DnB Asset Management AS Sells 29,439 Shares of Ares Management Co. (NYSE:ARES)

DnB Asset Management AS cut its position in shares of Ares Management Co. (NYSE:ARESGet Rating) by 21.6% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 106,952 shares of the asset manager’s stock after selling 29,439 shares during the quarter. DnB Asset Management AS’s holdings in Ares Management were worth $6,083,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new position in shares of Ares Management during the 4th quarter worth approximately $25,000. Geneos Wealth Management Inc. boosted its holdings in Ares Management by 300.0% during the first quarter. Geneos Wealth Management Inc. now owns 400 shares of the asset manager’s stock worth $32,000 after purchasing an additional 300 shares during the last quarter. Byrne Asset Management LLC bought a new position in Ares Management in the fourth quarter valued at $33,000. CWM LLC increased its stake in Ares Management by 575.3% in the 1st quarter. CWM LLC now owns 601 shares of the asset manager’s stock valued at $49,000 after buying an additional 512 shares during the last quarter. Finally, Private Capital Group LLC bought a new stake in Ares Management during the 1st quarter worth about $55,000. Institutional investors and hedge funds own 48.61% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. TheStreet cut Ares Management from a “b” rating to a “c+” rating in a report on Friday, June 3rd. Morgan Stanley dropped their price objective on Ares Management from $90.00 to $76.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 19th. JMP Securities started coverage on shares of Ares Management in a research note on Wednesday, June 8th. They issued a “market perform” rating for the company. Wells Fargo & Company dropped their price target 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 research report on Wednesday, August 31st. They issued an “overweight” rating and a $92.00 price objective for the company. One analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $89.00.

Ares Management Trading Down 2.0 %

Shares of NYSE:ARES opened at $74.66 on Monday. Ares Management Co. has a 12-month low of $53.15 and a 12-month high of $90.08. The business has a 50 day moving average of $71.53 and a 200-day moving average of $70.60. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.58. The stock has a market cap of $21.94 billion, a PE ratio of 47.86, a P/E/G ratio of 0.99 and a beta of 1.19.

Ares Management (NYSE:ARESGet Rating) last issued its quarterly earnings data on Thursday, July 28th. The asset manager reported $0.74 EPS for the quarter, beating analysts’ consensus estimates of $0.70 by $0.04. Ares Management had a return on equity of 14.31% and a net margin of 8.23%. The firm had revenue of $618.17 million for the quarter, compared to analyst estimates of $618.30 million. As a group, equities research analysts forecast that Ares Management Co. will post 3.22 earnings per share for the current year.

Ares Management Dividend Announcement

The firm also recently disclosed 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 annualized dividend and a yield of 3.27%. The ex-dividend date of this dividend is Thursday, September 15th. Ares Management’s dividend payout ratio (DPR) is 156.41%.

Insider Buying and Selling at Ares Management

In other 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 document filed with the SEC, which can be accessed through this link. Insiders own 47.38% of the company’s stock.

Ares Management Profile

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

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