UMB Bank N A MO Buys New Position in Ares Management Co. (NYSE:ARES)

UMB Bank N A MO bought a new stake in shares of Ares Management Co. (NYSE:ARESGet Rating) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 909 shares of the asset manager’s stock, valued at approximately $74,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Wellington Management Group LLP grew its position in Ares Management by 10.1% during the third quarter. Wellington Management Group LLP now owns 16,801,355 shares of the asset manager’s stock valued at $1,240,444,000 after buying an additional 1,548,154 shares during the period. BlackRock Inc. boosted its position in shares of Ares Management by 13.8% in the third quarter. BlackRock Inc. now owns 5,878,288 shares of the asset manager’s stock worth $433,993,000 after purchasing an additional 711,626 shares during the period. William Blair Investment Management LLC boosted its position in shares of Ares Management by 4.7% in the third quarter. William Blair Investment Management LLC now owns 3,436,372 shares of the asset manager’s stock worth $253,707,000 after purchasing an additional 153,518 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Ares Management by 1.2% in the third quarter. Bank of New York Mellon Corp now owns 2,304,426 shares of the asset manager’s stock worth $170,136,000 after purchasing an additional 26,955 shares during the period. Finally, Bank of America Corp DE boosted its position in shares of Ares Management by 24.7% in the fourth quarter. Bank of America Corp DE now owns 1,900,948 shares of the asset manager’s stock worth $154,491,000 after purchasing an additional 376,177 shares during the period. Institutional investors own 47.42% of the company’s stock.

In other news, CEO Michael J. Arougheti sold 26,879 shares of the stock in a transaction on Monday, April 4th. The shares were sold at an average price of $85.06, for a total value of $2,286,327.74. Following the sale, the chief executive officer now owns 990,609 shares of the company’s stock, valued at $84,261,201.54. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Ares Capital Management Ii Llc bought 3,000,000 shares of Ares Management stock in a transaction dated Friday, April 1st. The stock was purchased at an average cost of $25.00 per share, for a total transaction of $75,000,000.00. The disclosure for this purchase can be found here. 49.34% of the stock is owned by corporate insiders.

ARES has been the subject of a number of recent analyst reports. Wells Fargo & Company dropped their price target on shares of Ares Management from $94.00 to $92.00 and set an “overweight” rating for the company in a research report on Tuesday, April 19th. BMO Capital Markets upped their price target on shares of Ares Management from $90.00 to $97.00 and gave the stock an “outperform” rating in a research report on Monday, February 14th. Morgan Stanley dropped their price target on shares of Ares Management from $93.00 to $90.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 20th. Piper Sandler began coverage on shares of Ares Management in a research report on Tuesday, January 25th. They issued an “overweight” rating and a $97.00 price target for the company. Finally, Zacks Investment Research downgraded shares of Ares Management from a “buy” rating to a “hold” rating in a report on Tuesday, March 29th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $94.56.

ARES stock opened at $68.53 on Friday. The company has a market capitalization of $19.87 billion, a PE ratio of 33.59, a price-to-earnings-growth ratio of 0.75 and a beta of 1.06. The company’s fifty day moving average price is $74.95 and its 200-day moving average price is $78.18. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.16 and a current ratio of 0.12. Ares Management Co. has a one year low of $50.46 and a one year high of $90.08.

Ares Management (NYSE:ARESGet Rating) last released its quarterly earnings results on Thursday, April 28th. The asset manager reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.02). The business had revenue of $715.00 million for the quarter, compared to analysts’ expectations of $605.10 million. Ares Management had a net margin of 9.28% and a return on equity of 14.53%. Ares Management’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.46 EPS. On average, research analysts predict that Ares Management Co. will post 3.24 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 30th. Investors of record on Thursday, June 16th will be paid a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a yield of 3.56%. The ex-dividend date is Wednesday, June 15th. Ares Management’s payout ratio is 119.61%.

About Ares Management (Get Rating)

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

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

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