Blue Barn Wealth LLC Acquires Shares of 1,988 Ares Management Co. (NYSE:ARES)

Blue Barn Wealth LLC bought a new position in shares of Ares Management Co. (NYSE:ARES) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund bought 1,988 shares of the asset manager’s stock, valued at approximately $236,000.

A number of other large investors have also added to or reduced their stakes in ARES. Vanguard Group Inc. lifted its stake in shares of Ares Management by 1.8% during the 3rd quarter. Vanguard Group Inc. now owns 15,761,015 shares of the asset manager’s stock worth $1,621,336,000 after buying an additional 273,645 shares during the last quarter. FMR LLC grew its position in shares of Ares Management by 27.4% in the third quarter. FMR LLC now owns 5,836,590 shares of the asset manager’s stock valued at $600,410,000 after purchasing an additional 1,255,866 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Ares Management by 3.1% during the third quarter. JPMorgan Chase & Co. now owns 2,644,429 shares of the asset manager’s stock worth $272,033,000 after purchasing an additional 78,781 shares during the period. J.P. Morgan Private Wealth Advisors LLC lifted its holdings in Ares Management by 91.2% during the 3rd quarter. J.P. Morgan Private Wealth Advisors LLC now owns 1,464,266 shares of the asset manager’s stock worth $150,629,000 after purchasing an additional 698,246 shares during the last quarter. Finally, Invesco Ltd. boosted its stake in Ares Management by 53.1% in the 3rd quarter. Invesco Ltd. now owns 1,461,097 shares of the asset manager’s stock valued at $150,303,000 after purchasing an additional 506,935 shares during the period. Institutional investors own 50.03% of the company’s stock.

Insider Activity at Ares Management

In other news, insider R. Kipp Deveer sold 82,796 shares of the stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $136.47, for a total transaction of $11,299,170.12. Following the transaction, the insider now owns 1,245,729 shares of the company’s stock, valued at approximately $170,004,636.63. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Michael J. Arougheti sold 74,585 shares of Ares Management stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $132.97, for a total transaction of $9,917,567.45. Following the transaction, the chief executive officer now owns 1,375,000 shares of the company’s stock, valued at $182,833,750. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider R. Kipp Deveer sold 82,796 shares of the firm’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $136.47, for a total value of $11,299,170.12. Following the transaction, the insider now owns 1,245,729 shares in the company, valued at $170,004,636.63. The disclosure for this sale can be found here. Insiders have sold 1,494,440 shares of company stock worth $199,049,946 in the last quarter. Company insiders own 41.89% of the company’s stock.

Ares Management Trading Up 1.0 %

Shares of ARES traded up $1.38 during mid-day trading on Wednesday, reaching $138.67. 719,013 shares of the company were exchanged, compared to its average volume of 1,039,454. The business has a 50 day simple moving average of $133.33 and a two-hundred day simple moving average of $122.20. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.02 and a current ratio of 1.02. The stock has a market capitalization of $42.93 billion, a PE ratio of 61.51, a PEG ratio of 1.00 and a beta of 1.17. Ares Management Co. has a 52 week low of $80.07 and a 52 week high of $140.35.

Ares Management (NYSE:ARES) last released its earnings results on Thursday, May 2nd. The asset manager reported $0.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.93 by ($0.13). Ares Management had a net margin of 12.86% and a return on equity of 21.63%. The firm had revenue of $707.36 million during the quarter, compared to analyst estimates of $814.88 million. During the same quarter in the previous year, the firm earned $0.71 EPS. On average, analysts predict that Ares Management Co. will post 4.47 earnings per share for the current fiscal year.

Ares Management Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be paid a $0.93 dividend. The ex-dividend date is Thursday, June 13th. This represents a $3.72 annualized dividend and a dividend yield of 2.68%. Ares Management’s dividend payout ratio is currently 166.82%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on ARES shares. Morgan Stanley boosted their target price on shares of Ares Management from $109.00 to $118.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 24th. Barclays lowered their target price on shares of Ares Management from $153.00 to $150.00 and set an “overweight” rating on the stock in a report on Friday, May 3rd. Jefferies Financial Group downgraded Ares Management from a “buy” rating to a “hold” rating and set a $122.00 price target on the stock. in a research report on Tuesday, January 9th. JMP Securities reissued a “market perform” rating on shares of Ares Management in a report on Tuesday, April 9th. Finally, Wells Fargo & Company upped their price objective on shares of Ares Management from $112.00 to $126.00 and gave the stock an “equal weight” rating in a research report on Friday, February 9th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $128.08.

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.