Fjell Capital LLC Invests $1.06 Million in Ares Management Co. (NYSE:ARES)

Fjell Capital LLC bought a new stake in Ares Management Co. (NYSE:ARES) in the fourth quarter, HoldingsChannel.com reports. The fund bought 5,981 shares of the asset manager’s stock, valued at approximately $1,059,000.

Several other large investors also recently bought and sold shares of the business. Private Advisor Group LLC lifted its stake in shares of Ares Management by 2.6% in the 3rd quarter. Private Advisor Group LLC now owns 4,279 shares of the asset manager’s stock valued at $667,000 after purchasing an additional 108 shares during the last quarter. PFG Investments LLC purchased a new position in Ares Management during the third quarter worth $228,000. Baker Tilly Wealth Management LLC increased its position in Ares Management by 19.9% during the third quarter. Baker Tilly Wealth Management LLC now owns 2,504 shares of the asset manager’s stock valued at $390,000 after acquiring an additional 415 shares during the last quarter. abrdn plc raised its stake in shares of Ares Management by 1,085.0% in the third quarter. abrdn plc now owns 46,892 shares of the asset manager’s stock valued at $7,308,000 after acquiring an additional 42,935 shares during the period. Finally, First Trust Direct Indexing L.P. lifted its holdings in shares of Ares Management by 62.0% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 2,683 shares of the asset manager’s stock worth $418,000 after acquiring an additional 1,027 shares during the last quarter. Institutional investors own 50.03% of the company’s stock.

Insider Buying and Selling

In related news, insider R. Kipp Deveer sold 115,838 shares of the company’s stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $177.83, for a total transaction of $20,599,471.54. Following the transaction, the insider now directly owns 1,259,162 shares of the company’s stock, valued at $223,916,778.46. This represents a 8.42 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Ryan Berry sold 5,443 shares of the firm’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $180.14, for a total value of $980,502.02. Following the completion of the sale, the insider now directly owns 247,771 shares of the company’s stock, valued at approximately $44,633,467.94. This represents a 2.15 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 214,571 shares of company stock worth $39,165,379 in the last 90 days. 41.89% of the stock is owned by corporate insiders.

Ares Management Stock Down 0.9 %

Ares Management stock opened at $167.36 on Wednesday. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.53. The firm has a market cap of $52.39 billion, a P/E ratio of 82.44, a P/E/G ratio of 1.28 and a beta of 1.18. The business has a fifty day moving average of $184.43 and a two-hundred day moving average of $169.15. Ares Management Co. has a twelve month low of $125.23 and a twelve month high of $200.49.

Ares Management (NYSE:ARES) last issued its quarterly earnings data on Wednesday, February 5th. The asset manager reported $1.23 earnings per share for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.12). Ares Management had a return on equity of 16.64% and a net margin of 11.35%. On average, analysts forecast that Ares Management Co. will post 5.28 earnings per share for the current fiscal year.

Ares Management Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be given a $1.12 dividend. The ex-dividend date is Monday, March 17th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 2.68%. This is an increase from Ares Management’s previous quarterly dividend of $0.93. Ares Management’s payout ratio is presently 183.25%.

Analysts Set New Price Targets

A number of analysts recently weighed in on ARES shares. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Ares Management from $146.00 to $150.00 and gave the stock a “hold” rating in a research report on Monday, November 11th. StockNews.com cut Ares Management from a “hold” rating to a “sell” rating in a report on Wednesday, January 8th. JPMorgan Chase & Co. decreased their target price on Ares Management from $176.00 to $174.00 and set an “overweight” rating for the company in a research report on Tuesday, November 5th. Barclays cut their price target on shares of Ares Management from $224.00 to $217.00 and set an “overweight” rating on the stock in a report on Thursday, February 6th. Finally, Royal Bank of Canada lifted their price objective on shares of Ares Management from $170.00 to $185.00 and gave the company an “outperform” rating in a report on Monday, November 4th. One research analyst has rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $176.17.

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.