Harbor Capital Advisors Inc. raised its holdings in shares of Ares Management Co. (NYSE:ARES – Free Report) by 2.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,746 shares of the asset manager’s stock after buying an additional 70 shares during the quarter. Harbor Capital Advisors Inc.’s holdings in Ares Management were worth $486,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also added to or reduced their stakes in the company. Versant Capital Management Inc grew its holdings in shares of Ares Management by 67.0% during the fourth quarter. Versant Capital Management Inc now owns 162 shares of the asset manager’s stock worth $29,000 after purchasing an additional 65 shares in the last quarter. GAMMA Investing LLC lifted its position in Ares Management by 53.4% during the fourth quarter. GAMMA Investing LLC now owns 227 shares of the asset manager’s stock valued at $40,000 after purchasing an additional 79 shares during the last quarter. Point72 DIFC Ltd purchased a new position in Ares Management in the 3rd quarter worth approximately $36,000. Eastern Bank bought a new position in shares of Ares Management in the 3rd quarter worth $39,000. Finally, Whittier Trust Co. of Nevada Inc. raised its position in shares of Ares Management by 21.0% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 559 shares of the asset manager’s stock valued at $87,000 after buying an additional 97 shares in the last quarter. 50.03% of the stock is currently owned by institutional investors.
Ares Management Price Performance
Shares of Ares Management stock opened at $179.27 on Wednesday. The firm has a market cap of $56.12 billion, a PE ratio of 82.61, a price-to-earnings-growth ratio of 1.99 and a beta of 1.18. The company’s fifty day simple moving average is $176.13 and its two-hundred day simple moving average is $159.42. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.53. Ares Management Co. has a 12-month low of $112.83 and a 12-month high of $185.06.
Ares Management Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th were issued a dividend of $0.93 per share. The ex-dividend date was Tuesday, December 17th. This represents a $3.72 dividend on an annualized basis and a dividend yield of 2.08%. Ares Management’s dividend payout ratio is presently 171.43%.
Wall Street Analyst Weigh In
Several brokerages recently issued reports on ARES. The Goldman Sachs Group upped their target price on shares of Ares Management from $145.00 to $160.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Wells Fargo & Company cut their price objective on Ares Management from $212.00 to $207.00 and set an “overweight” rating for the company in a report on Tuesday. JPMorgan Chase & Co. decreased their price objective on Ares Management from $176.00 to $174.00 and set an “overweight” rating on the stock in a report on Tuesday, November 5th. Barclays increased their price target on shares of Ares Management from $155.00 to $174.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. Finally, TD Cowen boosted their price objective on shares of Ares Management from $184.00 to $187.00 and gave the stock a “buy” rating in a report on Monday, November 4th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, Ares Management currently has a consensus rating of “Moderate Buy” and a consensus target price of $171.92.
View Our Latest Analysis on Ares Management
Insider Buying and Selling
In other news, insider Ryan Berry sold 14,357 shares of the stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $180.16, for a total value of $2,586,557.12. Following the completion of the transaction, the insider now owns 233,214 shares of the company’s stock, valued at approximately $42,015,834.24. This represents a 5.80 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Bennett Rosenthal sold 20,048 shares of Ares Management stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $167.44, for a total value of $3,356,837.12. Following the sale, the chairman now owns 229,952 shares in the company, valued at $38,503,162.88. This represents a 8.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 614,167 shares of company stock valued at $106,716,247 over the last quarter. 1.20% of the stock is owned by company insiders.
Ares Management Company 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.
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