Allworth Financial LP Has $179,000 Position in Ares Management Co. (NYSE:ARES)

Allworth Financial LP grew its stake in shares of Ares Management Co. (NYSE:ARES) by 24.7% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 925 shares of the asset manager’s stock after buying an additional 183 shares during the period. Allworth Financial LP’s holdings in Ares Management were worth $179,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. JPMorgan Chase & Co. raised its position in shares of Ares Management by 9.0% during the third quarter. JPMorgan Chase & Co. now owns 8,244,179 shares of the asset manager’s stock valued at $1,284,773,000 after buying an additional 679,462 shares during the last quarter. FMR LLC raised its position in shares of Ares Management by 1.0% during the third quarter. FMR LLC now owns 6,301,709 shares of the asset manager’s stock valued at $982,058,000 after buying an additional 63,851 shares during the last quarter. State Street Corp raised its position in shares of Ares Management by 5.1% during the third quarter. State Street Corp now owns 3,826,479 shares of the asset manager’s stock valued at $596,318,000 after buying an additional 187,184 shares during the last quarter. Franklin Resources Inc. raised its position in shares of Ares Management by 0.5% during the third quarter. Franklin Resources Inc. now owns 3,678,177 shares of the asset manager’s stock valued at $600,830,000 after buying an additional 18,773 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Ares Management by 6.3% during the third quarter. Geode Capital Management LLC now owns 2,950,451 shares of the asset manager’s stock valued at $459,580,000 after buying an additional 175,627 shares during the last quarter. Institutional investors and hedge funds own 50.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on ARES. Deutsche Bank Aktiengesellschaft increased their price target on shares of Ares Management from $146.00 to $150.00 and gave the stock a “hold” rating in a research report on Monday, November 11th. TD Cowen increased their price target on shares of Ares Management from $184.00 to $187.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. JPMorgan Chase & Co. dropped their price target on shares of Ares Management from $176.00 to $174.00 and set an “overweight” rating for the company in a research report on Tuesday, November 5th. StockNews.com lowered shares of Ares Management from a “hold” rating to a “sell” rating in a research report on Wednesday, January 8th. Finally, Keefe, Bruyette & Woods raised shares of Ares Management from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $166.00 to $202.00 in a research report on Friday, December 20th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $176.17.

Insider Activity

In other Ares Management news, insider David B. Kaplan sold 28,887 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $175.82, for a total value of $5,078,912.34. Following the transaction, the insider now directly owns 87,461 shares of the company’s stock, valued at approximately $15,377,393.02. This trade represents a 24.83 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Ryan Berry sold 5,443 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $180.14, for a total transaction of $980,502.02. Following the completion of the transaction, the insider now directly owns 247,771 shares in the company, valued at approximately $44,633,467.94. The trade was a 2.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 392,200 shares of company stock valued at $70,426,505 over the last three months. 1.20% of the stock is owned by insiders.

Ares Management Stock Performance

NYSE ARES opened at $174.00 on Friday. The firm has a market cap of $54.47 billion, a price-to-earnings ratio of 85.71, a PEG ratio of 1.33 and a beta of 1.18. The company has a 50 day moving average of $184.95 and a 200-day moving average of $168.30. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.53. Ares Management Co. has a 1-year low of $125.23 and a 1-year high of $200.49.

Ares Management (NYSE:ARES) last released its quarterly earnings results on Wednesday, February 5th. The asset manager reported $1.23 EPS for the quarter, missing the consensus estimate of $1.35 by ($0.12). Ares Management had a net margin of 11.35% and a return on equity of 16.64%. On average, equities analysts forecast that Ares Management Co. will post 5.28 earnings per share for the current fiscal year.

Ares Management Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be paid a dividend of $1.12 per share. This is a boost from Ares Management’s previous quarterly dividend of $0.93. This represents a $4.48 annualized dividend and a dividend yield of 2.57%. The ex-dividend date of this dividend is Monday, March 17th. Ares Management’s dividend payout ratio is 183.25%.

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.