ZRC Wealth Management LLC Has $170,000 Stock Holdings in Ares Management Co. (NYSE:ARES)

ZRC Wealth Management LLC raised its stake in shares of Ares Management Co. (NYSE:ARES) by 31.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,277 shares of the asset manager’s stock after purchasing an additional 307 shares during the quarter. ZRC Wealth Management LLC’s holdings in Ares Management were worth $170,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Compass Wealth Management LLC acquired a new stake in shares of Ares Management during the first quarter worth $28,000. Riverview Trust Co acquired a new position in shares of Ares Management in the 1st quarter valued at $29,000. Rise Advisors LLC increased its position in shares of Ares Management by 73.9% in the 4th quarter. Rise Advisors LLC now owns 240 shares of the asset manager’s stock valued at $29,000 after buying an additional 102 shares in the last quarter. West Oak Capital LLC raised its stake in Ares Management by 66.7% during the 1st quarter. West Oak Capital LLC now owns 250 shares of the asset manager’s stock worth $33,000 after buying an additional 100 shares during the period. Finally, Hartford Financial Management Inc. lifted its holdings in Ares Management by 47.4% during the fourth quarter. Hartford Financial Management Inc. now owns 280 shares of the asset manager’s stock worth $33,000 after acquiring an additional 90 shares in the last quarter. 50.03% of the stock is currently owned by institutional investors.

Ares Management Stock Performance

ARES traded up $2.90 during mid-day trading on Thursday, reaching $138.35. 554,717 shares of the company traded hands, compared to its average volume of 1,483,983. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.70. Ares Management Co. has a 52-week low of $92.95 and a 52-week high of $150.12. The stock has a market capitalization of $42.86 billion, a P/E ratio of 62.04, a P/E/G ratio of 1.18 and a beta of 1.22. The company’s fifty day moving average price is $138.14 and its 200-day moving average price is $131.20.

Ares Management (NYSE:ARES) last announced its quarterly earnings results on Thursday, May 2nd. The asset manager reported $0.80 EPS for the quarter, missing the consensus estimate of $0.93 by ($0.13). Ares Management had a return on equity of 21.22% and a net margin of 12.86%. The company had revenue of $707.36 million during the quarter, compared to analysts’ expectations of $814.88 million. During the same quarter in the previous year, the firm earned $0.71 EPS. On average, sell-side analysts expect that Ares Management Co. will post 4.27 EPS for the current year.

Ares Management Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were issued a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a yield of 2.69%. The ex-dividend date was Friday, June 14th. Ares Management’s dividend payout ratio (DPR) is 166.82%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on ARES. JMP Securities reiterated a “market perform” rating on shares of Ares Management in a report on Tuesday, April 9th. TD Cowen raised their target price on shares of Ares Management from $154.00 to $171.00 and gave the company a “buy” rating in a research note on Wednesday, May 22nd. UBS Group increased their price target on shares of Ares Management from $156.00 to $160.00 and gave the company a “buy” rating in a research note on Friday, April 12th. Barclays cut their target price on shares of Ares Management from $153.00 to $150.00 and set an “overweight” rating for the company in a research note on Friday, May 3rd. Finally, Jefferies Financial Group decreased their price target on shares of Ares Management from $131.00 to $127.00 and set a “hold” rating on the stock in a research note on Thursday, May 9th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $130.29.

Insider Transactions at Ares Management

In related news, Director Judy D. Olian sold 3,417 shares of the company’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $134.00, for a total transaction of $457,878.00. Following the completion of the transaction, the director now owns 27,312 shares in the company, valued at approximately $3,659,808. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, Director Judy D. Olian sold 3,417 shares of Ares Management stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $134.00, for a total transaction of $457,878.00. Following the sale, the director now owns 27,312 shares in the company, valued at $3,659,808. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Bennett Rosenthal sold 150,000 shares of the firm’s stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $131.94, for a total value of $19,791,000.00. The disclosure for this sale can be found here. Insiders have sold 1,458,640 shares of company stock valued at $197,862,103 in the last 90 days. 41.89% of the stock is currently owned by company insiders.

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.