Maven Securities LTD Sells 1,500 Shares of Ares Management Co. (NYSE:ARES)

Maven Securities LTD lowered its position in shares of Ares Management Co. (NYSE:ARES) by 50.0% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 1,500 shares of the asset manager’s stock after selling 1,500 shares during the quarter. Maven Securities LTD’s holdings in Ares Management were worth $266,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of ARES. Norges Bank bought a new position in shares of Ares Management during the 4th quarter worth approximately $381,365,000. Raymond James Financial Inc. purchased a new stake in shares of Ares Management during the 4th quarter worth approximately $335,858,000. TD Asset Management Inc. increased its stake in shares of Ares Management by 4,557.2% during the 4th quarter. TD Asset Management Inc. now owns 1,304,759 shares of the asset manager’s stock worth $230,981,000 after purchasing an additional 1,276,743 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Ares Management by 5.1% during the 4th quarter. Vanguard Group Inc. now owns 18,807,718 shares of the asset manager’s stock worth $3,329,530,000 after purchasing an additional 907,757 shares during the last quarter. Finally, FMR LLC increased its stake in shares of Ares Management by 12.8% during the 4th quarter. FMR LLC now owns 7,109,070 shares of the asset manager’s stock worth $1,258,519,000 after purchasing an additional 807,361 shares during the last quarter. Institutional investors own 50.03% of the company’s stock.

Ares Management Stock Up 0.3%

Shares of NYSE:ARES opened at $173.14 on Wednesday. The firm has a fifty day moving average price of $147.00 and a two-hundred day moving average price of $167.57. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.05 and a quick ratio of 1.05. Ares Management Co. has a one year low of $110.63 and a one year high of $200.49. The company has a market cap of $54.61 billion, a price-to-earnings ratio of 85.29, a PEG ratio of 1.28 and a beta of 1.40.

Ares Management (NYSE:ARES) last announced its quarterly earnings results on Monday, May 5th. The asset manager reported $1.09 EPS for the quarter, beating the consensus estimate of $0.94 by $0.15. Ares Management had a net margin of 11.35% and a return on equity of 16.64%. The firm had revenue of $951.96 million during the quarter, compared to the consensus estimate of $914.00 million. During the same period last year, the firm earned $0.80 EPS. Analysts anticipate that Ares Management Co. will post 5.28 EPS for the current fiscal year.

Ares Management Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be issued a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a dividend yield of 2.59%. The ex-dividend date of this dividend is Monday, June 16th. Ares Management’s dividend payout ratio is currently 263.53%.

Analyst Ratings Changes

Several brokerages have recently issued reports on ARES. The Goldman Sachs Group decreased their price target on shares of Ares Management from $188.00 to $166.00 and set a “buy” rating for the company in a research note on Thursday, April 3rd. 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 note on Tuesday, April 8th. JMP Securities lifted their price objective on shares of Ares Management from $165.00 to $185.00 and gave the company a “market outperform” rating in a research note on Thursday, May 8th. Barclays lifted their price objective on shares of Ares Management from $142.00 to $182.00 and gave the company an “overweight” rating in a research note on Tuesday, May 6th. Finally, Morgan Stanley reduced their price objective on shares of Ares Management from $197.00 to $152.00 and set an “equal weight” rating for the company in a research note on Monday, April 14th. One analyst has rated the stock with a sell rating, three have given a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $174.50.

Insider Transactions at Ares Management

In other Ares Management news, insider David B. Kaplan sold 69,526 shares of the business’s stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $160.99, for a total value of $11,192,990.74. Following the completion of the sale, the insider now directly owns 30,474 shares of the company’s stock, valued at $4,906,009.26. The trade was a 69.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Michael J. Arougheti sold 110,845 shares of the business’s stock in a transaction on Monday, March 24th. The stock was sold at an average price of $153.17, for a total transaction of $16,978,128.65. Following the completion of the sale, the chief executive officer now directly owns 1,400,000 shares of the company’s stock, valued at $214,438,000. This represents a 7.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 250,180 shares of company stock valued at $39,411,066. Insiders own 36.86% of the company’s stock.

About Ares Management

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.