Coastline Trust Co Has $5.25 Million Stake in Ares Management Co. (NYSE:ARES)

Coastline Trust Co reduced its holdings in shares of Ares Management Co. (NYSE:ARES) by 0.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 29,653 shares of the asset manager’s stock after selling 102 shares during the period. Coastline Trust Co’s holdings in Ares Management were worth $5,249,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank acquired a new position in shares of Ares Management during the fourth quarter worth approximately $381,365,000. Raymond James Financial Inc. bought a new position in shares of Ares Management during the 4th quarter worth approximately $335,858,000. TD Asset Management Inc. boosted its stake in shares of Ares Management by 4,557.2% in the 4th quarter. TD Asset Management Inc. now owns 1,304,759 shares of the asset manager’s stock worth $230,981,000 after buying an additional 1,276,743 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Ares Management by 5.1% in the fourth quarter. Vanguard Group Inc. now owns 18,807,718 shares of the asset manager’s stock valued at $3,329,530,000 after acquiring an additional 907,757 shares in the last quarter. Finally, FMR LLC increased its position in shares of Ares Management by 12.8% during the fourth quarter. FMR LLC now owns 7,109,070 shares of the asset manager’s stock valued at $1,258,519,000 after acquiring an additional 807,361 shares during the last quarter. Institutional investors own 50.03% of the company’s stock.

Ares Management Trading Up 1.3 %

ARES opened at $141.35 on Friday. The firm has a market capitalization of $44.58 billion, a price-to-earnings ratio of 69.63, a PEG ratio of 1.28 and a beta of 1.32. Ares Management Co. has a one year low of $110.63 and a one year high of $200.49. The business has a 50 day simple moving average of $152.94 and a two-hundred day simple moving average of $168.34. 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 (NYSE:ARES) last announced its quarterly earnings results on Wednesday, February 5th. The asset manager reported $1.23 EPS for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.12). Ares Management had a return on equity of 16.64% and a net margin of 11.35%. Analysts predict that Ares Management Co. will post 5.28 EPS for the current year.

Ares Management Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were given a dividend of $1.12 per share. The ex-dividend date of this dividend was Monday, March 17th. This represents a $4.48 annualized dividend and a dividend yield of 3.17%. This is a boost from Ares Management’s previous quarterly dividend of $0.93. Ares Management’s payout ratio is currently 183.25%.

Wall Street Analyst Weigh In

ARES has been the subject of a number of recent analyst reports. Citizens Jmp upgraded Ares Management from a “market perform” rating to an “outperform” rating and set a $165.00 price objective for the company in a research note on Tuesday, April 8th. Bank of America reduced their target price on Ares Management from $221.00 to $201.00 and set a “buy” rating for the company in a research report on Friday, April 4th. Wells Fargo & Company decreased their price objective on Ares Management from $187.00 to $156.00 and set an “overweight” rating on the stock in a report on Tuesday, April 8th. Oppenheimer raised Ares Management from a “market perform” rating to an “outperform” rating and set a $159.00 target price for the company in a research note on Wednesday. Finally, Morgan Stanley decreased their price target on shares of Ares Management from $197.00 to $152.00 and set an “equal weight” rating on the stock in a research note on Monday, April 14th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $165.00.

Insider Buying and Selling

In other Ares Management news, Director Ashish Bhutani bought 10,000 shares of the firm’s stock in a transaction on Tuesday, March 11th. The stock was acquired at an average price of $141.33 per share, with a total value of $1,413,300.00. Following the completion of the purchase, the director now owns 22,905 shares of the company’s stock, valued at approximately $3,237,163.65. This trade represents a 77.49 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Michael J. Arougheti sold 110,845 shares of the company’s stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $153.17, for a total value of $16,978,128.65. Following the completion of the sale, the chief executive officer now owns 1,400,000 shares in the company, valued at $214,438,000. The trade was a 7.34 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 329,113 shares of company stock valued at $54,409,915 over the last three months. Corporate insiders own 1.20% of the company’s stock.

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.