Ares Management Co. (NYSE:ARES) Shares Bought by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. raised its stake in Ares Management Co. (NYSE:ARESFree Report) by 41.7% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 45,821 shares of the asset manager’s stock after acquiring an additional 13,482 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Ares Management were worth $6,033,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Norges Bank acquired a new stake in Ares Management in the fourth quarter worth approximately $205,499,000. Corient Private Wealth LLC boosted its holdings in Ares Management by 216.3% in the fourth quarter. Corient Private Wealth LLC now owns 1,253,644 shares of the asset manager’s stock worth $149,083,000 after purchasing an additional 857,245 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Ares Management by 4.0% in the fourth quarter. Vanguard Group Inc. now owns 16,392,349 shares of the asset manager’s stock worth $1,949,378,000 after purchasing an additional 631,334 shares in the last quarter. Keystone Investors PTE Ltd. boosted its holdings in Ares Management by 85.2% in the fourth quarter. Keystone Investors PTE Ltd. now owns 934,360 shares of the asset manager’s stock worth $111,114,000 after purchasing an additional 429,953 shares in the last quarter. Finally, Cat Rock Capital Management LP bought a new stake in Ares Management in the fourth quarter worth $37,935,000. 50.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. UBS Group upped their price target on shares of Ares Management from $156.00 to $160.00 and gave the company a “buy” rating in a report on Friday, April 12th. TD Cowen decreased their price target on shares of Ares Management from $168.00 to $158.00 and set a “buy” rating for the company in a report on Monday. Barclays cut their price objective on shares of Ares Management from $153.00 to $150.00 and set an “overweight” rating for the company in a research report on Friday, May 3rd. JMP Securities reaffirmed a “market perform” rating on shares of Ares Management in a research report on Tuesday, April 9th. Finally, Jefferies Financial Group cut their price objective on shares of Ares Management from $131.00 to $127.00 and set a “hold” rating for the company in a research report on Thursday, May 9th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $129.36.

Check Out Our Latest Research Report on Ares Management

Insider Activity at Ares Management

In other Ares Management news, Chairman Antony P. Ressler sold 114,492 shares of the stock in a transaction that occurred on Friday, April 12th. The shares were sold at an average price of $131.97, for a total transaction of $15,109,509.24. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Chairman Antony P. Ressler sold 114,492 shares of the company’s stock in a transaction that occurred on Friday, April 12th. The shares were sold at an average price of $131.97, for a total transaction of $15,109,509.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael J. Arougheti sold 157,837 shares of the stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $148.22, for a total transaction of $23,394,600.14. Following the completion of the transaction, the chief executive officer now directly owns 92,163 shares of the company’s stock, valued at approximately $13,660,399.86. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 969,315 shares of company stock worth $132,164,160. Insiders own 41.89% of the company’s stock.

Ares Management Price Performance

Shares of ARES stock opened at $134.83 on Wednesday. Ares Management Co. has a 52-week low of $93.65 and a 52-week high of $150.12. The stock has a market cap of $41.77 billion, a PE ratio of 60.46, a PEG ratio of 1.21 and a beta of 1.22. 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 firm’s 50 day moving average price is $138.38 and its two-hundred day moving average price is $131.90.

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

Ares Management Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were paid a $0.93 dividend. The ex-dividend date was Friday, June 14th. This represents a $3.72 dividend on an annualized basis and a yield of 2.76%. Ares Management’s dividend payout ratio (DPR) is currently 166.82%.

Ares Management Profile

(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.

Further Reading

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

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