Ares Management Co. (NYSE:ARES) Shares Sold by Jackson Wealth Management LLC

Jackson Wealth Management LLC reduced its stake in shares of Ares Management Co. (NYSE:ARES) by 0.5% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 43,296 shares of the asset manager’s stock after selling 234 shares during the quarter. Jackson Wealth Management LLC’s holdings in Ares Management were worth $7,665,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. lifted its holdings in shares of Ares Management by 9.0% in the third quarter. JPMorgan Chase & Co. now owns 8,244,179 shares of the asset manager’s stock valued at $1,284,773,000 after purchasing an additional 679,462 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Ares Management by 31.3% in the third quarter. Principal Financial Group Inc. now owns 2,849,737 shares of the asset manager’s stock valued at $444,103,000 after purchasing an additional 678,549 shares in the last quarter. Eagle Asset Management Inc. lifted its holdings in shares of Ares Management by 26.4% in the third quarter. Eagle Asset Management Inc. now owns 1,344,383 shares of the asset manager’s stock valued at $229,056,000 after purchasing an additional 280,656 shares in the last quarter. State Street Corp lifted its stake in shares of Ares Management by 5.1% during the third quarter. State Street Corp now owns 3,826,479 shares of the asset manager’s stock valued at $596,318,000 after buying an additional 187,184 shares during the period. Finally, Geode Capital Management LLC boosted its position in Ares Management by 6.3% during the third quarter. Geode Capital Management LLC now owns 2,950,451 shares of the asset manager’s stock worth $459,580,000 after acquiring an additional 175,627 shares during the last quarter. 50.03% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently issued reports on ARES shares. Wells Fargo & Company decreased their target price on shares of Ares Management from $212.00 to $207.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 14th. Royal Bank of Canada lifted their price target on shares of Ares Management from $170.00 to $185.00 and gave the company an “outperform” rating in a report on Monday, November 4th. Morgan Stanley lifted their price target on shares of Ares Management from $136.00 to $162.00 and gave the company an “equal weight” rating in a report on Thursday, October 10th. StockNews.com lowered shares of Ares Management from a “hold” rating to a “sell” rating in a report on Wednesday, January 8th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of Ares Management from $146.00 to $150.00 and gave the company a “hold” rating in a report on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $176.08.

Insider Transactions at Ares Management

In other news, insider Ryan Berry sold 14,357 shares of Ares Management stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $180.16, for a total value of $2,586,557.12. Following the completion of the transaction, the insider now directly owns 233,214 shares of the company’s stock, valued at approximately $42,015,834.24. The trade was a 5.80 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Chairman Bennett Rosenthal sold 15,763 shares of Ares Management stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $167.24, for a total transaction of $2,636,204.12. Following the completion of the transaction, the chairman now directly owns 214,189 shares of the company’s stock, valued at $35,820,968.36. This trade represents a 6.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 555,838 shares of company stock valued at $96,785,773. Insiders own 41.89% of the company’s stock.

Ares Management Stock Performance

Ares Management stock opened at $195.70 on Wednesday. Ares Management Co. has a 12-month low of $123.85 and a 12-month high of $200.49. The company has a market capitalization of $61.27 billion, a price-to-earnings ratio of 90.19, a price-to-earnings-growth ratio of 1.50 and a beta of 1.18. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.05 and a quick ratio of 1.05. The firm’s fifty day moving average price is $182.44 and its 200 day moving average price is $164.65.

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.