Genesee Capital Advisors LLC Buys 111 Shares of Ares Management Co. (NYSE:ARES)

Genesee Capital Advisors LLC raised its stake in shares of Ares Management Co. (NYSE:ARES) by 1.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,049 shares of the asset manager’s stock after purchasing an additional 111 shares during the quarter. Genesee Capital Advisors LLC’s holdings in Ares Management were worth $1,779,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of ARES. Versant Capital Management Inc raised its stake 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 acquiring an additional 65 shares in the last quarter. Point72 DIFC Ltd purchased a new position in shares of Ares Management during the third quarter worth approximately $36,000. Eastern Bank purchased a new position in shares of Ares Management during the third quarter worth approximately $39,000. GAMMA Investing LLC raised its stake 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 acquiring an additional 79 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. raised its stake in shares of Ares Management by 21.0% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 559 shares of the asset manager’s stock worth $87,000 after acquiring an additional 97 shares in the last quarter. 50.03% of the stock is currently owned by institutional investors.

Insider Activity

In related news, insider Ryan Berry sold 18,329 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $175.18, for a total transaction of $3,210,874.22. Following the sale, the insider now directly owns 254,885 shares of the company’s stock, valued at approximately $44,650,754.30. This represents a 6.71 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider R. Kipp Deveer sold 115,838 shares of the stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $177.83, for a total transaction of $20,599,471.54. Following the sale, the insider now directly owns 1,259,162 shares in the company, valued at $223,916,778.46. This trade represents a 8.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 574,167 shares of company stock worth $99,996,647. Corporate insiders own 41.89% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. 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 note on Tuesday, January 14th. Barclays reaffirmed an “overweight” rating and issued a $224.00 target price on shares of Ares Management in a research note on Monday. UBS Group lifted their target price on shares of Ares Management from $158.00 to $195.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Ares Management from $146.00 to $150.00 and gave the stock a “hold” rating in a research note on Monday, November 11th. Finally, Morgan Stanley lifted their target price on shares of Ares Management from $136.00 to $162.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 10th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $176.08.

Ares Management Stock Performance

Shares of ARES stock opened at $193.51 on Wednesday. Ares Management Co. has a 12 month low of $119.76 and a 12 month high of $197.53. The stock has a market cap of $60.58 billion, a PE ratio of 89.18, a price-to-earnings-growth ratio of 1.46 and a beta of 1.18. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.53. The company’s fifty day moving average price is $180.21 and its 200-day moving average price is $162.87.

Ares Management (NYSE:ARES) last announced its earnings results on Friday, November 1st. The asset manager reported $0.95 EPS for the quarter, beating analysts’ consensus estimates of $0.94 by $0.01. Ares Management had a net margin of 12.51% and a return on equity of 19.89%. The firm had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $833.58 million. During the same quarter in the previous year, the business posted $0.83 EPS. On average, equities analysts expect that Ares Management Co. will post 4.05 EPS for the current fiscal year.

Ares Management Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th were issued a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a dividend yield of 1.92%. The ex-dividend date of this dividend was Tuesday, December 17th. Ares Management’s dividend payout ratio (DPR) is presently 171.43%.

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.