Mackenzie Financial Corp Buys 243 Shares of Ares Management Co. (NYSE:ARES)

Mackenzie Financial Corp raised its holdings in shares of Ares Management Co. (NYSE:ARES) by 3.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,030 shares of the asset manager’s stock after acquiring an additional 243 shares during the quarter. Mackenzie Financial Corp’s holdings in Ares Management were worth $836,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of ARES. SG Americas Securities LLC raised its holdings in Ares Management by 797.8% during the 3rd quarter. SG Americas Securities LLC now owns 21,995 shares of the asset manager’s stock valued at $2,263,000 after acquiring an additional 19,545 shares during the period. Capital Asset Advisory Services LLC grew its position in shares of Ares Management by 8.5% during the 3rd quarter. Capital Asset Advisory Services LLC now owns 3,890 shares of the asset manager’s stock valued at $432,000 after purchasing an additional 304 shares in the last quarter. Coastline Trust Co purchased a new position in shares of Ares Management during the 3rd quarter valued at $747,000. Oak Thistle LLC grew its position in shares of Ares Management by 17.3% during the 3rd quarter. Oak Thistle LLC now owns 5,199 shares of the asset manager’s stock valued at $535,000 after purchasing an additional 767 shares in the last quarter. Finally, Handelsbanken Fonder AB grew its position in shares of Ares Management by 33.5% during the 3rd quarter. Handelsbanken Fonder AB now owns 29,900 shares of the asset manager’s stock valued at $3,076,000 after purchasing an additional 7,500 shares in the last quarter. Institutional investors own 50.03% of the company’s stock.

Insider Activity

In other news, CEO Michael J. Arougheti sold 74,585 shares of the company’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $132.97, for a total transaction of $9,917,567.45. Following the completion of the transaction, the chief executive officer now directly owns 1,375,000 shares of the company’s stock, valued at $182,833,750. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, insider R. Kipp Deveer sold 82,796 shares of the stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $136.47, for a total value of $11,299,170.12. Following the completion of the transaction, the insider now directly owns 1,245,729 shares of the company’s stock, valued at $170,004,636.63. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Michael J. Arougheti sold 74,585 shares of the stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $132.97, for a total transaction of $9,917,567.45. Following the completion of the transaction, the chief executive officer now directly owns 1,375,000 shares of the company’s stock, valued at $182,833,750. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,494,440 shares of company stock valued at $199,049,946. Insiders own 47.34% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. UBS Group boosted their price target on shares of Ares Management from $156.00 to $160.00 and gave the company a “buy” rating in a research report on Friday, April 12th. Jefferies Financial Group lowered shares of Ares Management from a “buy” rating to a “hold” rating and set a $122.00 price target for the company. in a research report on Tuesday, January 9th. Barclays cut their target price on shares of Ares Management from $157.00 to $153.00 and set an “overweight” rating for the company in a research report on Monday, April 8th. Royal Bank of Canada upped their target price on shares of Ares Management from $135.00 to $145.00 and gave the stock an “outperform” rating in a research report on Monday, February 12th. Finally, Wells Fargo & Company upped their target price on shares of Ares Management from $112.00 to $126.00 and gave the stock an “equal weight” rating in a research report on Friday, February 9th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat, Ares Management presently has an average rating of “Hold” and a consensus price target of $126.17.

Ares Management Stock Performance

Ares Management stock opened at $133.71 on Friday. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.69. The company has a market capitalization of $41.40 billion, a PE ratio of 55.95, a P/E/G ratio of 1.03 and a beta of 1.17. The firm has a fifty day simple moving average of $133.10 and a two-hundred day simple moving average of $120.58. Ares Management Co. has a twelve month low of $77.97 and a twelve month high of $139.48.

Ares Management (NYSE:ARES) last posted its quarterly earnings results on Thursday, February 8th. The asset manager reported $1.21 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.11. The business had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $862.71 million. Ares Management had a net margin of 13.06% and a return on equity of 21.01%. During the same period in the previous year, the firm posted $1.21 earnings per share. Research analysts expect that Ares Management Co. will post 4.48 EPS for the current year.

Ares Management Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were paid a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a dividend yield of 2.78%. This is an increase from Ares Management’s previous quarterly dividend of $0.77. The ex-dividend date was Thursday, March 14th. Ares Management’s dividend payout ratio is 155.65%.

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.