Assenagon Asset Management S.A. bought a new stake in shares of Ares Management Co. (NYSE:ARES – Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 35,556 shares of the asset manager’s stock, valued at approximately $2,967,000.
Several other hedge funds also recently added to or reduced their stakes in ARES. Geneos Wealth Management Inc. boosted its stake in shares of Ares Management by 300.0% in the first quarter. Geneos Wealth Management Inc. now owns 400 shares of the asset manager’s stock worth $32,000 after buying an additional 300 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Ares Management by 951.0% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 515 shares of the asset manager’s stock worth $35,000 after buying an additional 466 shares during the last quarter. Zions Bancorporation N.A. purchased a new stake in shares of Ares Management in the fourth quarter worth about $46,000. Point72 Middle East FZE purchased a new stake in shares of Ares Management in the fourth quarter worth about $46,000. Finally, Achmea Investment Management B.V. purchased a new stake in shares of Ares Management in the fourth quarter worth about $54,000. 48.66% of the stock is owned by institutional investors and hedge funds.
Insiders Place Their Bets
In other news, major shareholder Ares Management Llc sold 6,885,415 shares of the firm’s stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $16.79, for a total transaction of $115,606,117.85. Following the completion of the transaction, the insider now directly owns 134,659,188 shares in the company, valued at $2,260,927,766.52. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, major shareholder Ares Management Llc sold 6,885,415 shares of the business’s stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $16.79, for a total transaction of $115,606,117.85. Following the completion of the transaction, the insider now directly owns 134,659,188 shares of the company’s stock, valued at approximately $2,260,927,766.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Antoinette Cook Bush bought 1,234 shares of the stock in a transaction that occurred on Friday, May 12th. The shares were bought at an average cost of $81.69 per share, with a total value of $100,805.46. Following the completion of the purchase, the director now directly owns 18,369 shares in the company, valued at $1,500,563.61. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 851,234 shares of company stock valued at $18,320,805 and sold 19,421,576 shares valued at $469,241,265. 47.34% of the stock is owned by insiders.
Analyst Ratings Changes
Ares Management Price Performance
NYSE:ARES opened at $95.69 on Thursday. Ares Management Co. has a one year low of $57.15 and a one year high of $97.34. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.00 and a current ratio of 1.00. The stock has a market cap of $28.94 billion, a PE ratio of 86.99, a P/E/G ratio of 1.01 and a beta of 1.32. The stock has a 50 day moving average price of $88.30 and a 200 day moving average price of $82.11.
Ares Management (NYSE:ARES – Free Report) last posted 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). Ares Management had a net margin of 6.84% and a return on equity of 16.79%. The company had revenue of $813.36 million during the quarter, compared to analyst estimates of $694.04 million. During the same period in the prior year, the business posted $0.65 EPS. Equities research analysts expect that Ares Management Co. will post 3.6 EPS for the current fiscal year.
Ares Management Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, June 30th. Shareholders of record on Friday, June 16th were paid a dividend of $0.77 per share. The ex-dividend date of this dividend was Thursday, June 15th. This represents a $3.08 annualized dividend and a yield of 3.22%. Ares Management’s dividend payout ratio (DPR) is 280.00%.
About Ares Management
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.
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