Coastline Trust Co Sells 102 Shares of Ares Management Co. (NYSE:ARES)

Coastline Trust Co reduced its holdings in shares of Ares Management Co. (NYSE:ARES) by 0.3% during the fourth quarter, HoldingsChannel reports. 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 filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of ARES. Dimensional Fund Advisors LP lifted its stake in Ares Management by 4.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 451,947 shares of the asset manager’s stock valued at $80,014,000 after acquiring an additional 17,429 shares during the period. CANADA LIFE ASSURANCE Co raised its stake in Ares Management by 0.7% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 98,732 shares of the asset manager’s stock valued at $17,457,000 after buying an additional 641 shares during the last quarter. Canada Pension Plan Investment Board lifted its holdings in shares of Ares Management by 4.9% during the 4th quarter. Canada Pension Plan Investment Board now owns 1,637,462 shares of the asset manager’s stock valued at $289,880,000 after buying an additional 76,365 shares during the period. GKV Capital Management Co. Inc. purchased a new position in shares of Ares Management in the 4th quarter worth $177,000. Finally, NewEdge Advisors LLC grew its holdings in shares of Ares Management by 5.2% in the fourth quarter. NewEdge Advisors LLC now owns 34,827 shares of the asset manager’s stock worth $6,165,000 after acquiring an additional 1,706 shares during the period. 50.03% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Michael J. Arougheti sold 110,845 shares of Ares Management stock in a transaction that occurred on Monday, March 24th. The shares were 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 approximately $214,438,000. This trade represents a 7.34 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider R. Kipp Deveer sold 78,933 shares of the business’s stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $190.02, for a total transaction of $14,998,848.66. Following the sale, the insider now owns 1,150,000 shares in the company, valued at $218,523,000. This trade represents a 6.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 329,113 shares of company stock worth $54,409,915. Insiders own 1.20% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on the company. StockNews.com downgraded Ares Management from a “hold” rating to a “sell” rating in a research note on Wednesday, January 8th. Morgan Stanley lowered their target price on shares of Ares Management from $197.00 to $152.00 and set an “equal weight” rating for the company in a report on Monday, April 14th. Keefe, Bruyette & Woods raised shares of Ares Management from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $166.00 to $202.00 in a research report on Friday, December 20th. Wells Fargo & Company dropped their target price on Ares Management from $187.00 to $156.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 8th. Finally, Barclays decreased their price target on Ares Management from $217.00 to $142.00 and set an “overweight” rating for the company in a research note on Monday, April 7th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $165.00.

Ares Management Trading Up 1.3 %

Shares of ARES opened at $141.35 on Friday. Ares Management Co. has a 52-week low of $110.63 and a 52-week high of $200.49. The stock has a market cap of $44.58 billion, a PE ratio of 69.63, a price-to-earnings-growth ratio of 1.28 and a beta of 1.32. The firm’s fifty day moving average is $152.94 and its two-hundred day moving average is $168.34. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.53.

Ares Management (NYSE:ARES) last announced its quarterly earnings data 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%. Research analysts forecast that Ares Management Co. will post 5.28 earnings per share for the current fiscal year.

Ares Management Increases Dividend

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

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.