Spire Wealth Management Has $868,000 Stock Holdings in Ares Management Co. (NYSE:ARES)

Spire Wealth Management raised its position in Ares Management Co. (NYSE:ARES) by 1.6% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 4,905 shares of the asset manager’s stock after purchasing an additional 77 shares during the period. Spire Wealth Management’s holdings in Ares Management were worth $868,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Sanctuary Advisors LLC bought a new stake in shares of Ares Management during the 2nd quarter valued at $923,000. SG Americas Securities LLC bought a new stake in shares of Ares Management during the 3rd quarter valued at $1,138,000. Diversified Trust Co bought a new stake in shares of Ares Management during the 3rd quarter valued at $2,460,000. CWM LLC lifted its position in shares of Ares Management by 10.1% during the 3rd quarter. CWM LLC now owns 2,762 shares of the asset manager’s stock valued at $430,000 after acquiring an additional 253 shares during the period. Finally, Wedmont Private Capital bought a new stake in shares of Ares Management during the 3rd quarter valued at $237,000. 50.03% of the stock is owned by institutional investors and hedge funds.

Ares Management Trading Down 0.4 %

Shares of Ares Management stock opened at $195.70 on Wednesday. The stock has a market capitalization of $61.27 billion, a PE ratio of 90.19, a price-to-earnings-growth ratio of 1.50 and a beta of 1.18. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.05 and a current ratio of 1.05. Ares Management Co. has a 52 week low of $123.85 and a 52 week high of $200.49. The stock has a 50 day moving average price of $182.44 and a two-hundred day moving average price of $164.65.

Insider Activity at Ares Management

In related news, Chairman Bennett Rosenthal sold 20,048 shares of Ares Management stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $167.44, for a total transaction of $3,356,837.12. Following the transaction, the chairman now owns 229,952 shares of the company’s stock, valued at $38,503,162.88. The trade was a 8.02 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Michael J. Arougheti sold 15,825 shares of the business’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $167.24, for a total value of $2,646,573.00. Following the completion of the transaction, 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 have sold a total of 555,838 shares of company stock valued at $96,785,773 over the last 90 days. Insiders own 41.89% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on ARES shares. Morgan Stanley upped their price objective on Ares Management from $136.00 to $162.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 10th. Keefe, Bruyette & Woods raised Ares Management from a “market perform” rating to an “outperform” rating and increased their price target for the company from $166.00 to $202.00 in a research note on Friday, December 20th. Deutsche Bank Aktiengesellschaft lifted their target price on Ares Management from $146.00 to $150.00 and gave the stock a “hold” rating in a report on Monday, November 11th. Royal Bank of Canada lifted their target price on Ares Management from $170.00 to $185.00 and gave the stock an “outperform” rating in a report on Monday, November 4th. Finally, UBS Group lifted their target price on Ares Management from $158.00 to $195.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $176.08.

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.