Brevan Howard Capital Management LP Takes $1 Million Position in Ares Management Co. (NYSE:ARES)

Brevan Howard Capital Management LP acquired a new position in Ares Management Co. (NYSE:ARES) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 5,665 shares of the asset manager’s stock, valued at approximately $1,003,000.

Several other large investors also recently added to or reduced their stakes in ARES. Vanguard Group Inc. grew its position in Ares Management by 5.1% in the fourth quarter. Vanguard Group Inc. now owns 18,807,718 shares of the asset manager’s stock worth $3,329,530,000 after acquiring an additional 907,757 shares in the last quarter. Capital World Investors boosted its holdings in shares of Ares Management by 2.1% in the 4th quarter. Capital World Investors now owns 10,753,779 shares of the asset manager’s stock worth $1,903,741,000 after purchasing an additional 223,919 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Ares Management by 0.4% during the 4th quarter. JPMorgan Chase & Co. now owns 8,277,879 shares of the asset manager’s stock valued at $1,465,433,000 after purchasing an additional 33,700 shares during the last quarter. FMR LLC raised its holdings in shares of Ares Management by 12.8% during the 4th quarter. FMR LLC now owns 7,109,070 shares of the asset manager’s stock valued at $1,258,519,000 after buying an additional 807,361 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its position in Ares Management by 1.3% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 5,126,442 shares of the asset manager’s stock worth $907,534,000 after buying an additional 66,671 shares during the last quarter. Institutional investors own 50.03% of the company’s stock.

Ares Management Trading Up 1.6 %

Shares of NYSE ARES opened at $162.18 on Thursday. Ares Management Co. has a 52-week low of $110.63 and a 52-week high of $200.49. The firm’s 50 day moving average price is $146.41 and its 200-day moving average price is $167.57. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.05 and a current ratio of 1.05. The company has a market cap of $51.15 billion, a PE ratio of 79.89, a P/E/G ratio of 1.28 and a beta of 1.40.

Ares Management (NYSE:ARES) last issued its earnings results on Monday, May 5th. The asset manager reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.94 by $0.15. The business had revenue of $951.96 million during the quarter, compared to analyst estimates of $914.00 million. Ares Management had a return on equity of 16.64% and a net margin of 11.35%. During the same quarter in the previous year, the firm earned $0.80 EPS. On average, equities research analysts expect that Ares Management Co. will post 5.28 EPS for the current fiscal year.

Ares Management Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be issued a $1.12 dividend. This represents a $4.48 annualized dividend and a yield of 2.76%. The ex-dividend date is Monday, June 16th. Ares Management’s dividend payout ratio is currently 263.53%.

Wall Street Analyst Weigh In

ARES has been the topic of several research reports. Oppenheimer raised shares of Ares Management from a “market perform” rating to an “outperform” rating and set a $159.00 price target on the stock in a research note on Wednesday, April 16th. Barclays lifted their target price on shares of Ares Management from $142.00 to $182.00 and gave the stock an “overweight” rating in a research report on Tuesday. Citizens Jmp upgraded shares of Ares Management from a “market perform” rating to an “outperform” rating and set a $165.00 price target for the company in a research report on Tuesday, April 8th. Morgan Stanley decreased their price objective on Ares Management from $197.00 to $152.00 and set an “equal weight” rating on the stock in a report on Monday, April 14th. Finally, TD Cowen reduced their price target on Ares Management from $216.00 to $161.00 and set a “buy” rating on the stock in a research report on Wednesday, April 9th. One research analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Ares Management has an average rating of “Moderate Buy” and a consensus price target of $170.53.

Insiders Place Their Bets

In other Ares Management news, Chairman Bennett Rosenthal sold 69,809 shares of the firm’s stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $161.01, for a total value of $11,239,947.09. Following the transaction, the chairman now directly owns 30,191 shares of the company’s stock, valued at approximately $4,861,052.91. This trade represents a 69.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Michael J. Arougheti sold 110,845 shares of the company’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 sale, the chief executive officer now directly owns 1,400,000 shares of the company’s stock, valued at $214,438,000. The trade was a 7.34 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 250,180 shares of company stock valued at $39,411,066. Company insiders own 0.52% 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.