Fiera Capital Corp Trims Stock Position in Ares Management Co. (NYSE:ARES)

Fiera Capital Corp lessened its holdings in shares of Ares Management Co. (NYSE:ARESGet Rating) by 4.7% in the 4th quarter, HoldingsChannel reports. The firm owned 521,261 shares of the asset manager’s stock after selling 25,506 shares during the quarter. Fiera Capital Corp’s holdings in Ares Management were worth $42,363,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of ARES. Curated Wealth Partners LLC grew its position in Ares Management by 2,612.8% during the fourth quarter. Curated Wealth Partners LLC now owns 1,676,948 shares of the asset manager’s stock valued at $136,285,000 after buying an additional 1,615,131 shares during the period. Wellington Management Group LLP grew its position in Ares Management by 10.1% during the third quarter. Wellington Management Group LLP now owns 16,801,355 shares of the asset manager’s stock valued at $1,240,444,000 after buying an additional 1,548,154 shares during the period. BlackRock Inc. grew its position in Ares Management by 13.8% during the third quarter. BlackRock Inc. now owns 5,878,288 shares of the asset manager’s stock valued at $433,993,000 after buying an additional 711,626 shares during the period. Principal Financial Group Inc. grew its position in Ares Management by 34.7% during the third quarter. Principal Financial Group Inc. now owns 2,057,684 shares of the asset manager’s stock valued at $151,918,000 after buying an additional 530,172 shares during the period. Finally, Geode Capital Management LLC grew its position in Ares Management by 35.9% during the third quarter. Geode Capital Management LLC now owns 1,868,207 shares of the asset manager’s stock valued at $137,929,000 after buying an additional 493,460 shares during the period. 44.85% of the stock is owned by hedge funds and other institutional investors.

ARES has been the topic of several research analyst reports. UBS Group lifted their target price on shares of Ares Management from $85.00 to $91.00 and gave the company a “buy” rating in a research report on Monday, February 14th. BMO Capital Markets lifted their target price on shares of Ares Management from $90.00 to $97.00 and gave the company an “outperform” rating in a research report on Monday, February 14th. StockNews.com initiated coverage on shares of Ares Management in a research report on Thursday, March 31st. They issued a “sell” rating on the stock. Royal Bank of Canada dropped their target price on shares of Ares Management from $98.00 to $90.00 in a research report on Friday, January 28th. Finally, Wells Fargo & Company dropped their target price on shares of Ares Management from $94.00 to $92.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 19th. One analyst has rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $94.56.

In other news, CEO Michael J. Arougheti sold 26,879 shares of the business’s stock in a transaction that occurred on Monday, April 4th. The shares were sold at an average price of $85.06, for a total value of $2,286,327.74. Following the sale, the chief executive officer now directly owns 990,609 shares of the company’s stock, valued at approximately $84,261,201.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Ares Capital Management Ii Llc purchased 3,000,000 shares of Ares Management stock in a transaction dated Friday, April 1st. The stock was bought at an average cost of $25.00 per share, for a total transaction of $75,000,000.00. The disclosure for this purchase can be found here. Insiders have sold 266,520 shares of company stock worth $21,408,641 over the last ninety days. 49.34% of the stock is owned by insiders.

ARES traded down $4.78 on Friday, reaching $66.22. 1,170,441 shares of the company’s stock were exchanged, compared to its average volume of 731,060. The stock has a market cap of $19.20 billion, a PE ratio of 32.46, a P/E/G ratio of 0.83 and a beta of 0.97. Ares Management Co. has a twelve month low of $50.46 and a twelve month high of $90.08. The stock’s fifty day moving average price is $76.90 and its 200-day moving average price is $79.08. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.16 and a quick ratio of 0.16.

Ares Management (NYSE:ARESGet Rating) last issued its earnings results on Thursday, April 28th. The asset manager reported $0.65 EPS for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.02). Ares Management had a return on equity of 15.16% and a net margin of 9.71%. The firm had revenue of $715.00 million for the quarter, compared to analysts’ expectations of $605.10 million. During the same period last year, the firm earned $0.46 earnings per share. Ares Management’s revenue for the quarter was up 8.6% on a year-over-year basis. As a group, research analysts predict that Ares Management Co. will post 3.24 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 30th. Shareholders of record on Thursday, June 16th will be paid a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a yield of 3.68%. The ex-dividend date of this dividend is Wednesday, June 15th. Ares Management’s dividend payout ratio (DPR) is presently 119.61%.

About Ares Management (Get Rating)

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.

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Institutional Ownership by Quarter for Ares Management (NYSE:ARES)

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