Overbrook Management Corp Has $15.87 Million Stock Position in Ares Management Co. (NYSE:ARES)

Overbrook Management Corp boosted its position in Ares Management Co. (NYSE:ARES) by 1.0% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 133,440 shares of the asset manager’s stock after purchasing an additional 1,335 shares during the period. Ares Management comprises 3.2% of Overbrook Management Corp’s holdings, making the stock its 14th largest position. Overbrook Management Corp’s holdings in Ares Management were worth $15,869,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the stock. SG Americas Securities LLC increased its holdings in shares of Ares Management by 797.8% during the third quarter. SG Americas Securities LLC now owns 21,995 shares of the asset manager’s stock worth $2,263,000 after purchasing an additional 19,545 shares during the period. Capital Asset Advisory Services LLC increased its holdings in shares of Ares Management by 8.5% during the third quarter. Capital Asset Advisory Services LLC now owns 3,890 shares of the asset manager’s stock worth $432,000 after purchasing an additional 304 shares during the period. Coastline Trust Co bought a new position in shares of Ares Management during the third quarter worth approximately $747,000. Oak Thistle LLC increased its holdings in shares of Ares Management by 17.3% during the third quarter. Oak Thistle LLC now owns 5,199 shares of the asset manager’s stock worth $535,000 after purchasing an additional 767 shares during the period. Finally, Handelsbanken Fonder AB increased its holdings in shares of Ares Management by 33.5% during the third quarter. Handelsbanken Fonder AB now owns 29,900 shares of the asset manager’s stock worth $3,076,000 after purchasing an additional 7,500 shares during the period. 50.03% of the stock is owned by institutional investors.

Ares Management Trading Down 1.6 %

NYSE ARES traded down $2.24 during mid-day trading on Thursday, reaching $133.71. 735,250 shares of the stock were exchanged, compared to its average volume of 1,018,621. Ares Management Co. has a one year low of $77.97 and a one year high of $139.48. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.02 and a quick ratio of 1.02. The stock has a market cap of $41.40 billion, a P/E ratio of 55.95, a P/E/G ratio of 1.03 and a beta of 1.17. The stock has a 50 day simple moving average of $133.10 and a 200-day simple moving average of $120.58.

Ares Management (NYSE:ARES) last posted its quarterly earnings results on Thursday, February 8th. The asset manager reported $1.21 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.11. The firm had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $862.71 million. Ares Management had a net margin of 13.06% and a return on equity of 21.01%. During the same period in the previous year, the firm posted $1.21 earnings per share. On average, analysts anticipate that Ares Management Co. will post 4.48 EPS for the current year.

Ares Management Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were given a dividend of $0.93 per share. The ex-dividend date was Thursday, March 14th. This is an increase from Ares Management’s previous quarterly dividend of $0.77. This represents a $3.72 annualized dividend and a dividend yield of 2.78%. Ares Management’s payout ratio is presently 155.65%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on ARES shares. Barclays reduced their price target on shares of Ares Management from $157.00 to $153.00 and set an “overweight” rating on the stock in a research report on Monday, April 8th. JPMorgan Chase & Co. raised their target price on shares of Ares Management from $119.00 to $141.00 and gave the company an “overweight” rating in a research report on Friday, February 9th. Wells Fargo & Company lifted their price target on shares of Ares Management from $112.00 to $126.00 and gave the stock an “equal weight” rating in a report on Friday, February 9th. JMP Securities reiterated a “market perform” rating on shares of Ares Management in a report on Tuesday, April 9th. Finally, Jefferies Financial Group lowered shares of Ares Management from a “buy” rating to a “hold” rating and set a $122.00 price target on the stock. in a report on Tuesday, January 9th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $126.17.

Insider Transactions at Ares Management

In related news, Chairman Antony P. Ressler sold 143,569 shares of the business’s stock in a transaction dated Wednesday, April 17th. The shares were sold at an average price of $131.51, for a total transaction of $18,880,759.19. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, insider R. Kipp Deveer sold 82,796 shares of the business’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $136.47, for a total transaction of $11,299,170.12. Following the transaction, the insider now directly owns 1,245,729 shares in the company, valued at $170,004,636.63. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman Antony P. Ressler sold 143,569 shares of the business’s stock in a transaction dated Wednesday, April 17th. The stock was sold at an average price of $131.51, for a total transaction of $18,880,759.19. The disclosure for this sale can be found here. Insiders sold a total of 1,494,440 shares of company stock valued at $199,049,946 over the last three months. Corporate insiders own 47.34% of the company’s stock.

Ares Management 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.