Sherbrooke Park Advisers LLC Buys New Stake in Ares Management Co. (NYSE:ARES)

Sherbrooke Park Advisers LLC bought a new stake in Ares Management Co. (NYSE:ARES) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 1,168 shares of the asset manager’s stock, valued at approximately $207,000.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Transce3nd LLC acquired a new position in shares of Ares Management during the fourth quarter worth $29,000. Johnson Financial Group Inc. raised its holdings in shares of Ares Management by 104.8% in the fourth quarter. Johnson Financial Group Inc. now owns 170 shares of the asset manager’s stock valued at $30,000 after buying an additional 87 shares during the last quarter. Noble Wealth Management PBC purchased a new stake in shares of Ares Management in the fourth quarter valued at about $36,000. Avalon Trust Co purchased a new stake in shares of Ares Management in the fourth quarter valued at about $53,000. Finally, Private Trust Co. NA raised its holdings in shares of Ares Management by 43.0% in the fourth quarter. Private Trust Co. NA now owns 336 shares of the asset manager’s stock valued at $59,000 after buying an additional 101 shares during the last quarter. Institutional investors and hedge funds own 50.03% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on ARES. Wolfe Research set a $193.00 price target on shares of Ares Management and gave the stock an “outperform” rating in a report on Tuesday, May 6th. Barclays increased their target price on shares of Ares Management from $142.00 to $182.00 and gave the company an “overweight” rating in a report on Tuesday, May 6th. Morgan Stanley dropped 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. TD Cowen dropped their target price on shares of Ares Management from $216.00 to $161.00 and set a “buy” rating for the company in a report on Wednesday, April 9th. Finally, The Goldman Sachs Group lowered their price target on shares of Ares Management from $188.00 to $166.00 and set a “buy” rating on the stock in a research report on Thursday, April 3rd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $174.50.

Insiders Place Their Bets

In other Ares Management news, CEO Michael J. Arougheti sold 182,108 shares of the company’s stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $170.07, for a total value of $30,971,107.56. Following the completion of the transaction, the chief executive officer now owns 350,684 shares in the company, valued at approximately $59,640,827.88. This represents a 34.18% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Ashish Bhutani bought 10,000 shares of the firm’s stock in a transaction on Tuesday, March 11th. The stock was purchased at an average price of $141.33 per share, with a total value of $1,413,300.00. Following the transaction, the director now owns 22,905 shares in the company, valued at $3,237,163.65. The trade was a 77.49% increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 685,180 shares of company stock worth $113,177,573. Insiders own 36.86% of the company’s stock.

Ares Management Price Performance

ARES opened at $165.98 on Wednesday. The company has a 50-day moving average of $149.49 and a 200-day moving average of $167.63. The company has a market capitalization of $54.21 billion, a P/E ratio of 81.76, a PEG ratio of 1.28 and a beta of 1.40. Ares Management Co. has a 1-year low of $110.63 and a 1-year high of $200.49. 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 (NYSE:ARES) last announced its quarterly earnings data on Monday, May 5th. The asset manager reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.94 by $0.15. Ares Management had a net margin of 11.35% and a return on equity of 16.64%. The business had revenue of $951.96 million during the quarter, compared to the consensus estimate of $914.00 million. During the same quarter in the prior year, the firm earned $0.80 EPS. Equities analysts expect that Ares Management Co. will post 5.28 EPS for the current fiscal year.

Ares Management Dividend Announcement

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