Overbrook Management Corp increased its position in Ares Management Co. (NYSE:ARES – Free Report) by 0.4% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 134,479 shares of the asset manager’s stock after buying an additional 484 shares during the period. Ares Management accounts for about 5.1% of Overbrook Management Corp’s holdings, making the stock its 5th largest holding. Overbrook Management Corp’s holdings in Ares Management were worth $23,807,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ARES. JPMorgan Chase & Co. lifted its position in Ares Management by 9.0% during the third quarter. JPMorgan Chase & Co. now owns 8,244,179 shares of the asset manager’s stock valued at $1,284,773,000 after buying an additional 679,462 shares in the last quarter. FMR LLC raised its stake in shares of Ares Management by 1.0% in the 3rd quarter. FMR LLC now owns 6,301,709 shares of the asset manager’s stock valued at $982,058,000 after acquiring an additional 63,851 shares during the period. State Street Corp lifted its holdings in shares of Ares Management by 5.1% during the 3rd quarter. State Street Corp now owns 3,826,479 shares of the asset manager’s stock valued at $596,318,000 after acquiring an additional 187,184 shares in the last quarter. Franklin Resources Inc. boosted its position in Ares Management by 0.5% during the 3rd quarter. Franklin Resources Inc. now owns 3,678,177 shares of the asset manager’s stock worth $600,830,000 after purchasing an additional 18,773 shares during the period. Finally, Geode Capital Management LLC increased its holdings in Ares Management by 6.3% in the 3rd quarter. Geode Capital Management LLC now owns 2,950,451 shares of the asset manager’s stock valued at $459,580,000 after purchasing an additional 175,627 shares in the last quarter. Institutional investors and hedge funds own 50.03% of the company’s stock.
Ares Management Stock Performance
Shares of ARES stock opened at $191.69 on Monday. The stock has a market capitalization of $60.01 billion, a price-to-earnings ratio of 88.34, a PEG ratio of 1.33 and a beta of 1.18. Ares Management Co. has a one year low of $112.83 and a one year high of $192.01. The company’s 50-day simple moving average is $177.20 and its 200-day simple moving average is $160.50. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.05 and a current ratio of 1.05.
Ares Management Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th were given a $0.93 dividend. The ex-dividend date of this dividend was Tuesday, December 17th. This represents a $3.72 dividend on an annualized basis and a dividend yield of 1.94%. Ares Management’s payout ratio is currently 171.43%.
Wall Street Analyst Weigh In
A number of research analysts have commented on the company. The Goldman Sachs Group boosted their price objective on Ares Management from $145.00 to $160.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. TD Cowen boosted their price target on Ares Management from $184.00 to $187.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Keefe, Bruyette & Woods raised shares of Ares Management from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $166.00 to $202.00 in a research report on Friday, December 20th. StockNews.com cut shares of Ares Management from a “hold” rating to a “sell” rating in a research report on Wednesday, January 8th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Ares Management from $176.00 to $174.00 and set an “overweight” rating for the company in a report on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $171.92.
Check Out Our Latest Analysis on ARES
Insider Activity
In related news, insider Ryan Berry sold 14,357 shares of the firm’s stock in a transaction that occurred on 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 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 document filed with the SEC, which is accessible through this hyperlink. Also, CEO Michael J. Arougheti sold 20,096 shares of the company’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $167.44, for a total value of $3,364,874.24. Following the transaction, the chief executive officer now owns 229,904 shares of the company’s stock, valued at approximately $38,495,125.76. The trade was a 8.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 574,167 shares of company stock valued at $99,996,647. Company insiders own 41.89% of the company’s stock.
Ares Management Company 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.
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