Cambridge Investment Research Advisors Inc. lifted its position in shares of Ares Management Co. (NYSE:ARES – Get Rating) by 5.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,655 shares of the asset manager’s stock after purchasing an additional 396 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in Ares Management were worth $474,000 as of its most recent SEC filing.
Several other institutional investors have also recently made changes to their positions in the company. Millennium Management LLC grew its holdings in Ares Management by 13,281.6% in the second quarter. Millennium Management LLC now owns 1,100,098 shares of the asset manager’s stock valued at $62,552,000 after purchasing an additional 1,091,877 shares during the period. Bank of America Corp DE increased its holdings in Ares Management by 44.6% in the 1st quarter. Bank of America Corp DE now owns 2,747,871 shares of the asset manager’s stock worth $223,210,000 after acquiring an additional 846,923 shares in the last quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH acquired a new position in Ares Management during the second quarter worth $34,748,000. Price T Rowe Associates Inc. MD lifted its holdings in Ares Management by 808.6% during the second quarter. Price T Rowe Associates Inc. MD now owns 544,164 shares of the asset manager’s stock valued at $30,941,000 after purchasing an additional 484,275 shares in the last quarter. Finally, Vanguard Group Inc. grew its position in shares of Ares Management by 3.4% in the first quarter. Vanguard Group Inc. now owns 14,038,275 shares of the asset manager’s stock valued at $1,140,328,000 after purchasing an additional 458,646 shares during the period. 47.96% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling
In other news, major shareholder Ares Management Llc acquired 200,000 shares of the company’s stock in a transaction dated Friday, October 14th. The stock was acquired at an average cost of $1.47 per share, with a total value of $294,000.00. Following the completion of the purchase, the insider now owns 50,671,580 shares of the company’s stock, valued at approximately $74,487,222.60. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Ares Management news, major shareholder Ares Management Llc purchased 200,000 shares of Ares Management stock in a transaction dated Friday, October 14th. The shares were acquired at an average price of $1.47 per share, with a total value of $294,000.00. Following the completion of the transaction, the insider now owns 50,671,580 shares of the company’s stock, valued at $74,487,222.60. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Chairman Antony P. Ressler sold 455,971 shares of Ares Management stock in a transaction that occurred on Thursday, November 10th. The shares were sold at an average price of $84.41, for a total transaction of $38,488,512.11. Following the completion of the transaction, the chairman now owns 224,221 shares of the company’s stock, valued at approximately $18,926,494.61. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,238,661 shares of company stock valued at $97,818,389. Company insiders own 47.38% of the company’s stock.
Wall Street Analysts Forecast Growth
Ares Management Trading Up 0.9 %
ARES opened at $72.43 on Wednesday. The business’s 50 day moving average price is $73.70 and its 200 day moving average price is $70.55. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.13 and a current ratio of 0.13. The stock has a market capitalization of $21.31 billion, a PE ratio of 81.38, a P/E/G ratio of 0.58 and a beta of 1.29. Ares Management Co. has a one year low of $53.15 and a one year high of $86.06.
Ares Management (NYSE:ARES – Get Rating) last announced its quarterly earnings results on Thursday, October 27th. The asset manager reported $0.75 EPS for the quarter, beating the consensus estimate of $0.74 by $0.01. The business had revenue of $609.56 million for the quarter, compared to analyst estimates of $636.07 million. Ares Management had a return on equity of 14.90% and a net margin of 5.08%. During the same quarter in the prior year, the company posted $0.62 EPS. As a group, equities research analysts expect that Ares Management Co. will post 3.18 EPS for the current year.
Ares Management Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Friday, December 30th. Stockholders of record on Friday, December 16th were issued a $0.61 dividend. The ex-dividend date of this dividend was Thursday, December 15th. This represents a $2.44 annualized dividend and a dividend yield of 3.37%. Ares Management’s dividend payout ratio is currently 274.16%.
About Ares Management
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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