Fifth Third Wealth Advisors LLC Has $642,000 Stock Position in Ares Management Co. (NYSE:ARES)

Fifth Third Wealth Advisors LLC cut its holdings in shares of Ares Management Co. (NYSE:ARES) by 6.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,625 shares of the asset manager’s stock after selling 255 shares during the quarter. Fifth Third Wealth Advisors LLC’s holdings in Ares Management were worth $642,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of ARES. Private Advisor Group LLC grew its holdings in shares of Ares Management by 59.3% during the 2nd quarter. Private Advisor Group LLC now owns 4,171 shares of the asset manager’s stock valued at $556,000 after acquiring an additional 1,553 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Ares Management by 5.2% in the second quarter. Dimensional Fund Advisors LP now owns 416,585 shares of the asset manager’s stock valued at $55,529,000 after purchasing an additional 20,724 shares in the last quarter. Argent Trust Co grew its stake in Ares Management by 6.9% in the second quarter. Argent Trust Co now owns 18,159 shares of the asset manager’s stock valued at $2,420,000 after purchasing an additional 1,168 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. raised its stake in shares of Ares Management by 5.2% during the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 2,430 shares of the asset manager’s stock worth $324,000 after purchasing an additional 120 shares in the last quarter. Finally, Amalgamated Bank lifted its holdings in shares of Ares Management by 9.1% during the 2nd quarter. Amalgamated Bank now owns 12,050 shares of the asset manager’s stock valued at $1,606,000 after buying an additional 1,008 shares during the last quarter. Hedge funds and other institutional investors own 50.03% of the company’s stock.

Insider Buying and Selling

In related news, insider David B. Kaplan sold 19,775 shares of the company’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $167.45, for a total value of $3,311,323.75. Following the completion of the transaction, the insider now directly owns 230,225 shares in the company, valued at approximately $38,551,176.25. This represents a 7.91 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Ryan Berry sold 14,357 shares of Ares Management stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $180.16, for a total transaction of $2,586,557.12. Following the sale, the insider now owns 233,214 shares in the company, valued at $42,015,834.24. This represents a 5.80 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 574,167 shares of company stock valued at $99,996,647 over the last three months. 41.89% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

ARES has been the topic of a number of research reports. JPMorgan Chase & Co. dropped their price objective on Ares Management from $176.00 to $174.00 and set an “overweight” rating on the stock in a report on Tuesday, November 5th. Morgan Stanley increased their price target on shares of Ares Management from $136.00 to $162.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 10th. Barclays lifted their price objective on shares of Ares Management from $155.00 to $174.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. TD Cowen increased their target price on shares of Ares Management from $184.00 to $187.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Finally, The Goldman Sachs Group boosted their price target on Ares Management from $145.00 to $160.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $171.92.

Ares Management Stock Performance

Shares of NYSE ARES opened at $188.15 on Friday. Ares Management Co. has a 12 month low of $112.83 and a 12 month high of $190.15. The company has a market cap of $58.90 billion, a P/E ratio of 86.71, a P/E/G ratio of 1.33 and a beta of 1.18. The business’s 50 day moving average is $176.37 and its two-hundred day moving average is $159.59. 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 earnings results on Friday, November 1st. The asset manager reported $0.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.94 by $0.01. Ares Management had a net margin of 12.51% and a return on equity of 19.89%. The business had revenue of $1.13 billion for the quarter, compared to analyst estimates of $833.58 million. During the same quarter in the previous year, the firm posted $0.83 earnings per share. On average, equities analysts expect that Ares Management Co. will post 4.06 EPS for the current year.

Ares Management Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th were paid a $0.93 dividend. This represents a $3.72 annualized dividend and a dividend yield of 1.98%. The ex-dividend date was Tuesday, December 17th. Ares Management’s payout ratio is presently 171.43%.

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.