Fullcircle Wealth LLC Invests $416,000 in Ares Management Co. (NYSE:ARES)

Fullcircle Wealth LLC acquired a new stake in shares of Ares Management Co. (NYSE:ARES) in the fourth quarter, HoldingsChannel.com reports. The fund acquired 2,258 shares of the asset manager’s stock, valued at approximately $416,000.

Other large investors have also recently made changes to their positions in the company. Transce3nd LLC bought a new stake in Ares Management during the fourth quarter worth approximately $29,000. Johnson Financial Group Inc. grew its stake in Ares Management by 104.8% during the 4th quarter. Johnson Financial Group Inc. now owns 170 shares of the asset manager’s stock valued at $30,000 after purchasing an additional 87 shares during the last quarter. Noble Wealth Management PBC purchased a new position in Ares Management during the fourth quarter valued at approximately $36,000. GAMMA Investing LLC raised its position in shares of Ares Management by 53.4% in the fourth quarter. GAMMA Investing LLC now owns 227 shares of the asset manager’s stock worth $40,000 after acquiring an additional 79 shares during the period. Finally, Avalon Trust Co purchased a new position in Ares Management during the fourth quarter worth approximately $53,000. 50.03% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, insider David B. Kaplan sold 69,526 shares of the stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $160.99, for a total value of $11,192,990.74. Following the completion of the transaction, the insider now directly owns 30,474 shares of the company’s stock, valued at $4,906,009.26. This represents a 69.53 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Michael J. Arougheti sold 110,845 shares of the company’s stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $153.17, for a total transaction of $16,978,128.65. Following the completion of 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. Insiders have sold 250,180 shares of company stock worth $39,411,066 over the last ninety days. 0.52% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. JMP Securities boosted their price objective on Ares Management from $165.00 to $185.00 and gave the stock a “market outperform” rating in a research note on Thursday. The Goldman Sachs Group lowered their target price on shares of Ares Management from $188.00 to $166.00 and set a “buy” rating on the stock in a research note on Thursday, April 3rd. Citizens Jmp raised shares of Ares Management from a “market perform” rating to an “outperform” rating and set a $165.00 price target on the stock in a research note on Tuesday, April 8th. Wolfe Research set a $193.00 price objective on shares of Ares Management and gave the company an “outperform” rating in a report on Tuesday. Finally, Bank of America lowered their target price on Ares Management from $221.00 to $201.00 and set a “buy” rating on the stock in a report on Friday, April 4th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, Ares Management presently has a consensus rating of “Moderate Buy” and an average price target of $171.71.

Ares Management Price Performance

Shares of ARES stock opened at $165.94 on Friday. Ares Management Co. has a twelve month low of $110.63 and a twelve month high of $200.49. The company has a market capitalization of $52.34 billion, a PE ratio of 81.75, a price-to-earnings-growth ratio of 1.28 and a beta of 1.40. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.53. The firm has a fifty day simple moving average of $146.33 and a 200-day simple moving average of $167.55.

Ares Management (NYSE:ARES) last announced its earnings results on Monday, May 5th. The asset manager reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.94 by $0.15. The company had revenue of $951.96 million for 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 period in the prior year, the company posted $0.80 EPS. Equities research analysts anticipate that Ares Management Co. will post 5.28 earnings per share for the current fiscal year.

Ares Management Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be paid a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a yield of 2.70%. The ex-dividend date of this dividend is Monday, June 16th. Ares Management’s dividend payout ratio (DPR) is presently 263.53%.

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.