Ares Management Co. (NYSE:ARES) Shares Bought by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. lifted its holdings in Ares Management Co. (NYSE:ARESGet Rating) by 19.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 35,732 shares of the asset manager’s stock after purchasing an additional 5,860 shares during the period. PNC Financial Services Group Inc.’s holdings in Ares Management were worth $2,903,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new position in shares of Ares Management in the 4th quarter worth approximately $25,000. Byrne Asset Management LLC acquired a new position in shares of Ares Management in the 4th quarter worth approximately $33,000. CWM LLC grew its stake in shares of Ares Management by 575.3% in the 1st quarter. CWM LLC now owns 601 shares of the asset manager’s stock worth $49,000 after purchasing an additional 512 shares during the last quarter. Private Capital Group LLC purchased a new position in shares of Ares Management in the first quarter worth approximately $55,000. Finally, Valley National Advisers Inc. purchased a new position in shares of Ares Management in the first quarter worth approximately $65,000. Institutional investors and hedge funds own 48.61% of the company’s stock.

Ares Management Stock Performance

ARES stock opened at $72.75 on Monday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.13 and a current ratio of 0.13. The stock has a market cap of $21.38 billion, a P/E ratio of 46.63, a P/E/G ratio of 0.97 and a beta of 1.21. The firm has a 50 day simple moving average of $67.61 and a 200 day simple moving average of $70.96. Ares Management Co. has a 52 week low of $53.15 and a 52 week high of $90.08.

Ares Management (NYSE:ARESGet Rating) last posted its earnings results on Thursday, July 28th. The asset manager reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.70 by $0.04. The firm had revenue of $618.17 million during the quarter, compared to analysts’ expectations of $618.30 million. Ares Management had a net margin of 8.23% and a return on equity of 14.31%. Research analysts anticipate that Ares Management Co. will post 3.22 earnings per share for the current fiscal year.

Ares Management Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Friday, September 16th will be paid a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a yield of 3.35%. The ex-dividend date is Thursday, September 15th. Ares Management’s dividend payout ratio (DPR) is presently 156.41%.

Insider Buying and Selling at Ares Management

In other Ares Management news, General Counsel Aghili Naseem Sagati sold 7,446 shares of Ares Management stock in a transaction that occurred on Wednesday, August 3rd. The shares were sold at an average price of $73.18, for a total value of $544,898.28. Following the completion of the sale, the general counsel now directly owns 218,082 shares in the company, valued at $15,959,240.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 47.38% of the company’s stock.

Wall Street Analysts Forecast Growth

ARES has been the topic of several analyst reports. TheStreet downgraded shares of Ares Management from a “b” rating to a “c+” rating in a research report on Friday, June 3rd. JMP Securities initiated coverage on shares of Ares Management in a research report on Wednesday, June 8th. They issued a “market perform” rating on the stock. Morgan Stanley dropped their target price on shares of Ares Management from $90.00 to $76.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 19th. Wells Fargo & Company dropped their target price on shares of Ares Management from $89.00 to $75.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 13th. Finally, Barclays initiated coverage on shares of Ares Management in a report on Wednesday, August 31st. They set an “overweight” rating and a $92.00 price target for the company. One research analyst has rated the stock with a sell rating, two have issued a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, Ares Management currently has an average rating of “Moderate Buy” and a consensus target price of $89.00.

Ares Management Company Profile

(Get Rating)

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.

Featured Articles

Want to see what other hedge funds are holding ARES? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ares Management Co. (NYSE:ARESGet Rating).

Institutional Ownership by Quarter for Ares Management (NYSE:ARES)

Receive News & Ratings for Ares Management Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ares Management and related companies with MarketBeat.com's FREE daily email newsletter.