Hohimer Wealth Management LLC Raises Position in Ares Management Co. (NYSE:ARES)

Hohimer Wealth Management LLC lifted its position in shares of Ares Management Co. (NYSE:ARES) by 0.8% during the 4th quarter, HoldingsChannel reports. The firm owned 41,348 shares of the asset manager’s stock after acquiring an additional 323 shares during the period. Ares Management accounts for about 1.2% of Hohimer Wealth Management LLC’s investment portfolio, making the stock its 17th biggest holding. Hohimer Wealth Management LLC’s holdings in Ares Management were worth $4,917,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Rise Advisors LLC lifted its holdings in Ares Management by 73.9% in the fourth quarter. Rise Advisors LLC now owns 240 shares of the asset manager’s stock valued at $29,000 after acquiring an additional 102 shares during the period. Hollencrest Capital Management purchased a new position in Ares Management during the 3rd quarter valued at approximately $27,000. Hartford Financial Management Inc. grew its holdings in Ares Management by 47.4% during the 4th quarter. Hartford Financial Management Inc. now owns 280 shares of the asset manager’s stock valued at $33,000 after buying an additional 90 shares in the last quarter. Arlington Trust Co LLC purchased a new position in Ares Management during the 4th quarter valued at approximately $34,000. Finally, Livforsakringsbolaget Skandia Omsesidigt purchased a new position in shares of Ares Management in the 4th quarter worth approximately $36,000. Institutional investors own 50.03% of the company’s stock.

Insider Transactions at Ares Management

In other news, CEO Michael J. Arougheti sold 157,837 shares of the stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $148.22, for a total value of $23,394,600.14. Following the sale, the chief executive officer now directly owns 92,163 shares in the company, valued at $13,660,399.86. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CEO Michael J. Arougheti sold 157,837 shares of Ares Management stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $148.22, for a total transaction of $23,394,600.14. Following the sale, the chief executive officer now owns 92,163 shares in the company, valued at $13,660,399.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael J. Arougheti sold 74,585 shares of Ares Management stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $132.97, for a total value of $9,917,567.45. Following the sale, the chief executive officer now owns 1,375,000 shares in the company, valued at approximately $182,833,750. The disclosure for this sale can be found here. Insiders sold a total of 1,488,844 shares of company stock worth $200,239,222 over the last ninety days. Company insiders own 1.20% of the company’s stock.

Analyst Upgrades and Downgrades

ARES has been the subject of a number of research analyst reports. Morgan Stanley raised their price target on Ares Management from $109.00 to $118.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 24th. JMP Securities reissued a “market perform” rating on shares of Ares Management in a research note on Tuesday, April 9th. Jefferies Financial Group decreased their target price on Ares Management from $131.00 to $127.00 and set a “hold” rating for the company in a research report on Thursday, May 9th. JPMorgan Chase & Co. boosted their price target on Ares Management from $119.00 to $141.00 and gave the stock an “overweight” rating in a research report on Friday, February 9th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $150.00 target price on shares of Ares Management in a research note on Wednesday. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, Ares Management presently has an average rating of “Hold” and a consensus target price of $130.15.

Ares Management Price Performance

NYSE ARES traded down $0.75 during trading hours on Thursday, reaching $144.00. The company’s stock had a trading volume of 684,828 shares, compared to its average volume of 1,074,818. The firm has a market capitalization of $44.58 billion, a price-to-earnings ratio of 64.81, a P/E/G ratio of 1.21 and a beta of 1.17. Ares Management Co. has a 1-year low of $81.88 and a 1-year high of $150.12. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.03 and a quick ratio of 1.03. The company’s 50-day moving average is $135.49 and its two-hundred day moving average is $125.28.

Ares Management (NYSE:ARES) last announced its earnings results on Thursday, May 2nd. The asset manager reported $0.80 EPS for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.13). The firm had revenue of $707.36 million for the quarter, compared to analyst estimates of $814.88 million. Ares Management had a net margin of 12.86% and a return on equity of 21.22%. During the same period in the previous year, the company earned $0.71 EPS. On average, equities analysts predict that Ares Management Co. will post 4.24 EPS for the current year.

Ares Management Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be given a dividend of $0.93 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $3.72 annualized dividend and a dividend yield of 2.58%. Ares Management’s dividend payout ratio is currently 166.82%.

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.