Ares Management Co. (NYSE:ARES) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp trimmed its position in Ares Management Co. (NYSE:ARES) by 2.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 865,707 shares of the asset manager’s stock after selling 18,188 shares during the period. Bank of New York Mellon Corp owned about 0.28% of Ares Management worth $153,256,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Versant Capital Management Inc boosted its holdings in Ares Management by 67.0% in the 4th quarter. Versant Capital Management Inc now owns 162 shares of the asset manager’s stock worth $29,000 after buying an additional 65 shares during the last quarter. GAMMA Investing LLC boosted its holdings in Ares Management by 53.4% in the 4th quarter. GAMMA Investing LLC now owns 227 shares of the asset manager’s stock worth $40,000 after buying an additional 79 shares during the last quarter. Point72 DIFC Ltd acquired a new stake in Ares Management in the 3rd quarter worth about $36,000. CENTRAL TRUST Co boosted its holdings in Ares Management by 1,572.7% in the 4th quarter. CENTRAL TRUST Co now owns 368 shares of the asset manager’s stock worth $65,000 after buying an additional 346 shares during the last quarter. Finally, Global Retirement Partners LLC boosted its holdings in Ares Management by 48.0% in the 4th quarter. Global Retirement Partners LLC now owns 435 shares of the asset manager’s stock worth $77,000 after buying an additional 141 shares during the last quarter. 50.03% of the stock is currently owned by institutional investors and hedge funds.

Ares Management Stock Up 2.3 %

ARES stock opened at $170.93 on Friday. The firm has a market cap of $53.51 billion, a PE ratio of 84.20, a PEG ratio of 1.28 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. The firm’s 50 day moving average price is $184.25 and its 200-day moving average price is $169.35. Ares Management Co. has a one year low of $125.23 and a one year high of $200.49.

Ares Management (NYSE:ARES) last posted its earnings results on Wednesday, February 5th. The asset manager reported $1.23 earnings per share for the quarter, missing the consensus estimate of $1.35 by ($0.12). Ares Management had a net margin of 11.35% and a return on equity of 16.64%. On average, equities research analysts anticipate that Ares Management Co. will post 5.28 EPS for the current year.

Ares Management Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be paid a $1.12 dividend. This is an increase from Ares Management’s previous quarterly dividend of $0.93. The ex-dividend date of this dividend is Monday, March 17th. This represents a $4.48 annualized dividend and a dividend yield of 2.62%. Ares Management’s payout ratio is 183.25%.

Analysts Set New Price Targets

A number of research firms have weighed in on ARES. JPMorgan Chase & Co. decreased their target price on shares of Ares Management from $176.00 to $174.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 5th. StockNews.com lowered shares of Ares Management from a “hold” rating to a “sell” rating in a research note on Wednesday, January 8th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Ares Management from $146.00 to $150.00 and gave the stock a “hold” rating in a research note on Monday, November 11th. Wells Fargo & Company raised their target price on shares of Ares Management from $207.00 to $215.00 and gave the stock an “overweight” rating in a research note on Thursday, February 6th. Finally, Royal Bank of Canada raised their target price on shares of Ares Management from $170.00 to $185.00 and gave the stock an “outperform” rating in a research note on Monday, November 4th. One research analyst has rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, Ares Management currently has an average rating of “Moderate Buy” and an average price target of $176.17.

Insiders Place Their Bets

In other Ares Management news, insider Ryan Berry sold 5,443 shares of the business’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $180.14, for a total value of $980,502.02. Following the completion of the transaction, the insider now owns 247,771 shares in the company, valued at $44,633,467.94. The trade was a 2.15 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider R. Kipp Deveer sold 78,933 shares of the business’s stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $190.02, for a total transaction of $14,998,848.66. Following the completion of the transaction, the insider now owns 1,150,000 shares of the company’s stock, valued at approximately $218,523,000. This trade represents a 6.42 % 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 over the last 90 days. Corporate insiders own 1.20% of the company’s stock.

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.