Nuveen Asset Management LLC Purchases 7,451 Shares of Ares Management Co. (NYSE:ARES)

Nuveen Asset Management LLC boosted its position in Ares Management Co. (NYSE:ARES) by 2.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 385,303 shares of the asset manager’s stock after acquiring an additional 7,451 shares during the quarter. Nuveen Asset Management LLC owned 0.12% of Ares Management worth $68,210,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in ARES. Transce3nd LLC bought a new position in Ares Management in the fourth quarter valued at $29,000. Johnson Financial Group Inc. increased its stake in 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 acquiring an additional 87 shares during the last quarter. Noble Wealth Management PBC bought a new position in Ares Management in the fourth quarter valued at $36,000. Avalon Trust Co bought a new position in Ares Management in the fourth quarter valued at $53,000. Finally, Private Trust Co. NA increased its stake in 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 acquiring an additional 101 shares during the last quarter. Institutional investors own 50.03% of the company’s stock.

Insider Buying and Selling

In related news, Chairman Bennett Rosenthal sold 69,809 shares of the firm’s stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $161.01, for a total value of $11,239,947.09. Following the sale, the chairman now owns 30,191 shares in the company, valued at approximately $4,861,052.91. This trade represents a 69.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider David B. Kaplan sold 69,526 shares of the firm’s stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $160.99, for a total transaction of $11,192,990.74. Following the completion of the sale, the insider now owns 30,474 shares in the company, valued at $4,906,009.26. This represents a 69.53% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 250,180 shares of company stock worth $39,411,066. 36.86% of the stock is owned by insiders.

Ares Management Stock Performance

Ares Management stock opened at $170.33 on Friday. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.53. Ares Management Co. has a 1-year low of $110.63 and a 1-year high of $200.49. The firm has a 50-day moving average of $148.51 and a 200-day moving average of $167.60. The firm has a market cap of $55.63 billion, a P/E ratio of 83.91, a P/E/G ratio of 1.28 and a beta of 1.40.

Ares Management (NYSE:ARES) last announced its earnings results 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. The business had revenue of $951.96 million during the quarter, compared to the consensus estimate of $914.00 million. Ares Management had a net margin of 11.35% and a return on equity of 16.64%. During the same quarter last year, the firm earned $0.80 earnings per share. Sell-side analysts expect that Ares Management Co. will post 5.28 EPS for the current year.

Ares Management Dividend Announcement

The company also recently declared 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 annualized dividend and a dividend yield of 2.63%. The ex-dividend date is Monday, June 16th. Ares Management’s dividend payout ratio (DPR) is currently 263.53%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on ARES shares. TD Cowen reduced their target price on Ares Management from $216.00 to $161.00 and set a “buy” rating on the stock in a research note on Wednesday, April 9th. Oppenheimer lowered shares of Ares Management from an “outperform” rating to a “market perform” rating in a research report on Thursday. Wolfe Research set a $193.00 price target on shares of Ares Management and gave the company an “outperform” rating in a research report on Tuesday, May 6th. Wells Fargo & Company upped their price target on shares of Ares Management from $156.00 to $182.00 and gave the company an “overweight” rating in a research report on Tuesday, May 6th. Finally, Citizens Jmp upgraded shares of Ares Management from a “market perform” rating to an “outperform” rating and set a $165.00 price target for the company in a research report on Tuesday, April 8th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, Ares Management presently has an average rating of “Moderate Buy” and a consensus target price of $174.50.

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.