Cyndeo Wealth Partners LLC Acquires Shares of 1,195 Ares Management Co. (NYSE:ARES)

Cyndeo Wealth Partners LLC bought a new position in Ares Management Co. (NYSE:ARES) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 1,195 shares of the asset manager’s stock, valued at approximately $212,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Impact Partnership Wealth LLC bought a new position in Ares Management in the 4th quarter worth approximately $513,000. RFG Advisory LLC grew its position in shares of Ares Management by 0.7% in the fourth quarter. RFG Advisory LLC now owns 11,051 shares of the asset manager’s stock valued at $1,956,000 after purchasing an additional 82 shares in the last quarter. New Century Financial Group LLC raised its stake in shares of Ares Management by 6.1% during the 4th quarter. New Century Financial Group LLC now owns 1,688 shares of the asset manager’s stock valued at $306,000 after purchasing an additional 97 shares during the period. Donoghue Forlines LLC purchased a new stake in Ares Management during the 4th quarter worth about $1,498,000. Finally, Mutual Advisors LLC boosted its stake in Ares Management by 14.6% in the 4th quarter. Mutual Advisors LLC now owns 4,856 shares of the asset manager’s stock worth $912,000 after purchasing an additional 620 shares during the period. Institutional investors own 50.03% of the company’s stock.

Ares Management Trading Up 0.8 %

Shares of ARES opened at $197.39 on Monday. Ares Management Co. has a fifty-two week low of $117.47 and a fifty-two week high of $197.53. The firm has a market cap of $61.79 billion, a price-to-earnings ratio of 90.96, a PEG ratio of 1.46 and a beta of 1.18. The firm has a 50 day moving average price of $179.76 and a 200-day moving average price of $162.36. 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 (NYSE:ARES) last posted its quarterly earnings results on Friday, November 1st. The asset manager reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.94 by $0.01. The business had revenue of $1.13 billion during the quarter, compared to analyst estimates of $833.58 million. Ares Management had a net margin of 12.51% and a return on equity of 19.89%. During the same period in the prior year, the business posted $0.83 earnings per share. As a group, equities research analysts forecast that Ares Management Co. will post 4.05 earnings per share for the current year.

Ares Management Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th were given a dividend of $0.93 per share. The ex-dividend date was Tuesday, December 17th. This represents a $3.72 annualized dividend and a yield of 1.88%. Ares Management’s payout ratio is 171.43%.

Insiders Place Their Bets

In other Ares Management news, insider Ryan Berry sold 18,329 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $175.18, for a total value of $3,210,874.22. Following the transaction, the insider now owns 254,885 shares in the company, valued at approximately $44,650,754.30. The trade was a 6.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider R. Kipp Deveer sold 115,838 shares of the company’s stock in a transaction dated Friday, December 6th. The shares were 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 approximately $223,916,778.46. This trade represents a 8.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 574,167 shares of company stock valued at $99,996,647 in the last ninety days. Company insiders own 1.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ARES. Keefe, Bruyette & Woods raised shares of Ares Management from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $166.00 to $202.00 in a report on Friday, December 20th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Ares Management from $146.00 to $150.00 and gave the company a “hold” rating in a report on Monday, November 11th. StockNews.com downgraded Ares Management from a “hold” rating to a “sell” rating in a research report on Wednesday, January 8th. Morgan Stanley boosted their target price 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. Finally, The Goldman Sachs Group lifted their price target on Ares Management from $145.00 to $160.00 and gave the company a “buy” rating in a research report on Monday, September 30th. One equities research 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’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $171.92.

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.