Fifth Third Bancorp Has $4.40 Million Holdings in Ares Management Co. (NYSE:ARES)

Fifth Third Bancorp trimmed its holdings in Ares Management Co. (NYSE:ARES) by 1.3% in the fourth quarter, Holdings Channel reports. The fund owned 24,847 shares of the asset manager’s stock after selling 325 shares during the period. Fifth Third Bancorp’s holdings in Ares Management were worth $4,399,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of ARES. Impact Partnership Wealth LLC bought a new stake in Ares Management in the 4th quarter valued at $513,000. RFG Advisory LLC raised its stake in shares of Ares Management by 0.7% in the 4th quarter. RFG Advisory LLC now owns 11,051 shares of the asset manager’s stock valued at $1,956,000 after purchasing an additional 82 shares during the period. New Century Financial Group LLC lifted its holdings in shares of Ares Management by 6.1% in the fourth quarter. New Century Financial Group LLC now owns 1,688 shares of the asset manager’s stock valued at $306,000 after purchasing an additional 97 shares in the last quarter. Donoghue Forlines LLC acquired a new position in shares of Ares Management during the fourth quarter worth about $1,498,000. Finally, Mutual Advisors LLC grew its holdings in shares of Ares Management by 14.6% during the fourth quarter. Mutual Advisors LLC now owns 4,856 shares of the asset manager’s stock worth $912,000 after buying an additional 620 shares in the last quarter. 50.03% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. UBS Group boosted their target price on Ares Management from $158.00 to $195.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. JPMorgan Chase & Co. reduced their target price on shares of Ares Management from $176.00 to $174.00 and set an “overweight” rating for the company in a report on Tuesday, November 5th. StockNews.com lowered shares of Ares Management from a “hold” rating to a “sell” rating in a research note on Wednesday, January 8th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Ares Management from $146.00 to $150.00 and gave the stock a “hold” rating in a research note on Monday, November 11th. Finally, The Goldman Sachs Group lifted their target price on Ares Management from $145.00 to $160.00 and gave the company a “buy” rating in a research report on Monday, September 30th. One 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 data from MarketBeat, Ares Management currently has an average rating of “Moderate Buy” and a consensus target price of $171.92.

Ares Management Stock Up 0.8 %

ARES opened at $197.39 on Monday. The stock’s fifty day simple moving average is $179.76 and its 200 day simple moving average is $162.36. Ares Management Co. has a 1-year low of $117.47 and a 1-year high of $197.53. The stock has a market cap of $61.79 billion, a PE ratio of 90.96, a price-to-earnings-growth ratio of 1.46 and a beta of 1.18. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.53.

Ares Management (NYSE:ARES) last posted its earnings results on Friday, November 1st. The asset manager reported $0.95 earnings per share (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 company had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $833.58 million. During the same quarter last year, the company posted $0.83 EPS. As a group, research analysts expect that Ares Management Co. will post 4.05 earnings per share for the current year.

Ares Management Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th were paid a dividend of $0.93 per share. The ex-dividend date was Tuesday, December 17th. This represents a $3.72 dividend on an annualized basis and a dividend yield of 1.88%. Ares Management’s dividend payout ratio (DPR) is currently 171.43%.

Insider Buying and Selling

In other Ares Management news, insider Ryan Berry sold 1,671 shares of Ares Management stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $175.00, for a total value of $292,425.00. Following the completion of the sale, the insider now owns 253,214 shares in the company, valued at $44,312,450. The trade was a 0.66 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael J. Arougheti sold 15,825 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $167.24, for a total transaction of $2,646,573.00. Following the transaction, the chief executive officer now owns 214,079 shares in the company, valued at approximately $35,802,571.96. The trade was a 6.88 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 574,167 shares of company stock valued at $99,996,647. Insiders own 1.20% 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.