Ares Management Co. (NYSE:ARES) Shares Acquired by Overbrook Management Corp

Overbrook Management Corp increased its stake in shares of Ares Management Co. (NYSE:ARES) by 0.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 134,479 shares of the asset manager’s stock after buying an additional 484 shares during the quarter. Ares Management comprises about 5.1% of Overbrook Management Corp’s holdings, making the stock its 5th largest position. Overbrook Management Corp’s holdings in Ares Management were worth $23,807,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in ARES. Victory Capital Management Inc. lifted its stake in shares of Ares Management by 6.5% in the 3rd quarter. Victory Capital Management Inc. now owns 65,417 shares of the asset manager’s stock worth $10,195,000 after acquiring an additional 4,000 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Ares Management by 5.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 682,985 shares of the asset manager’s stock worth $106,436,000 after purchasing an additional 36,476 shares in the last quarter. Toronto Dominion Bank lifted its position in Ares Management by 31.2% in the third quarter. Toronto Dominion Bank now owns 22,750 shares of the asset manager’s stock valued at $3,545,000 after purchasing an additional 5,404 shares during the period. JPMorgan Chase & Co. boosted its holdings in Ares Management by 9.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 8,244,179 shares of the asset manager’s stock valued at $1,284,773,000 after purchasing an additional 679,462 shares in the last quarter. Finally, Caldwell Investment Management Ltd. increased its position in Ares Management by 134.1% during the 4th quarter. Caldwell Investment Management Ltd. now owns 10,300 shares of the asset manager’s stock worth $1,842,000 after purchasing an additional 5,900 shares during the period. Institutional investors and hedge funds own 50.03% of the company’s stock.

Insider Transactions at Ares Management

In other Ares Management news, insider Ryan Berry sold 14,357 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $180.16, for a total value of $2,586,557.12. Following the sale, the insider now directly owns 233,214 shares of the company’s stock, valued at approximately $42,015,834.24. This trade represents a 5.80 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Bennett Rosenthal sold 20,048 shares of Ares Management stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $167.44, for a total value of $3,356,837.12. Following the completion of the sale, the chairman now owns 229,952 shares of the company’s stock, valued at $38,503,162.88. This trade represents a 8.02 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 574,167 shares of company stock worth $99,996,647 over the last ninety days. 41.89% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

ARES has been the subject of several recent analyst reports. JPMorgan Chase & Co. reduced their price target on Ares Management from $176.00 to $174.00 and set an “overweight” rating for the company in a report on Tuesday, November 5th. Morgan Stanley raised their target price on Ares Management from $136.00 to $162.00 and gave the company an “equal weight” rating in a report on Thursday, October 10th. TD Cowen upped their price target on shares of Ares Management from $184.00 to $187.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Wells Fargo & Company reduced their price objective on shares of Ares Management from $212.00 to $207.00 and set an “overweight” rating for the company in a research note on Tuesday, January 14th. Finally, Keefe, Bruyette & Woods upgraded shares of Ares Management from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $166.00 to $202.00 in a research report on Friday, December 20th. 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $171.92.

Ares Management Trading Up 2.0 %

Shares of ARES opened at $191.69 on Monday. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.05 and a quick ratio of 1.05. Ares Management Co. has a 1-year low of $112.83 and a 1-year high of $192.01. The stock has a market cap of $60.01 billion, a price-to-earnings ratio of 88.34, a price-to-earnings-growth ratio of 1.33 and a beta of 1.18. The firm has a 50 day simple moving average of $177.20 and a 200-day simple moving average of $160.50.

Ares Management (NYSE:ARES) last released its quarterly earnings results on Friday, November 1st. The asset manager reported $0.95 earnings per share for the quarter, topping analysts’ consensus estimates of $0.94 by $0.01. The company had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $833.58 million. Ares Management had a return on equity of 19.89% and a net margin of 12.51%. During the same period in the previous year, the firm posted $0.83 earnings per share. Equities analysts forecast that Ares Management Co. will post 4.06 EPS for the current fiscal year.

Ares Management Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th were paid a dividend of $0.93 per share. The ex-dividend date was Tuesday, December 17th. This represents a $3.72 annualized dividend and a dividend yield of 1.94%. Ares Management’s dividend payout ratio is currently 171.43%.

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.