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

Fullcircle Wealth LLC purchased a new stake in shares of Ares Management Co. (NYSE:ARES) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 2,258 shares of the asset manager’s stock, valued at approximately $416,000.

Other institutional investors have also recently bought and sold shares of the company. Transce3nd LLC bought a new stake in Ares Management in the 4th quarter valued at $29,000. Johnson Financial Group Inc. increased its holdings in shares of Ares Management by 104.8% during the fourth quarter. Johnson Financial Group Inc. now owns 170 shares of the asset manager’s stock worth $30,000 after buying an additional 87 shares in the last quarter. Noble Wealth Management PBC acquired a new stake in shares of Ares Management in the fourth quarter valued at $36,000. GAMMA Investing LLC lifted its position in shares of Ares Management by 53.4% during the fourth quarter. GAMMA Investing LLC now owns 227 shares of the asset manager’s stock worth $40,000 after purchasing an additional 79 shares in the last quarter. Finally, Avalon Trust Co bought a new stake in shares of Ares Management during the fourth quarter worth $53,000. Institutional investors own 50.03% of the company’s stock.

Ares Management Stock Up 2.4 %

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

Ares Management (NYSE:ARES) last posted its quarterly earnings data on Monday, May 5th. The asset manager reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.94 by $0.15. The company had revenue of $951.96 million during 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 quarter last year, the company earned $0.80 earnings per share. As a group, equities research analysts predict that Ares Management Co. will post 5.28 earnings per share for the current year.

Ares Management Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders 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 dividend yield of 2.70%. The ex-dividend date is Monday, June 16th. Ares Management’s dividend payout ratio (DPR) is presently 263.53%.

Insider Buying and Selling at Ares Management

In related news, Director Ashish Bhutani purchased 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 11th. The stock was bought at an average cost of $141.33 per share, with a total value of $1,413,300.00. Following the completion of the purchase, the director now directly owns 22,905 shares in the company, valued at approximately $3,237,163.65. This represents a 77.49 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 in the company, valued at $214,438,000. This represents a 7.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 250,180 shares of company stock worth $39,411,066. 0.52% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several analysts have commented on ARES shares. Bank of America dropped their target price on shares of Ares Management from $221.00 to $201.00 and set a “buy” rating for the company in a research report on Friday, April 4th. Barclays upped their target price on shares of Ares Management from $142.00 to $182.00 and gave the stock an “overweight” rating in a research note on Tuesday. Citizens Jmp raised shares of Ares Management from a “market perform” rating to an “outperform” rating and set a $165.00 target price for the company in a research report on Tuesday, April 8th. Morgan Stanley dropped their price target on shares of Ares Management from $197.00 to $152.00 and set an “equal weight” rating on the stock in a research report on Monday, April 14th. Finally, Wolfe Research set a $193.00 target price on Ares Management and gave the stock an “outperform” rating in a research note on Tuesday. One research analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $171.71.

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.