Everhart Financial Group Inc. Raises Position in Ares Management Co. (NYSE:ARES)

Everhart Financial Group Inc. lifted its stake in shares of Ares Management Co. (NYSE:ARESFree Report) by 12.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,119 shares of the asset manager’s stock after buying an additional 338 shares during the period. Everhart Financial Group Inc.’s holdings in Ares Management were worth $371,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Harbor Investment Advisory LLC increased its position in shares of Ares Management by 17.6% during the third quarter. Harbor Investment Advisory LLC now owns 647 shares of the asset manager’s stock valued at $67,000 after acquiring an additional 97 shares during the last quarter. Rise Advisors LLC boosted its holdings in shares of Ares Management by 73.9% in the 4th quarter. Rise Advisors LLC now owns 240 shares of the asset manager’s stock worth $29,000 after buying an additional 102 shares during the last quarter. Whittier Trust Co. grew its position in Ares Management by 33.2% during the third quarter. Whittier Trust Co. now owns 429 shares of the asset manager’s stock valued at $44,000 after buying an additional 107 shares during the period. Capital Impact Advisors LLC raised its position in Ares Management by 4.1% in the fourth quarter. Capital Impact Advisors LLC now owns 3,500 shares of the asset manager’s stock worth $240,000 after acquiring an additional 139 shares during the period. Finally, RFG Advisory LLC grew its position in shares of Ares Management by 1.2% during the 4th quarter. RFG Advisory LLC now owns 11,783 shares of the asset manager’s stock valued at $1,002,000 after acquiring an additional 141 shares during the period. Institutional investors own 50.03% of the company’s stock.

Insiders Place Their Bets

In other Ares Management news, Chairman Antony P. Ressler sold 15,304 shares of the business’s stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $134.58, for a total value of $2,059,612.32. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Ares Management news, Chairman Antony P. Ressler sold 15,304 shares of Ares Management stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $134.58, for a total value of $2,059,612.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider R. Kipp Deveer sold 80,637 shares of the company’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $135.25, for a total transaction of $10,906,154.25. Following the transaction, the insider now owns 1,116,676 shares in the company, valued at approximately $151,030,429. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 471,060 shares of company stock worth $62,975,619. 47.34% of the stock is currently owned by company insiders.

Ares Management Price Performance

ARES opened at $133.88 on Friday. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.02 and a quick ratio of 1.02. Ares Management Co. has a 1 year low of $77.50 and a 1 year high of $139.48. The stock’s 50 day simple moving average is $129.13 and its 200 day simple moving average is $115.84. The firm has a market cap of $41.45 billion, a price-to-earnings ratio of 56.02, a PEG ratio of 1.00 and a beta of 1.18.

Ares Management (NYSE:ARESGet Free Report) last issued its quarterly earnings data on Thursday, February 8th. The asset manager reported $1.21 EPS for the quarter, beating the consensus estimate of $1.10 by $0.11. Ares Management had a net margin of 13.06% and a return on equity of 21.01%. The firm had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $862.71 million. During the same period in the prior year, the firm posted $1.21 earnings per share. As a group, analysts predict that Ares Management Co. will post 4.6 earnings per share for the current year.

Ares Management Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 29th. Stockholders of record on Friday, March 15th will be given a $0.93 dividend. The ex-dividend date of this dividend is Thursday, March 14th. This is an increase from Ares Management’s previous quarterly dividend of $0.77. This represents a $3.72 dividend on an annualized basis and a dividend yield of 2.78%. Ares Management’s dividend payout ratio is currently 155.65%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. JPMorgan Chase & Co. boosted their target price on Ares Management from $119.00 to $141.00 and gave the company an “overweight” rating in a research note on Friday, February 9th. Wells Fargo & Company lifted their price target on Ares Management from $112.00 to $126.00 and gave the company an “equal weight” rating in a research report on Friday, February 9th. Barclays lifted their target price on Ares Management from $146.00 to $157.00 and gave the company an “overweight” rating in a report on Monday, February 12th. Jefferies Financial Group downgraded shares of Ares Management from a “buy” rating to a “hold” rating and set a $122.00 price target for the company. in a report on Tuesday, January 9th. Finally, Royal Bank of Canada raised their price target on Ares Management from $135.00 to $145.00 and gave the company an “outperform” rating in a report on Monday, February 12th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $123.45.

Check Out Our Latest Report on Ares Management

Ares Management Company Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Ares Management (NYSE:ARES)

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