Ares Management Co. (NYSE:ARES) Stock Position Reduced by Incline Global Management LLC

Incline Global Management LLC cut its holdings in Ares Management Co. (NYSE:ARES) by 19.9% in the first quarter, Holdings Channel.com reports. The fund owned 111,963 shares of the asset manager’s stock after selling 27,811 shares during the quarter. Ares Management makes up about 4.7% of Incline Global Management LLC’s investment portfolio, making the stock its 12th largest position. Incline Global Management LLC’s holdings in Ares Management were worth $14,889,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Compass Wealth Management LLC acquired a new position in Ares Management during the 1st quarter valued at $28,000. Riverview Trust Co bought a new stake in shares of Ares Management in the 1st quarter worth about $29,000. Hartford Financial Management Inc. grew its holdings in shares of Ares Management by 47.4% in the 4th quarter. Hartford Financial Management Inc. now owns 280 shares of the asset manager’s stock worth $33,000 after purchasing an additional 90 shares during the last quarter. West Oak Capital LLC grew its holdings in Ares Management by 66.7% during the 1st quarter. West Oak Capital LLC now owns 250 shares of the asset manager’s stock worth $33,000 after acquiring an additional 100 shares during the last quarter. Finally, Arlington Trust Co LLC bought a new stake in Ares Management during the 4th quarter worth about $34,000. 50.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft downgraded shares of Ares Management from a “buy” rating to a “hold” rating and cut their target price for the company from $176.00 to $132.00 in a research report on Thursday, June 13th. Barclays increased their target price on Ares Management from $150.00 to $151.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 10th. TD Cowen decreased their price target on shares of Ares Management from $168.00 to $158.00 and set a “buy” rating for the company in a research note on Monday, July 8th. JMP Securities reissued a “market perform” rating on shares of Ares Management in a research note on Tuesday, April 9th. Finally, UBS Group decreased their target price on shares of Ares Management from $160.00 to $158.00 and set a “buy” rating for the company in a research note on Wednesday, July 10th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, Ares Management presently has a consensus rating of “Hold” and an average target price of $134.50.

Insider Activity

In other news, Chairman Bennett Rosenthal sold 100,000 shares of Ares Management stock in a transaction dated Friday, May 31st. The stock was sold at an average price of $140.41, for a total transaction of $14,041,000.00. Following the completion of the sale, the chairman now owns 150,000 shares in the company, valued at approximately $21,061,500. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, insider R. Kipp Deveer sold 41,676 shares of the business’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 value of $6,260,151.96. Following the completion of the sale, the insider now owns 1,075,000 shares in the company, valued at approximately $161,475,750. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Bennett Rosenthal sold 100,000 shares of the business’s stock in a transaction that occurred on Friday, May 31st. The stock was sold at an average price of $140.41, for a total value of $14,041,000.00. Following the completion of the sale, the chairman now owns 150,000 shares of the company’s stock, valued at approximately $21,061,500. The disclosure for this sale can be found here. In the last 90 days, insiders sold 702,930 shares of company stock worth $97,948,044. 1.20% of the stock is currently owned by insiders.

Ares Management Price Performance

NYSE ARES traded up $4.25 during trading hours on Tuesday, hitting $149.60. The company had a trading volume of 1,787,464 shares, compared to its average volume of 1,146,785. Ares Management Co. has a 52 week low of $96.00 and a 52 week high of $152.63. The firm has a 50 day simple moving average of $139.94 and a 200 day simple moving average of $134.88. 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 firm has a market capitalization of $46.35 billion, a price-to-earnings ratio of 67.09, a PEG ratio of 1.27 and a beta of 1.22.

Ares Management (NYSE:ARES) last issued its 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). Ares Management had a return on equity of 21.22% and a net margin of 12.86%. The company had revenue of $707.36 million during the quarter, compared to the consensus estimate of $814.88 million. During the same quarter in the prior year, the business earned $0.71 EPS. Equities research analysts expect that Ares Management Co. will post 4.24 earnings per share for the current year.

Ares Management Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were given a dividend of $0.93 per share. 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 2.49%. Ares Management’s dividend payout ratio (DPR) is presently 166.82%.

About Ares Management

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.