Ares Management Co. (NYSE:ARES) Shares Sold by Axxcess Wealth Management LLC

Axxcess Wealth Management LLC decreased its position in shares of Ares Management Co. (NYSE:ARES) by 7.7% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 3,517 shares of the asset manager’s stock after selling 292 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Ares Management were worth $468,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Dai ichi Life Insurance Company Ltd increased its position in Ares Management by 49.2% in the 4th quarter. Dai ichi Life Insurance Company Ltd now owns 19,949 shares of the asset manager’s stock valued at $2,372,000 after acquiring an additional 6,576 shares during the period. Grayhawk Investment Strategies Inc. purchased a new stake in shares of Ares Management during the fourth quarter worth approximately $1,100,000. Westpac Banking Corp purchased a new stake in shares of Ares Management during the fourth quarter worth approximately $2,421,000. Norden Group LLC lifted its holdings in shares of Ares Management by 2,695.3% during the first quarter. Norden Group LLC now owns 70,414 shares of the asset manager’s stock worth $9,364,000 after purchasing an additional 67,895 shares during the period. Finally, Triasima Portfolio Management inc. grew its position in Ares Management by 31.4% in the 4th quarter. Triasima Portfolio Management inc. now owns 66,950 shares of the asset manager’s stock valued at $7,962,000 after buying an additional 16,010 shares during the last quarter. Hedge funds and other institutional investors own 50.03% of the company’s stock.

Insider Activity at Ares Management

In other Ares Management news, insider R. Kipp Deveer sold 41,676 shares of Ares Management stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $150.21, for a total value of $6,260,151.96. Following the completion of the transaction, the insider now owns 1,075,000 shares of the company’s stock, valued at $161,475,750. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, insider R. Kipp Deveer sold 41,676 shares of the company’s stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $150.21, for a total transaction of $6,260,151.96. Following the completion of the transaction, the insider now directly owns 1,075,000 shares of the company’s stock, valued at $161,475,750. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Bennett Rosenthal sold 100,000 shares of the business’s stock in a transaction dated Friday, May 31st. The shares were sold at an average price of $140.41, for a total transaction of $14,041,000.00. Following the transaction, the chairman now directly owns 150,000 shares of the company’s stock, valued at $21,061,500. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 702,930 shares of company stock valued at $97,948,044. Corporate insiders own 1.20% of the company’s stock.

Ares Management Stock Up 1.2 %

Shares of ARES stock traded up $1.80 during mid-day trading on Friday, reaching $147.10. 664,835 shares of the company were exchanged, compared to its average volume of 1,055,863. Ares Management Co. has a fifty-two week low of $96.00 and a fifty-two week high of $152.63. 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 company has a market capitalization of $45.57 billion, a P/E ratio of 65.96, a P/E/G ratio of 1.25 and a beta of 1.22. The business’s 50 day simple moving average is $139.81 and its 200 day simple moving average is $134.22.

Ares Management (NYSE:ARES) last issued its quarterly earnings results on Thursday, May 2nd. The asset manager reported $0.80 EPS for the quarter, missing the consensus estimate of $0.93 by ($0.13). The company had revenue of $707.36 million for the quarter, compared to the consensus estimate of $814.88 million. Ares Management had a return on equity of 21.22% and a net margin of 12.86%. During the same period in the previous year, the business posted $0.71 EPS. Research analysts predict that Ares Management Co. will post 4.24 earnings per share for the current year.

Ares Management Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were issued a $0.93 dividend. The ex-dividend date of this dividend was Friday, June 14th. This represents a $3.72 dividend on an annualized basis and a dividend yield of 2.53%. Ares Management’s dividend payout ratio (DPR) is 166.82%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on ARES. Barclays lifted their price objective on Ares Management from $150.00 to $151.00 and gave the company an “overweight” rating in a report on Wednesday, July 10th. Deutsche Bank Aktiengesellschaft lowered Ares Management from a “buy” rating to a “hold” rating and lowered their target price for the company from $176.00 to $132.00 in a report on Thursday, June 13th. TD Cowen cut their price objective on Ares Management from $168.00 to $158.00 and set a “buy” rating for the company in a research report on Monday, July 8th. JMP Securities reiterated a “market perform” rating on shares of Ares Management in a report on Tuesday, April 9th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $150.00 price objective on shares of Ares Management in a research report on Wednesday, May 22nd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, Ares Management has an average rating of “Hold” and an average price target of $134.33.

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.