Ares Management Co. (NYSE:ARES) Shares Sold by Artisan Partners Limited Partnership

Artisan Partners Limited Partnership decreased its position in Ares Management Co. (NYSE:ARES) by 2.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 764,124 shares of the asset manager’s stock after selling 17,776 shares during the quarter. Artisan Partners Limited Partnership owned 0.24% of Ares Management worth $135,273,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Versant Capital Management Inc lifted its stake in shares of Ares Management by 67.0% in the fourth quarter. Versant Capital Management Inc now owns 162 shares of the asset manager’s stock worth $29,000 after acquiring an additional 65 shares in the last quarter. Point72 DIFC Ltd purchased a new stake in Ares Management during the 3rd quarter worth approximately $36,000. Noble Wealth Management PBC acquired a new position in shares of Ares Management in the 4th quarter valued at approximately $36,000. GAMMA Investing LLC boosted its stake in shares of Ares Management by 53.4% during the 4th quarter. GAMMA Investing LLC now owns 227 shares of the asset manager’s stock valued at $40,000 after buying an additional 79 shares during the last quarter. Finally, Avalon Trust Co acquired a new stake in shares of Ares Management during the fourth quarter worth approximately $53,000. Hedge funds and other institutional investors own 50.03% of the company’s stock.

Ares Management Trading Down 3.0 %

NYSE:ARES opened at $148.66 on Friday. The firm has a market capitalization of $46.89 billion, a P/E ratio of 73.23, a P/E/G ratio of 1.28 and a beta of 1.23. The business has a 50 day simple moving average of $173.01 and a 200 day simple moving average of $170.21. 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 12-month low of $125.23 and a 12-month high of $200.49.

Ares Management (NYSE:ARES) last announced its quarterly earnings results on Wednesday, February 5th. The asset manager reported $1.23 earnings per share (EPS) 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%. Equities research analysts predict that Ares Management Co. will post 5.28 EPS for the current year.

Ares Management Increases Dividend

The company 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. The ex-dividend date of this dividend is Monday, March 17th. This represents a $4.48 annualized dividend and a dividend yield of 3.01%. This is a positive change from Ares Management’s previous quarterly dividend of $0.93. Ares Management’s dividend payout ratio (DPR) is presently 183.25%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on ARES. StockNews.com cut shares of Ares Management from a “hold” rating to a “sell” rating in a report on Wednesday, January 8th. Barclays cut their target price on shares of Ares Management from $224.00 to $217.00 and set an “overweight” rating on the stock in a research note on Thursday, February 6th. Wells Fargo & Company decreased their price target on Ares Management from $215.00 to $187.00 and set an “overweight” rating for the company in a research note on Thursday, March 20th. JMP Securities restated a “market perform” rating on shares of Ares Management in a research note on Thursday, February 6th. Finally, Keefe, Bruyette & Woods upgraded Ares Management from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $166.00 to $202.00 in a research report on Friday, December 20th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $173.83.

Insider Activity

In related news, insider R. Kipp Deveer sold 78,933 shares of the company’s stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $190.02, for a total value of $14,998,848.66. Following the completion of the sale, the insider now owns 1,150,000 shares of the company’s stock, valued at $218,523,000. This represents a 6.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Michael J. Arougheti sold 110,845 shares of the firm’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $153.17, for a total transaction of $16,978,128.65. Following the transaction, the chief executive officer now directly owns 1,400,000 shares in the company, valued at approximately $214,438,000. The trade was a 7.34 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 329,113 shares of company stock valued at $54,409,915. 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.