4,230 Shares in Ares Management Co. (NYSE:ARES) Bought by Everence Capital Management Inc.

Everence Capital Management Inc. bought a new stake in Ares Management Co. (NYSE:ARES) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 4,230 shares of the asset manager’s stock, valued at approximately $749,000.

Several other hedge funds also recently bought and sold shares of ARES. JPMorgan Chase & Co. grew its stake in shares of Ares Management by 9.0% in the 3rd 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 in the last quarter. FMR LLC lifted its stake in Ares Management by 1.0% in the third quarter. FMR LLC now owns 6,301,709 shares of the asset manager’s stock valued at $982,058,000 after acquiring an additional 63,851 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in Ares Management by 58.5% in the second quarter. Massachusetts Financial Services Co. MA now owns 5,058,394 shares of the asset manager’s stock worth $674,183,000 after acquiring an additional 1,867,933 shares in the last quarter. State Street Corp increased its stake in shares of Ares Management by 5.1% during the 3rd quarter. State Street Corp now owns 3,826,479 shares of the asset manager’s stock worth $596,318,000 after purchasing an additional 187,184 shares during the last quarter. Finally, Franklin Resources Inc. raised its holdings in shares of Ares Management by 0.5% during the 3rd quarter. Franklin Resources Inc. now owns 3,678,177 shares of the asset manager’s stock valued at $600,830,000 after purchasing an additional 18,773 shares in the last quarter. 50.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ARES has been the subject of a number of recent research reports. TD Cowen increased their target price 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. Deutsche Bank Aktiengesellschaft increased their price objective on Ares Management from $146.00 to $150.00 and gave the company a “hold” rating in a report on Monday, November 11th. JPMorgan Chase & Co. reduced their target price on Ares Management from $176.00 to $174.00 and set an “overweight” rating for the company in a report on Tuesday, November 5th. StockNews.com upgraded Ares Management from a “sell” rating to a “hold” rating in a report on Thursday, December 19th. Finally, The Goldman Sachs Group boosted their price objective on shares of Ares Management from $145.00 to $160.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Six investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $172.33.

Insider Buying and Selling

In other news, Chairman Bennett Rosenthal sold 15,763 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $167.24, for a total value of $2,636,204.12. Following the completion of the transaction, the chairman now directly owns 214,189 shares of the company’s stock, valued at approximately $35,820,968.36. This represents a 6.85 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Michael J. Arougheti sold 15,825 shares of the business’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $167.24, for a total value of $2,646,573.00. Following the completion of the sale, the chief executive officer now directly owns 214,079 shares in the company, valued at approximately $35,802,571.96. This represents a 6.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 614,167 shares of company stock valued at $106,716,247 over the last ninety days. 1.20% of the stock is owned by company insiders.

Ares Management Stock Performance

NYSE ARES opened at $181.11 on Friday. The company’s fifty day moving average is $174.34 and its two-hundred day moving average is $156.90. The firm has a market capitalization of $56.70 billion, a price-to-earnings ratio of 83.46, a P/E/G ratio of 1.99 and a beta of 1.18. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.05 and a quick ratio of 1.05. Ares Management Co. has a 52-week low of $112.83 and a 52-week high of $185.06.

Ares Management (NYSE:ARES) last released its earnings results on Friday, November 1st. The asset manager reported $0.95 earnings per share for the quarter, topping analysts’ consensus estimates of $0.94 by $0.01. The business had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $833.58 million. Ares Management had a return on equity of 19.89% and a net margin of 12.51%. During the same period last year, the business earned $0.83 earnings per share. Equities research analysts forecast that Ares Management Co. will post 4.06 EPS for the current year.

Ares Management Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th were paid a $0.93 dividend. The ex-dividend date of this dividend was Tuesday, December 17th. This represents a $3.72 dividend on an annualized basis and a dividend yield of 2.05%. Ares Management’s payout ratio is 171.43%.

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.