Ares Management Co. (NYSE:ARES) Stake Boosted by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC boosted its holdings in Ares Management Co. (NYSE:ARESGet Rating) by 27.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,933 shares of the asset manager’s stock after purchasing an additional 4,910 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Ares Management were worth $1,420,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of Ares Management by 3.4% during the 1st quarter. Vanguard Group Inc. now owns 14,038,275 shares of the asset manager’s stock valued at $1,140,328,000 after buying an additional 458,646 shares during the last quarter. BlackRock Inc. increased its stake in shares of Ares Management by 0.7% during the first quarter. BlackRock Inc. now owns 6,191,021 shares of the asset manager’s stock valued at $502,895,000 after acquiring an additional 45,745 shares during the period. Franklin Resources Inc. lifted its holdings in shares of Ares Management by 4.3% in the second quarter. Franklin Resources Inc. now owns 2,830,538 shares of the asset manager’s stock valued at $160,944,000 after buying an additional 117,080 shares during the period. State Street Corp raised its position in Ares Management by 1.8% in the second quarter. State Street Corp now owns 2,312,795 shares of the asset manager’s stock worth $131,506,000 after acquiring an additional 41,266 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in shares of Ares Management by 2.4% during the 2nd quarter. JPMorgan Chase & Co. now owns 2,150,095 shares of the asset manager’s stock worth $122,254,000 after acquiring an additional 50,626 shares in the last quarter. Institutional investors own 47.96% of the company’s stock.

Ares Management Trading Up 3.6 %

Shares of NYSE:ARES opened at $78.63 on Friday. Ares Management Co. has a 52-week low of $53.15 and a 52-week high of $86.06. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.13 and a current ratio of 0.13. The company has a market cap of $23.13 billion, a P/E ratio of 88.35, a P/E/G ratio of 0.69 and a beta of 1.29. The stock’s 50-day moving average is $73.23 and its 200-day moving average is $71.42.

Ares Management (NYSE:ARESGet Rating) last issued its quarterly earnings results on Thursday, October 27th. The asset manager reported $0.75 EPS for the quarter, topping the consensus estimate of $0.74 by $0.01. Ares Management had a return on equity of 14.90% and a net margin of 5.08%. The company had revenue of $609.56 million for the quarter, compared to the consensus estimate of $636.07 million. During the same period in the previous year, the business posted $0.62 EPS. Equities research analysts predict that Ares Management Co. will post 3.23 earnings per share for the current year.

Ares Management Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 30th. Shareholders of record on Friday, December 16th were issued a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a yield of 3.10%. The ex-dividend date of this dividend was Thursday, December 15th. Ares Management’s dividend payout ratio (DPR) is presently 274.16%.

Insiders Place Their Bets

In related news, CEO Michael J. Arougheti sold 2,983 shares of the stock in a transaction dated Thursday, November 10th. The shares were sold at an average price of $85.02, for a total value of $253,614.66. Following the completion of the sale, the chief executive officer now owns 470,138 shares in the company, valued at $39,971,132.76. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, insider Bennett Rosenthal sold 122,971 shares of the firm’s stock in a transaction on Tuesday, October 25th. The stock was sold at an average price of $70.87, for a total value of $8,714,954.77. Following the completion of the transaction, the insider now directly owns 377,029 shares of the company’s stock, valued at $26,720,045.23. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Michael J. Arougheti sold 2,983 shares of Ares Management stock in a transaction on Thursday, November 10th. The stock was sold at an average price of $85.02, for a total transaction of $253,614.66. Following the sale, the chief executive officer now owns 470,138 shares in the company, valued at approximately $39,971,132.76. The disclosure for this sale can be found here. In the last ninety days, insiders have purchased 1,030,000 shares of company stock worth $1,401,700 and have sold 1,238,661 shares worth $97,818,389. Company insiders own 47.38% of the company’s stock.

Wall Street Analysts Forecast Growth

ARES has been the topic of several research analyst reports. BMO Capital Markets cut Ares Management from an “outperform” rating to a “market perform” rating and set a $93.00 target price on the stock. in a research note on Monday, November 14th. Wells Fargo & Company upped their target price on Ares Management from $78.00 to $81.00 and gave the stock an “overweight” rating in a research report on Friday, October 28th. UBS Group raised their price objective on shares of Ares Management from $78.00 to $95.00 and gave the company a “buy” rating in a research report on Tuesday, November 15th. Royal Bank of Canada boosted their target price on shares of Ares Management from $83.00 to $93.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 1st. Finally, Morgan Stanley raised their price target on shares of Ares Management from $76.00 to $82.00 and gave the company an “equal weight” rating in a report on Monday, October 31st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat, Ares Management currently has an average rating of “Moderate Buy” and a consensus target price of $86.88.

About Ares Management

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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.

See Also

Institutional Ownership by Quarter for Ares Management (NYSE:ARES)

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