Forsta AP Fonden reduced its stake in shares of Ares Management Co. (NYSE:ARES - Free Report) by 6.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 62,600 shares of the asset manager's stock after selling 4,500 shares during the quarter. Forsta AP Fonden's holdings in Ares Management were worth $11,082,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in ARES. Mackenzie Financial Corp grew its stake in Ares Management by 1.5% in the second quarter. Mackenzie Financial Corp now owns 13,518 shares of the asset manager's stock worth $1,802,000 after purchasing an additional 194 shares in the last quarter. Creative Planning grew its position in shares of Ares Management by 5.5% during the 2nd quarter. Creative Planning now owns 18,425 shares of the asset manager's stock worth $2,456,000 after buying an additional 966 shares in the last quarter. NewEdge Advisors LLC increased its stake in shares of Ares Management by 4.7% during the second quarter. NewEdge Advisors LLC now owns 31,294 shares of the asset manager's stock valued at $4,171,000 after buying an additional 1,403 shares during the period. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Ares Management by 139.2% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 6,262 shares of the asset manager's stock valued at $835,000 after acquiring an additional 3,644 shares in the last quarter. Finally, Sanctuary Advisors LLC purchased a new stake in Ares Management in the second quarter worth about $923,000. 50.03% of the stock is currently owned by institutional investors.
Ares Management stock opened at $198.21 on Friday. The business's 50-day moving average price is $181.11 and its 200 day moving average price is $163.45. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.53. The firm has a market cap of $62.05 billion, a price-to-earnings ratio of 91.34, a price-to-earnings-growth ratio of 1.46 and a beta of 1.18. Ares Management Co. has a 52 week low of $119.76 and a 52 week high of $199.04.
Ares Management (NYSE:ARES - Get Free Report) last issued its quarterly earnings data on Friday, November 1st. The asset manager reported $0.95 EPS for the quarter, topping analysts' consensus estimates of $0.94 by $0.01. Ares Management had a net margin of 12.51% and a return on equity of 19.89%. The business had revenue of $1.13 billion for the quarter, compared to analysts' expectations of $833.58 million. During the same quarter last year, the company earned $0.83 EPS. As a group, sell-side analysts anticipate that Ares Management Co. will post 4.05 earnings per share for the current year.
ARES has been the topic of several research reports. StockNews.com lowered shares of Ares Management from a "hold" rating to a "sell" rating in a report on Wednesday, January 8th. Deutsche Bank Aktiengesellschaft lifted their price target on Ares Management from $146.00 to $150.00 and gave the company a "hold" rating in a report on Monday, November 11th. UBS Group upped their price objective on Ares Management from $158.00 to $195.00 and gave the stock a "buy" rating in a research note on Tuesday, October 22nd. Keefe, Bruyette & Woods upgraded Ares Management from a "market perform" rating to an "outperform" rating and lifted their target price for the company from $166.00 to $202.00 in a research note on Friday, December 20th. Finally, Morgan Stanley raised their price target on shares of Ares Management from $136.00 to $162.00 and gave the company an "equal weight" rating in a report on Thursday, October 10th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $176.08.
Read Our Latest Research Report on Ares Management
In related news, insider Ryan Berry sold 18,329 shares of the company's stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $175.18, for a total transaction of $3,210,874.22. Following the completion of the transaction, the insider now owns 254,885 shares in the company, valued at $44,650,754.30. This represents a 6.71 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Bennett Rosenthal sold 15,763 shares of Ares Management stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $167.24, for a total value of $2,636,204.12. Following the completion of the sale, the chairman now owns 214,189 shares in the company, valued at approximately $35,820,968.36. The trade was a 6.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 574,167 shares of company stock worth $99,996,647 in the last 90 days. Corporate insiders own 1.20% of the company's stock.
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.
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