B. Riley Wealth Advisors Inc. Has $226,000 Holdings in Ares Management Co. (NYSE:ARES)

B. Riley Wealth Advisors Inc. decreased its position in shares of Ares Management Co. (NYSE:ARES) by 46.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,897 shares of the asset manager’s stock after selling 1,639 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Ares Management were worth $226,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in Ares Management by 4.0% during the 4th quarter. Vanguard Group Inc. now owns 16,392,349 shares of the asset manager’s stock worth $1,949,378,000 after buying an additional 631,334 shares in the last quarter. Franklin Resources Inc. lifted its stake in shares of Ares Management by 1.9% in the 4th quarter. Franklin Resources Inc. now owns 3,872,559 shares of the asset manager’s stock valued at $460,525,000 after purchasing an additional 71,819 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Ares Management by 3.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,644,429 shares of the asset manager’s stock valued at $272,033,000 after purchasing an additional 78,781 shares during the period. Norges Bank acquired a new position in shares of Ares Management in the 4th quarter valued at $205,499,000. Finally, Corient Private Wealth LLC lifted its stake in shares of Ares Management by 216.3% in the 4th quarter. Corient Private Wealth LLC now owns 1,253,644 shares of the asset manager’s stock valued at $149,083,000 after purchasing an additional 857,245 shares during the period. Institutional investors and hedge funds own 50.03% of the company’s stock.

Insider Activity

In other news, CEO Michael J. Arougheti sold 157,837 shares of the firm’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $148.22, for a total value of $23,394,600.14. Following the completion of the transaction, the chief executive officer now owns 92,163 shares in the company, valued at approximately $13,660,399.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Judy D. Olian sold 3,417 shares of the firm’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $134.00, for a total value of $457,878.00. Following the completion of the sale, the director now directly owns 27,312 shares in the company, valued at approximately $3,659,808. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael J. Arougheti sold 157,837 shares of the firm’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $148.22, for a total transaction of $23,394,600.14. Following the completion of the sale, the chief executive officer now owns 92,163 shares of the company’s stock, valued at $13,660,399.86. The disclosure for this sale can be found here. Insiders sold 1,612,693 shares of company stock worth $218,186,465 in the last quarter. Corporate insiders own 1.20% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Jefferies Financial Group cut their price target on Ares Management from $131.00 to $127.00 and set a “hold” rating on the stock in a research note on Thursday, May 9th. Deutsche Bank Aktiengesellschaft downgraded Ares Management from a “buy” rating to a “hold” rating and cut their price target for the company from $176.00 to $132.00 in a research note on Thursday, June 13th. JMP Securities restated a “market perform” rating on shares of Ares Management in a research report on Tuesday, April 9th. TD Cowen upped their price objective on shares of Ares Management from $154.00 to $171.00 and gave the company a “buy” rating in a research report on Wednesday, May 22nd. Finally, Barclays lowered their price objective on shares of Ares Management from $153.00 to $150.00 and set an “overweight” rating for the company in a research report on Friday, May 3rd. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $130.29.

Ares Management Price Performance

ARES stock opened at $135.95 on Friday. The stock has a 50-day moving average price of $137.96 and a two-hundred day moving average price of $130.46. The stock has a market cap of $42.12 billion, a PE ratio of 60.96, a price-to-earnings-growth ratio of 1.29 and a beta of 1.21. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.70. Ares Management Co. has a 1 year low of $92.43 and a 1 year high of $150.12.

Ares Management (NYSE:ARES) last released its earnings results on Thursday, May 2nd. The asset manager reported $0.80 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.13). The firm 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 quarter last year, the company posted $0.71 EPS. Equities analysts forecast that Ares Management Co. will post 4.25 EPS for the current fiscal year.

Ares Management Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be issued a $0.93 dividend. This represents a $3.72 annualized dividend and a dividend yield of 2.74%. The ex-dividend date of this dividend is Friday, June 14th. Ares Management’s payout ratio is 166.82%.

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.