Capital Investment Counsel LLC Lowers Holdings in Ares Management Co. (NYSE:ARES)

Capital Investment Counsel LLC reduced its holdings in shares of Ares Management Co. (NYSE:ARES) by 2.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 68,794 shares of the asset manager’s stock after selling 1,778 shares during the period. Ares Management comprises 2.0% of Capital Investment Counsel LLC’s investment portfolio, making the stock its 11th largest holding. Capital Investment Counsel LLC’s holdings in Ares Management were worth $12,179,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Versant Capital Management Inc grew its position in shares of Ares Management by 67.0% during the fourth quarter. Versant Capital Management Inc now owns 162 shares of the asset manager’s stock worth $29,000 after buying an additional 65 shares in the last quarter. GAMMA Investing LLC grew its holdings in Ares Management by 53.4% during the 4th quarter. GAMMA Investing LLC now owns 227 shares of the asset manager’s stock worth $40,000 after acquiring an additional 79 shares in the last quarter. Point72 DIFC Ltd purchased a new stake in shares of Ares Management in the 3rd quarter valued at approximately $36,000. Eastern Bank acquired a new stake in shares of Ares Management in the 3rd quarter valued at $39,000. Finally, Whittier Trust Co. of Nevada Inc. lifted its position in shares of Ares Management by 21.0% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 559 shares of the asset manager’s stock worth $87,000 after purchasing an additional 97 shares during the last quarter. 50.03% of the stock is currently owned by institutional investors and hedge funds.

Ares Management Price Performance

Shares of NYSE:ARES opened at $193.51 on Wednesday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.05 and a current ratio of 1.05. Ares Management Co. has a one year low of $119.76 and a one year high of $197.53. The company has a 50-day simple moving average of $180.21 and a 200-day simple moving average of $162.87. The stock has a market capitalization of $60.58 billion, a price-to-earnings ratio of 89.18, a PEG ratio of 1.46 and a beta of 1.18.

Ares Management (NYSE:ARES) last posted its quarterly earnings data on Friday, November 1st. The asset manager reported $0.95 EPS for the quarter, beating the consensus estimate of $0.94 by $0.01. Ares Management had a return on equity of 19.89% and a net margin of 12.51%. The firm had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $833.58 million. During the same period in the prior year, the business earned $0.83 EPS. On average, analysts predict that Ares Management Co. will post 4.05 EPS for the current year.

Ares Management Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th were given a $0.93 dividend. The ex-dividend date was Tuesday, December 17th. This represents a $3.72 dividend on an annualized basis and a yield of 1.92%. Ares Management’s dividend payout ratio (DPR) is 171.43%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft raised their price target on Ares Management from $146.00 to $150.00 and gave the company a “hold” rating in a research note on Monday, November 11th. Royal Bank of Canada boosted their target price on Ares Management from $170.00 to $185.00 and gave the stock an “outperform” rating in a research note on Monday, November 4th. Wells Fargo & Company dropped their price target on shares of Ares Management from $212.00 to $207.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 14th. JPMorgan Chase & Co. reduced their price objective on shares of Ares Management from $176.00 to $174.00 and set an “overweight” rating for the company in a research report on Tuesday, November 5th. Finally, Morgan Stanley increased their target price on shares of Ares Management from $136.00 to $162.00 and gave the company an “equal weight” rating in a research report on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, Ares Management has an average rating of “Moderate Buy” and a consensus target price of $176.08.

Insider Buying and Selling at Ares Management

In related news, insider Ryan Berry sold 18,329 shares of Ares Management stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $175.18, for a total value of $3,210,874.22. Following the sale, the insider now directly owns 254,885 shares in the company, valued at $44,650,754.30. The trade was a 6.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Michael J. Arougheti sold 20,096 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $167.44, for a total value of $3,364,874.24. Following the completion of the transaction, the chief executive officer now owns 229,904 shares of the company’s stock, valued at $38,495,125.76. The trade was a 8.04 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 574,167 shares of company stock valued at $99,996,647. 41.89% of the stock is owned by company insiders.

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.