Ares Management Co. (NYSE:ARES) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lowered its holdings in shares of Ares Management Co. (NYSE:ARESFree Report) by 6.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,354 shares of the asset manager’s stock after selling 344 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Ares Management were worth $712,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of ARES. Dai ichi Life Insurance Company Ltd raised its position in Ares Management by 49.2% during the 4th quarter. Dai ichi Life Insurance Company Ltd now owns 19,949 shares of the asset manager’s stock worth $2,372,000 after buying an additional 6,576 shares during the last quarter. Grayhawk Investment Strategies Inc. purchased a new position in shares of Ares Management in the 4th quarter valued at about $1,100,000. Westpac Banking Corp purchased a new position in shares of Ares Management in the 4th quarter valued at about $2,421,000. Artemis Investment Management LLP increased its holdings in shares of Ares Management by 24.5% in the 4th quarter. Artemis Investment Management LLP now owns 149,920 shares of the asset manager’s stock valued at $17,829,000 after purchasing an additional 29,457 shares in the last quarter. Finally, Triasima Portfolio Management inc. increased its holdings in shares of Ares Management by 31.4% in the 4th quarter. Triasima Portfolio Management inc. now owns 66,950 shares of the asset manager’s stock valued at $7,962,000 after purchasing an additional 16,010 shares in the last quarter. Institutional investors and hedge funds own 50.03% of the company’s stock.

Wall Street Analyst Weigh In

ARES has been the subject of a number of research analyst reports. Barclays cut their price target on shares of Ares Management from $153.00 to $150.00 and set an “overweight” rating for the company in a report on Friday, May 3rd. Deutsche Bank Aktiengesellschaft downgraded shares of Ares Management from a “buy” rating to a “hold” rating and cut their price target for the company from $176.00 to $132.00 in a report on Thursday, June 13th. Royal Bank of Canada reissued an “outperform” rating and issued a $150.00 price objective on shares of Ares Management in a research note on Wednesday, May 22nd. Jefferies Financial Group lowered their price objective on shares of Ares Management from $131.00 to $127.00 and set a “hold” rating on the stock in a research note on Thursday, May 9th. Finally, UBS Group increased their price objective on shares of Ares Management from $156.00 to $160.00 and gave the company a “buy” rating in a research note on Friday, April 12th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Ares Management presently has an average rating of “Hold” and a consensus target price of $129.36.

View Our Latest Stock Analysis on ARES

Insider Activity at Ares Management

In related news, insider David B. Kaplan sold 125,000 shares of the firm’s stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $131.94, for a total value of $16,492,500.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, insider David B. Kaplan sold 125,000 shares of Ares Management stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $131.94, for a total transaction of $16,492,500.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Chairman Bennett Rosenthal sold 50,000 shares of Ares Management stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $129.72, for a total transaction of $6,486,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,109,230 shares of company stock worth $150,963,140. Company insiders own 41.89% of the company’s stock.

Ares Management Price Performance

ARES opened at $135.80 on Tuesday. Ares Management Co. has a 1 year low of $93.65 and a 1 year high of $150.12. The company’s 50 day simple moving average is $138.35 and its 200 day simple moving average is $131.76. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.03 and a current ratio of 1.03. The stock has a market capitalization of $42.07 billion, a PE ratio of 60.90, a P/E/G ratio of 1.21 and a beta of 1.22.

Ares Management (NYSE:ARESGet Free Report) last posted its quarterly earnings results on Thursday, May 2nd. The asset manager reported $0.80 EPS for the quarter, missing the consensus estimate of $0.93 by ($0.13). Ares Management had a net margin of 12.86% and a return on equity of 21.22%. The business had revenue of $707.36 million during the quarter, compared to analysts’ expectations of $814.88 million. During the same quarter in the previous year, the business posted $0.71 EPS. As a group, sell-side analysts expect that Ares Management Co. will post 4.27 EPS for the current year.

Ares Management Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were issued a $0.93 dividend. The ex-dividend date of this dividend was Friday, June 14th. This represents a $3.72 annualized dividend and a yield of 2.74%. Ares Management’s payout ratio is 166.82%.

About Ares Management

(Free Report)

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

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