Chase Investment Counsel Corp Sells 484 Shares of Ares Management Co. (NYSE:ARES)

Chase Investment Counsel Corp decreased its holdings in Ares Management Co. (NYSE:ARES) by 1.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 32,553 shares of the asset manager’s stock after selling 484 shares during the quarter. Ares Management accounts for approximately 1.7% of Chase Investment Counsel Corp’s investment portfolio, making the stock its 16th biggest holding. Chase Investment Counsel Corp’s holdings in Ares Management were worth $3,871,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Artemis Investment Management LLP raised its holdings in shares of Ares Management by 24.5% in the 4th quarter. Artemis Investment Management LLP now owns 149,920 shares of the asset manager’s stock worth $17,829,000 after purchasing an additional 29,457 shares during the period. Triasima Portfolio Management inc. raised its holdings in shares of Ares Management by 31.4% in the 4th quarter. Triasima Portfolio Management inc. now owns 66,950 shares of the asset manager’s stock worth $7,962,000 after purchasing an additional 16,010 shares during the period. Nordea Investment Management AB raised its holdings in shares of Ares Management by 2.0% in the 3rd quarter. Nordea Investment Management AB now owns 10,512 shares of the asset manager’s stock worth $1,109,000 after purchasing an additional 202 shares during the period. Genesee Capital Advisors LLC bought a new stake in shares of Ares Management in the 4th quarter worth approximately $1,268,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Ares Management by 178.6% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 32,339 shares of the asset manager’s stock worth $3,846,000 after purchasing an additional 20,730 shares during the period. Institutional investors own 50.03% of the company’s stock.

Insider Activity at Ares Management

In related news, insider R. Kipp Deveer sold 82,796 shares of the business’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $136.47, for a total transaction of $11,299,170.12. Following the transaction, the insider now owns 1,245,729 shares in the company, valued at $170,004,636.63. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Ares Management news, insider R. Kipp Deveer sold 82,796 shares of the company’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $136.47, for a total value of $11,299,170.12. Following the sale, the insider now owns 1,245,729 shares in the company, valued at $170,004,636.63. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Antony P. Ressler sold 38,915 shares of the stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $132.46, for a total transaction of $5,154,680.90. Following the sale, the chairman now owns 96,085 shares in the company, valued at approximately $12,727,419.10. The disclosure for this sale can be found here. Insiders have sold 1,494,440 shares of company stock worth $199,049,946 over the last 90 days. 41.89% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Barclays reduced their price objective on shares of Ares Management from $157.00 to $153.00 and set an “overweight” rating for the company in a research note on Monday, April 8th. JMP Securities reiterated a “market perform” rating on shares of Ares Management in a research note on Tuesday, April 9th. Wells Fargo & Company lifted their price objective on shares of Ares Management from $112.00 to $126.00 and gave the company an “equal weight” rating in a research note on Friday, February 9th. Jefferies Financial Group lowered shares of Ares Management from a “buy” rating to a “hold” rating and set a $122.00 price objective for the company. in a research note on Tuesday, January 9th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Ares Management from $119.00 to $141.00 and gave the company an “overweight” rating in a research report on Friday, February 9th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $126.17.

Ares Management Price Performance

NYSE:ARES traded up $0.70 during midday trading on Monday, hitting $134.32. The company had a trading volume of 237,132 shares, compared to its average volume of 1,002,582. Ares Management Co. has a 52-week low of $77.97 and a 52-week high of $139.48. The stock’s fifty day moving average price is $133.07 and its 200-day moving average price is $120.89. The company has a market capitalization of $41.59 billion, a PE ratio of 55.91, a P/E/G ratio of 1.01 and a beta of 1.17. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.69.

Ares Management (NYSE:ARES) last posted its quarterly earnings results on Thursday, February 8th. The asset manager reported $1.21 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.11. The business had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $862.71 million. Ares Management had a net margin of 13.06% and a return on equity of 21.01%. During the same period in the previous year, the firm posted $1.21 earnings per share. As a group, research analysts expect that Ares Management Co. will post 4.47 earnings per share for the current year.

Ares Management Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were given a dividend of $0.93 per share. The ex-dividend date was Thursday, March 14th. This represents a $3.72 annualized dividend and a dividend yield of 2.77%. This is a boost from Ares Management’s previous quarterly dividend of $0.77. Ares Management’s payout ratio is currently 155.65%.

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.