Janney Montgomery Scott LLC Purchases 13,655 Shares of Ares Management Co. (NYSE:ARES)

Janney Montgomery Scott LLC grew its holdings in shares of Ares Management Co. (NYSE:ARES) by 13.5% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 114,714 shares of the asset manager’s stock after buying an additional 13,655 shares during the period. Janney Montgomery Scott LLC’s holdings in Ares Management were worth $13,642,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of Ares Management by 10.4% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 72,137 shares of the asset manager’s stock worth $8,336,000 after acquiring an additional 6,783 shares during the last quarter. Westpac Banking Corp bought a new position in Ares Management in the 4th quarter worth about $2,421,000. Keystone Investors PTE Ltd. grew its position in Ares Management by 85.2% during the 4th quarter. Keystone Investors PTE Ltd. now owns 934,360 shares of the asset manager’s stock valued at $111,114,000 after purchasing an additional 429,953 shares during the last quarter. Quotient Wealth Partners LLC bought a new stake in Ares Management during the 4th quarter valued at about $1,087,000. Finally, Avantax Advisory Services Inc. raised its holdings in Ares Management by 5.3% in the fourth quarter. Avantax Advisory Services Inc. now owns 2,694 shares of the asset manager’s stock worth $320,000 after buying an additional 136 shares during the last quarter. 50.03% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Ares Management

In other news, CEO Michael J. Arougheti sold 157,837 shares of the 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 directly owns 92,163 shares in the company, valued at $13,660,399.86. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Chairman Antony P. Ressler sold 174,258 shares of the business’s stock in a transaction on Monday, April 8th. The stock was sold at an average price of $134.89, for a total transaction of $23,505,661.62. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Michael J. Arougheti sold 157,837 shares of the company’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $148.22, for a total value of $23,394,600.14. Following the transaction, the chief executive officer now directly owns 92,163 shares in the company, valued at $13,660,399.86. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,488,844 shares of company stock valued at $200,239,222. Company insiders own 1.20% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. TD Cowen started coverage on shares of Ares Management in a research report on Tuesday, May 7th. They set a “buy” rating and a $154.00 price target for the company. Wells Fargo & Company upped their price target on Ares Management from $112.00 to $126.00 and gave the company an “equal weight” rating in a report on Friday, February 9th. Morgan Stanley lifted their price objective on Ares Management from $109.00 to $118.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 24th. Barclays decreased their price objective on shares of Ares Management from $153.00 to $150.00 and set an “overweight” rating for the company in a report on Friday, May 3rd. Finally, JPMorgan Chase & Co. boosted their target price on shares of Ares Management from $119.00 to $141.00 and gave the company an “overweight” rating in a research report on Friday, February 9th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $128.46.

Ares Management Stock Down 0.7 %

NYSE:ARES opened at $145.60 on Friday. The stock has a fifty day simple moving average of $134.86 and a 200-day simple moving average of $124.25. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.70. The company has a market cap of $45.08 billion, a price-to-earnings ratio of 65.29, a price-to-earnings-growth ratio of 1.26 and a beta of 1.17. Ares Management Co. has a twelve month low of $81.79 and a twelve month high of $150.12.

Ares Management (NYSE:ARES) last issued its earnings results on Thursday, May 2nd. The asset manager reported $0.80 EPS for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.13). The company had revenue of $707.36 million for the quarter, compared to analysts’ expectations of $814.88 million. Ares Management had a return on equity of 21.22% and a net margin of 12.86%. During the same period last year, the business posted $0.71 earnings per share. Analysts anticipate that Ares Management Co. will post 4.24 EPS for the current year.

Ares Management Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be paid a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a yield of 2.55%. The ex-dividend date is Friday, June 14th. Ares Management’s dividend payout ratio (DPR) is presently 166.82%.

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.