PNC Financial Services Group Inc. Buys 1,772 Shares of Ares Management Co. (NYSE:ARES)

PNC Financial Services Group Inc. increased its stake in shares of Ares Management Co. (NYSE:ARES) by 4.8% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 38,769 shares of the asset manager’s stock after acquiring an additional 1,772 shares during the period. PNC Financial Services Group Inc.’s holdings in Ares Management were worth $4,610,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Hollencrest Capital Management bought a new stake in Ares Management during the third quarter worth about $27,000. Rise Advisors LLC raised its holdings in Ares Management by 73.9% during the fourth quarter. Rise Advisors LLC now owns 240 shares of the asset manager’s stock worth $29,000 after acquiring an additional 102 shares in the last quarter. Hartford Financial Management Inc. raised 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. Arlington Trust Co LLC bought a new stake in Ares Management in the fourth quarter valued at approximately $34,000. Finally, TFO Wealth Partners LLC raised its stake in Ares Management by 29,200.0% in the fourth quarter. TFO Wealth Partners LLC now owns 293 shares of the asset manager’s stock valued at $35,000 after buying an additional 292 shares during the period. Institutional investors own 50.03% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Barclays dropped their price objective on Ares Management from $153.00 to $150.00 and set an “overweight” rating on the stock in a research note on Friday, May 3rd. Royal Bank of Canada restated an “outperform” rating and issued a $150.00 price objective on shares of Ares Management in a research note on Wednesday, May 22nd. TD Cowen upped their price objective on Ares Management from $154.00 to $171.00 and gave the company a “buy” rating in a research note on Wednesday, May 22nd. Deutsche Bank Aktiengesellschaft lowered Ares Management from a “buy” rating to a “hold” rating and dropped their price objective for the company from $176.00 to $132.00 in a research note on Thursday, June 13th. Finally, UBS Group upped their price objective on Ares Management from $156.00 to $160.00 and gave the company a “buy” rating in a research note on Friday, April 12th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $130.29.

Ares Management Stock Up 0.6 %

NYSE ARES opened at $134.88 on Wednesday. The business has a fifty day moving average price of $137.55 and a two-hundred day moving average price of $129.51. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.03 and a quick ratio of 1.03. Ares Management Co. has a fifty-two week low of $90.29 and a fifty-two week high of $150.12. The stock has a market capitalization of $41.79 billion, a PE ratio of 60.48, a PEG ratio of 1.28 and a beta of 1.21.

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 analysts’ consensus estimates of $0.93 by ($0.13). Ares Management had a net margin of 12.86% and a return on equity of 21.22%. The firm had revenue of $707.36 million during the quarter, compared to the consensus estimate of $814.88 million. During the same quarter in the previous year, the company posted $0.71 earnings per share. Equities analysts expect that Ares Management Co. will post 4.2 earnings per share for the current fiscal year.

Ares Management Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be issued a dividend of $0.93 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $3.72 dividend on an annualized basis and a yield of 2.76%. Ares Management’s payout ratio is currently 166.82%.

Insiders Place Their Bets

In other Ares Management news, Chairman Antony P. Ressler sold 15,304 shares of the stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $134.58, for a total transaction of $2,059,612.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider David B. Kaplan sold 33,905 shares of the firm’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $131.75, for a total value of $4,466,983.75. Following the completion of the sale, the insider now directly owns 91,095 shares in the company, valued at approximately $12,001,766.25. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Chairman Antony P. Ressler sold 15,304 shares of the firm’s stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $134.58, for a total value of $2,059,612.32. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,440,288 shares of company stock worth $195,604,134. Company insiders own 41.89% of the company’s stock.

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.