Price T Rowe Associates Inc. MD Cuts Stock Holdings in Ares Management Co. (NYSE:ARES)

Price T Rowe Associates Inc. MD lowered its holdings in shares of Ares Management Co. (NYSE:ARES) by 3.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,961,843 shares of the asset manager’s stock after selling 152,019 shares during the quarter. Price T Rowe Associates Inc. MD’s holdings in Ares Management were worth $526,847,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. lifted its position in Ares Management by 1.3% during the first quarter. Vanguard Group Inc. now owns 16,599,345 shares of the asset manager’s stock valued at $2,207,381,000 after purchasing an additional 206,996 shares during the last quarter. Franklin Resources Inc. lifted its position in Ares Management by 1.9% during the fourth 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 last quarter. LRI Investments LLC bought a new position in Ares Management during the first quarter valued at $264,729,000. Norges Bank bought a new position in Ares Management during the fourth quarter valued at $205,499,000. Finally, Corient Private Wealth LLC lifted its holdings 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 worth $149,083,000 after acquiring an additional 857,245 shares during the last quarter. Institutional investors own 50.03% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on ARES shares. Royal Bank of Canada restated an “outperform” rating and issued a $150.00 target price on shares of Ares Management in a report on Wednesday, May 22nd. Barclays lifted their price objective on shares of Ares Management from $150.00 to $151.00 and gave the company an “overweight” rating in a report on Wednesday, July 10th. Jefferies Financial Group decreased their price objective on shares of Ares Management from $131.00 to $127.00 and set a “hold” rating for the company in a report on Thursday, May 9th. JMP Securities reiterated a “market perform” rating on shares of Ares Management in a report on Tuesday, April 9th. Finally, Deutsche Bank Aktiengesellschaft lowered shares of Ares Management from a “buy” rating to a “hold” rating and decreased their price objective for the company from $176.00 to $132.00 in a report on Thursday, June 13th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $134.33.

Insider Buying and Selling at Ares Management

In other Ares Management news, CEO Michael J. Arougheti sold 157,837 shares of the company’s stock in a transaction that occurred on 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 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider R. Kipp Deveer sold 41,676 shares of the stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $150.21, for a total value of $6,260,151.96. Following the sale, the insider now owns 1,075,000 shares in the company, valued at $161,475,750. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Michael J. Arougheti sold 157,837 shares of the stock in a transaction on Wednesday, May 15th. The stock was 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 in the company, valued at approximately $13,660,399.86. The disclosure for this sale can be found here. In the last quarter, insiders have sold 702,930 shares of company stock worth $97,948,044. 1.20% of the stock is owned by corporate insiders.

Ares Management Stock Down 0.6 %

Shares of Ares Management stock traded down $0.89 on Monday, reaching $146.21. The stock had a trading volume of 229,411 shares, compared to its average volume of 1,136,478. The company has a 50 day moving average price of $139.81 and a 200 day moving average price of $134.46. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.70. Ares Management Co. has a 1 year low of $96.00 and a 1 year high of $152.63. The stock has a market capitalization of $45.30 billion, a P/E ratio of 65.96, a P/E/G ratio of 1.27 and a beta of 1.22.

Ares Management (NYSE:ARES) last issued its quarterly earnings data 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). Ares Management had a return on equity of 21.22% and a net margin of 12.86%. The firm had revenue of $707.36 million during the quarter, compared to analysts’ expectations of $814.88 million. During the same period in the previous year, the firm earned $0.71 EPS. As a group, equities research analysts forecast that Ares Management Co. will post 4.24 EPS for the current year.

Ares Management Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were paid a dividend of $0.93 per share. The ex-dividend date was Friday, June 14th. This represents a $3.72 dividend on an annualized basis and a yield of 2.54%. Ares Management’s payout ratio is 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.