Corient Private Wealth LLC Has $204.19 Million Stock Holdings in Ares Management Co. (NYSE:ARES)

Corient Private Wealth LLC decreased its position in Ares Management Co. (NYSE:ARES) by 1.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,159,021 shares of the asset manager’s stock after selling 16,858 shares during the period. Corient Private Wealth LLC’s holdings in Ares Management were worth $204,194,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in ARES. Victory Capital Management Inc. raised its holdings in shares of Ares Management by 6.5% in the 3rd quarter. Victory Capital Management Inc. now owns 65,417 shares of the asset manager’s stock worth $10,195,000 after buying an additional 4,000 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Ares Management by 5.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 682,985 shares of the asset manager’s stock worth $106,436,000 after buying an additional 36,476 shares in the last quarter. Toronto Dominion Bank raised its holdings in shares of Ares Management by 31.2% in the 3rd quarter. Toronto Dominion Bank now owns 22,750 shares of the asset manager’s stock worth $3,545,000 after buying an additional 5,404 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Ares Management in the 4th quarter worth approximately $335,858,000. Finally, JPMorgan Chase & Co. raised its holdings in shares of Ares Management by 9.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 8,244,179 shares of the asset manager’s stock worth $1,284,773,000 after buying an additional 679,462 shares in the last quarter. Institutional investors and hedge funds own 50.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ARES. Keefe, Bruyette & Woods raised Ares Management from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $166.00 to $202.00 in a report on Friday, December 20th. Barclays decreased their price target on Ares Management from $224.00 to $217.00 and set an “overweight” rating on the stock in a research report on Thursday, February 6th. StockNews.com lowered Ares Management from a “hold” rating to a “sell” rating in a research report on Wednesday, January 8th. Wells Fargo & Company increased their price target on Ares Management from $207.00 to $215.00 and gave the stock an “overweight” rating in a research report on Thursday, February 6th. Finally, JMP Securities restated a “market perform” rating on shares of Ares Management in a research report on Thursday, February 6th. One 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’s stock. According to MarketBeat, Ares Management currently has an average rating of “Moderate Buy” and an average price target of $176.17.

Insider Activity

In related news, Director Ashish Bhutani purchased 10,000 shares of the business’s stock in a transaction dated Tuesday, March 11th. The shares were bought at an average price of $141.33 per share, with a total value of $1,413,300.00. Following the purchase, the director now directly owns 22,905 shares in the company, valued at $3,237,163.65. This trade represents a 77.49 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, insider R. Kipp Deveer sold 78,933 shares of the stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $190.02, for a total value of $14,998,848.66. Following the completion of the transaction, the insider now directly owns 1,150,000 shares in the company, valued at approximately $218,523,000. This trade represents a 6.42 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 218,268 shares of company stock valued at $37,431,786 in the last 90 days. 1.20% of the stock is owned by company insiders.

Ares Management Stock Up 2.8 %

Shares of ARES opened at $144.10 on Friday. The firm has a market capitalization of $45.45 billion, a price-to-earnings ratio of 70.99, a PEG ratio of 1.28 and a beta of 1.23. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.05 and a current ratio of 1.05. The business’s fifty day moving average price is $178.62 and its two-hundred day moving average price is $169.99. Ares Management Co. has a 52 week low of $125.23 and a 52 week high of $200.49.

Ares Management (NYSE:ARES) last announced its quarterly earnings data on Wednesday, February 5th. The asset manager reported $1.23 EPS for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.12). Ares Management had a net margin of 11.35% and a return on equity of 16.64%. On average, analysts predict that Ares Management Co. will post 5.28 earnings per share for the current year.

Ares Management Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be paid a $1.12 dividend. The ex-dividend date is Monday, March 17th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.11%. This is an increase from Ares Management’s previous quarterly dividend of $0.93. Ares Management’s dividend payout ratio is 183.25%.

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.