Overbrook Management Corp Purchases 1,335 Shares of Ares Management Co. (NYSE:ARES)

Overbrook Management Corp boosted its position in Ares Management Co. (NYSE:ARES) by 1.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 133,440 shares of the asset manager’s stock after acquiring an additional 1,335 shares during the quarter. Ares Management accounts for approximately 3.2% of Overbrook Management Corp’s portfolio, making the stock its 14th largest holding. Overbrook Management Corp’s holdings in Ares Management were worth $15,869,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Rise Advisors LLC grew its stake in shares of Ares Management by 73.9% during the fourth quarter. Rise Advisors LLC now owns 240 shares of the asset manager’s stock valued at $29,000 after buying an additional 102 shares during the last quarter. Hollencrest Capital Management purchased a new stake in shares of Ares Management during the third quarter worth about $27,000. Legacy Financial Group LLC purchased a new stake in Ares Management in the third quarter worth about $27,000. Hartford Financial Management Inc. lifted its holdings in Ares Management by 47.4% in the fourth quarter. Hartford Financial Management Inc. now owns 280 shares of the asset manager’s stock worth $33,000 after buying an additional 90 shares during the period. Finally, Arlington Trust Co LLC purchased a new stake in Ares Management in the fourth quarter worth about $34,000. Institutional investors own 50.03% of the company’s stock.

Insider Buying and Selling

In related news, Chairman Antony P. Ressler sold 143,569 shares of the firm’s stock in a transaction that occurred on Wednesday, April 17th. The shares were sold at an average price of $131.51, for a total value of $18,880,759.19. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, Chairman Antony P. Ressler sold 143,569 shares of the firm’s stock in a transaction that occurred on Wednesday, April 17th. The shares were sold at an average price of $131.51, for a total value of $18,880,759.19. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Antony P. Ressler sold 38,915 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $132.46, for a total transaction of $5,154,680.90. Following the completion of the transaction, the chairman now owns 96,085 shares in the company, valued at approximately $12,727,419.10. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,494,440 shares of company stock valued at $199,049,946. Insiders own 47.34% of the company’s stock.

Ares Management Stock Down 1.6 %

ARES traded down $2.24 during trading hours on Thursday, hitting $133.71. 735,250 shares of the company’s stock were exchanged, compared to its average volume of 1,018,621. The firm has a market cap of $41.40 billion, a P/E ratio of 55.95, a price-to-earnings-growth ratio of 1.03 and a beta of 1.17. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.69. Ares Management Co. has a 12-month low of $77.97 and a 12-month high of $139.48. The firm has a 50 day moving average of $133.10 and a 200 day moving average of $120.58.

Ares Management (NYSE:ARES) last announced its quarterly earnings results on Thursday, February 8th. The asset manager reported $1.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $862.71 million. During the same quarter last year, the firm posted $1.21 EPS. Analysts predict that Ares Management Co. will post 4.48 EPS for the current fiscal year.

Ares Management Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were paid a dividend of $0.93 per share. This is a boost from Ares Management’s previous quarterly dividend of $0.77. This represents a $3.72 annualized dividend and a dividend yield of 2.78%. The ex-dividend date of this dividend was Thursday, March 14th. Ares Management’s dividend payout ratio (DPR) is currently 155.65%.

Analyst Ratings Changes

A number of research firms have commented on ARES. Royal Bank of Canada lifted their target price on shares of Ares Management from $135.00 to $145.00 and gave the stock an “outperform” rating in a research report on Monday, February 12th. Barclays lowered their target price on shares of Ares Management from $157.00 to $153.00 and set an “overweight” rating on the stock in a research note on Monday, April 8th. Wells Fargo & Company boosted their price target on shares of Ares Management from $112.00 to $126.00 and gave the stock an “equal weight” rating in a research note on Friday, February 9th. JMP Securities reiterated a “market perform” rating on shares of Ares Management in a research note on Tuesday, April 9th. Finally, JPMorgan Chase & Co. boosted their target price 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. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $126.17.

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.