the last 90 days, insiders purchased 1,958,214 shares of company stock worth $42,872,828 and sold 5,002,493 shares worth $144,305,643. 47.38% of the stock is currently owned by insiders.
Ares Management Stock Down 3.1 %
Ares Management (NYSE:ARES – Get Rating) last released its quarterly earnings results on Friday, April 28th. The asset manager reported $0.71 EPS for the quarter, missing the consensus estimate of $0.82 by ($0.11). The firm had revenue of $813.36 million for the quarter, compared to the consensus estimate of $694.04 million. Ares Management had a return on equity of 16.82% and a net margin of 5.48%. During the same quarter in the prior year, the company posted $0.65 EPS. As a group, equities analysts expect that Ares Management Co. will post 3.88 earnings per share for the current year.
Ares Management Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Investors of record on Friday, June 16th will be given a $0.77 dividend. The ex-dividend date is Thursday, June 15th. This represents a $3.08 dividend on an annualized basis and a yield of 3.87%. Ares Management’s dividend payout ratio is presently 280.00%.
Analysts Set New Price Targets
A number of analysts have weighed in on the stock. The Goldman Sachs Group increased their target price on shares of Ares Management from $89.00 to $98.00 and gave the stock a “buy” rating in a report on Friday, February 10th. StockNews.com assumed coverage on shares of Ares Management in a report on Thursday, March 16th. They set a “sell” rating on the stock. BMO Capital Markets increased their target price on shares of Ares Management from $89.00 to $91.00 and gave the stock a “market perform” rating in a report on Friday, February 10th. Wells Fargo & Company increased their target price on shares of Ares Management from $81.00 to $92.00 and gave the stock an “overweight” rating in a report on Friday, February 10th. Finally, Morgan Stanley increased their target price on shares of Ares Management from $82.00 to $88.00 and gave the stock an “equal weight” rating in a report on Monday, February 13th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $97.44.
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.
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