Mirae Asset Global Investments Co. Ltd. Buys 20,730 Shares of Ares Management Co. (NYSE:ARES)

Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Ares Management Co. (NYSE:ARES) by 178.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 32,339 shares of the asset manager’s stock after purchasing an additional 20,730 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Ares Management were worth $3,846,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. DekaBank Deutsche Girozentrale increased its holdings in Ares Management by 70.7% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 41,746 shares of the asset manager’s stock worth $4,987,000 after purchasing an additional 17,293 shares in the last quarter. Tritonpoint Wealth LLC bought a new position in Ares Management in the 4th quarter valued at approximately $706,000. Prime Capital Investment Advisors LLC raised its holdings in Ares Management by 404.7% in the 4th quarter. Prime Capital Investment Advisors LLC now owns 38,815 shares of the asset manager’s stock valued at $4,616,000 after buying an additional 31,124 shares during the last quarter. Allworth Financial LP boosted its position in Ares Management by 187.9% during the 4th quarter. Allworth Financial LP now owns 475 shares of the asset manager’s stock worth $56,000 after buying an additional 310 shares during the period. Finally, Capital Insight Partners LLC grew its holdings in Ares Management by 9.2% during the 4th quarter. Capital Insight Partners LLC now owns 4,494 shares of the asset manager’s stock worth $534,000 after acquiring an additional 378 shares during the last quarter. 50.03% of the stock is currently owned by institutional investors and hedge funds.

Ares Management Price Performance

Ares Management stock opened at $130.89 on Wednesday. The stock’s 50 day moving average price is $133.40 and its two-hundred day moving average price is $119.38. The stock has a market capitalization of $40.52 billion, a price-to-earnings ratio of 54.76, a PEG ratio of 0.96 and a beta of 1.17. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.02 and a current ratio of 1.02. Ares Management Co. has a 52-week low of $77.97 and a 52-week high of $139.48.

Ares Management (NYSE:ARES) last issued its earnings results on Thursday, February 8th. The asset manager reported $1.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.11. Ares Management had a net margin of 13.06% and a return on equity of 21.01%. The business had revenue of $1.05 billion for the quarter, compared to analyst estimates of $862.71 million. During the same period in the prior year, the firm earned $1.21 earnings per share. On average, equities analysts predict that Ares Management Co. will post 4.62 earnings per share for the current year.

Ares Management Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were paid a $0.93 dividend. The ex-dividend date was Thursday, March 14th. This is an increase from Ares Management’s previous quarterly dividend of $0.77. This represents a $3.72 annualized dividend and a dividend yield of 2.84%. Ares Management’s dividend payout ratio (DPR) is currently 155.65%.

Analyst Upgrades and Downgrades

ARES has been the topic of a number of recent research reports. JPMorgan Chase & Co. lifted their price target on shares of Ares Management from $119.00 to $141.00 and gave the stock an “overweight” rating in a report on Friday, February 9th. UBS Group upped their price target on Ares Management from $156.00 to $160.00 and gave the company a “buy” rating in a research report on Friday, April 12th. JMP Securities restated a “market perform” rating on shares of Ares Management in a research report on Tuesday, April 9th. Barclays cut their price objective on Ares Management from $157.00 to $153.00 and set an “overweight” rating on the stock in a research note on Monday, April 8th. Finally, Morgan Stanley increased 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. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Ares Management presently has an average rating of “Hold” and an average target price of $126.17.

Insider Activity at Ares Management

In other Ares Management news, insider R. Kipp Deveer sold 82,796 shares of the stock in a transaction that occurred on Wednesday, February 14th. The stock was 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 sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, Chairman Antony P. Ressler sold 174,258 shares of the business’s stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $134.89, for a total transaction of $23,505,661.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider R. Kipp Deveer sold 82,796 shares of the firm’s 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 completion of the transaction, the insider now directly owns 1,245,729 shares in the company, valued at approximately $170,004,636.63. The disclosure for this sale can be found here. Insiders sold 1,300,871 shares of company stock valued at $173,683,187 in the last three months. Corporate insiders own 47.34% of the company’s stock.

Ares Management 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.