Ares Management Co. (NYSE:ARES) Shares Bought by NewEdge Wealth LLC

NewEdge Wealth LLC grew its stake in Ares Management Co. (NYSE:ARES) by 14.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 8,053 shares of the asset manager’s stock after buying an additional 1,038 shares during the quarter. NewEdge Wealth LLC’s holdings in Ares Management were worth $1,426,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Private Advisor Group LLC boosted its position in Ares Management by 2.6% in the 3rd quarter. Private Advisor Group LLC now owns 4,279 shares of the asset manager’s stock worth $667,000 after purchasing an additional 108 shares in the last quarter. abrdn plc lifted its stake in shares of Ares Management by 1,085.0% in the 3rd quarter. abrdn plc now owns 46,892 shares of the asset manager’s stock valued at $7,308,000 after purchasing an additional 42,935 shares during the period. First Trust Direct Indexing L.P. grew its position in Ares Management by 62.0% during the third quarter. First Trust Direct Indexing L.P. now owns 2,683 shares of the asset manager’s stock valued at $418,000 after buying an additional 1,027 shares during the period. HM Payson & Co. grew its position in Ares Management by 117.3% during the third quarter. HM Payson & Co. now owns 1,304 shares of the asset manager’s stock valued at $203,000 after buying an additional 704 shares during the period. Finally, US Bancorp DE increased its holdings in Ares Management by 4.4% in the third quarter. US Bancorp DE now owns 16,727 shares of the asset manager’s stock valued at $2,607,000 after buying an additional 712 shares in the last quarter. Hedge funds and other institutional investors own 50.03% of the company’s stock.

Wall Street Analysts Forecast Growth

ARES has been the topic of a number of analyst reports. StockNews.com cut Ares Management from a “hold” rating to a “sell” rating in a research report on Wednesday, January 8th. Royal Bank of Canada raised their price objective on Ares Management from $170.00 to $185.00 and gave the company an “outperform” rating in a report on Monday, November 4th. Barclays reduced their target price on Ares Management from $224.00 to $217.00 and set an “overweight” rating for the company in a research note on Thursday, February 6th. JPMorgan Chase & Co. dropped their price target on shares of Ares Management from $176.00 to $174.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 5th. Finally, Keefe, Bruyette & Woods upgraded shares of Ares Management from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $166.00 to $202.00 in a research report on Friday, December 20th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $176.17.

Insiders Place Their Bets

In other news, insider Ryan Berry sold 5,443 shares of Ares Management 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 sale, the insider now owns 247,771 shares of the company’s stock, valued at approximately $44,633,467.94. The trade was a 2.15 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider R. Kipp Deveer sold 78,933 shares of the stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $190.02, for a total value of $14,998,848.66. Following the completion of the transaction, the insider now owns 1,150,000 shares of the company’s stock, valued at $218,523,000. The trade was a 6.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 214,571 shares of company stock valued at $39,165,379 in the last three months. 1.20% of the stock is currently owned by insiders.

Ares Management Stock Performance

NYSE:ARES opened at $170.93 on Friday. Ares Management Co. has a twelve month low of $125.23 and a twelve month high of $200.49. The company has a market cap of $53.51 billion, a P/E ratio of 84.20, a P/E/G ratio of 1.28 and a beta of 1.18. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.53. The company’s 50-day moving average price is $184.25 and its 200-day moving average price is $169.54.

Ares Management (NYSE:ARES) last issued its earnings results on Wednesday, February 5th. The asset manager reported $1.23 earnings per share for the quarter, missing the consensus estimate of $1.35 by ($0.12). Ares Management had a return on equity of 16.64% and a net margin of 11.35%. On average, sell-side 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 announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be issued a $1.12 dividend. This is a boost from Ares Management’s previous quarterly dividend of $0.93. This represents a $4.48 annualized dividend and a yield of 2.62%. The ex-dividend date is Monday, March 17th. Ares Management’s dividend payout ratio is presently 183.25%.

Ares Management 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.