Stonegate Investment Group LLC Makes New Investment in Ares Management Co. (NYSE:ARES)

Stonegate Investment Group LLC bought a new position in shares of Ares Management Co. (NYSE:ARESFree Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 1,965 shares of the asset manager’s stock, valued at approximately $234,000.

Several other institutional investors have also recently bought and sold shares of ARES. Legacy Financial Group LLC acquired a new position in Ares Management during the third quarter worth about $27,000. Hollencrest Capital Management acquired a new position in shares of Ares Management in the third quarter valued at approximately $27,000. Rise Advisors LLC increased its stake in shares of Ares Management by 73.9% in the fourth quarter. Rise Advisors LLC now owns 240 shares of the asset manager’s stock valued at $29,000 after buying an additional 102 shares during the period. Harbour Investments Inc. increased its stake in shares of Ares Management by 210.5% in the first quarter. Harbour Investments Inc. now owns 354 shares of the asset manager’s stock valued at $30,000 after buying an additional 240 shares during the period. Finally, Geneos Wealth Management Inc. increased its stake in shares of Ares Management by 300.0% in the first quarter. Geneos Wealth Management Inc. now owns 400 shares of the asset manager’s stock valued at $32,000 after buying an additional 300 shares during the period. Institutional investors and hedge funds own 50.03% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on ARES. Barclays upped their price objective on Ares Management from $146.00 to $157.00 and gave the company an “overweight” rating in a research note on Monday, February 12th. JPMorgan Chase & Co. upped their price objective on Ares Management from $119.00 to $141.00 and gave the company an “overweight” rating in a research note on Friday, February 9th. Wells Fargo & Company upped their target price on Ares Management from $112.00 to $126.00 and gave the company an “equal weight” rating in a report on Friday, February 9th. Royal Bank of Canada upped their target price on Ares Management from $135.00 to $145.00 and gave the company an “outperform” rating in a report on Monday, February 12th. Finally, Jefferies Financial Group cut Ares Management from a “buy” rating to a “hold” rating and set a $122.00 target price on the stock. in a report on Tuesday, January 9th. One research analyst has rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $123.45.

Check Out Our Latest Report on ARES

Insider Buying and Selling

In related news, insider David B. Kaplan sold 22,115 shares of the stock in a transaction on Monday, March 18th. The stock was sold at an average price of $130.84, for a total value of $2,893,526.60. Following the transaction, the insider now directly owns 188,797 shares in the company, valued at approximately $24,702,199.48. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, insider R. Kipp Deveer sold 80,637 shares of the stock in a transaction on Friday, February 16th. The stock was sold at an average price of $135.25, for a total value of $10,906,154.25. Following the transaction, the insider now directly owns 1,116,676 shares in the company, valued at approximately $151,030,429. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider David B. Kaplan sold 22,115 shares of the stock in a transaction on Monday, March 18th. The shares were sold at an average price of $130.84, for a total value of $2,893,526.60. Following the completion of the sale, the insider now directly owns 188,797 shares of the company’s stock, valued at $24,702,199.48. The disclosure for this sale can be found here. Insiders have sold a total of 610,848 shares of company stock worth $81,489,877 in the last ninety days. Corporate insiders own 47.34% of the company’s stock.

Ares Management Price Performance

Ares Management stock opened at $131.97 on Thursday. The stock has a market capitalization of $40.86 billion, a price-to-earnings ratio of 55.22, a PEG ratio of 0.97 and a beta of 1.17. Ares Management Co. has a 52-week low of $77.97 and a 52-week high of $139.48. The stock’s 50 day moving average price is $131.68 and its two-hundred day moving average price is $117.50. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.02 and a current ratio of 1.02.

Ares Management (NYSE:ARESGet Free Report) last posted its quarterly earnings results on Thursday, February 8th. The asset manager reported $1.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.10 by $0.11. Ares Management had a return on equity of 21.01% and a net margin of 13.06%. The firm had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $862.71 million. During the same period in the prior year, the business earned $1.21 EPS. On average, equities analysts predict that Ares Management Co. will post 4.6 earnings per share for the current year.

Ares Management Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were issued a $0.93 dividend. This is a boost from Ares Management’s previous quarterly dividend of $0.77. This represents a $3.72 dividend on an annualized basis and a dividend yield of 2.82%. The ex-dividend date was Thursday, March 14th. Ares Management’s dividend payout ratio (DPR) is currently 155.65%.

Ares Management Company 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.

See Also

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

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