Raymond James Financial Services Advisors Inc. Reduces Stock Holdings in Ares Management Co. (NYSE:ARES)

Raymond James Financial Services Advisors Inc. reduced its stake in Ares Management Co. (NYSE:ARESGet Rating) by 10.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 34,266 shares of the asset manager’s stock after selling 3,944 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Ares Management were worth $2,123,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Xponance Inc. grew its position in shares of Ares Management by 1.9% during the third quarter. Xponance Inc. now owns 17,945 shares of the asset manager’s stock worth $1,112,000 after acquiring an additional 328 shares during the last quarter. Great Diamond Partners LLC grew its position in shares of Ares Management by 18.5% during the third quarter. Great Diamond Partners LLC now owns 8,171 shares of the asset manager’s stock worth $506,000 after acquiring an additional 1,274 shares during the last quarter. CTC Capital Management LLC purchased a new position in shares of Ares Management during the third quarter worth approximately $502,000. Sumitomo Mitsui DS Asset Management Company Ltd purchased a new position in Ares Management in the 3rd quarter valued at $2,063,000. Finally, Ritholtz Wealth Management purchased a new position in Ares Management in the 3rd quarter valued at $279,000. 47.96% of the stock is currently owned by hedge funds and other institutional investors.

Ares Management Trading Up 0.9 %

Shares of ARES stock opened at $77.47 on Tuesday. The firm has a 50-day moving average price of $73.58 and a 200 day moving average price of $71.06. Ares Management Co. has a twelve month low of $53.15 and a twelve month high of $86.06. The company has a market capitalization of $22.79 billion, a price-to-earnings ratio of 87.05, a PEG ratio of 0.69 and a beta of 1.29. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.63.

Ares Management (NYSE:ARESGet Rating) last announced its earnings results on Thursday, October 27th. The asset manager reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.01. Ares Management had a net margin of 5.08% and a return on equity of 14.90%. The firm had revenue of $609.56 million during the quarter, compared to the consensus estimate of $636.07 million. During the same quarter in the previous year, the company posted $0.62 EPS. Research analysts forecast that Ares Management Co. will post 3.23 earnings per share for the current fiscal year.

Ares Management Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 30th. Investors of record on Friday, December 16th were paid a $0.61 dividend. This represents a $2.44 annualized dividend and a yield of 3.15%. The ex-dividend date was Thursday, December 15th. Ares Management’s payout ratio is 274.16%.

Insider Activity at Ares Management

In other Ares Management news, insider Bennett Rosenthal sold 100,000 shares of Ares Management stock in a transaction dated Monday, December 12th. The stock was sold at an average price of $70.14, for a total value of $7,014,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Ares Management news, CEO Michael J. Arougheti sold 2,983 shares of Ares Management stock in a transaction dated Thursday, November 10th. The stock was sold at an average price of $85.02, for a total value of $253,614.66. Following the completion of the sale, the chief executive officer now owns 470,138 shares in the company, valued at approximately $39,971,132.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Bennett Rosenthal sold 100,000 shares of Ares Management stock in a transaction dated Monday, December 12th. The shares were sold at an average price of $70.14, for a total value of $7,014,000.00. 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. 47.38% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on ARES shares. UBS Group lifted their price objective on shares of Ares Management from $78.00 to $95.00 and gave the company a “buy” rating in a research report on Tuesday, November 15th. Barclays raised their target price on Ares Management from $82.00 to $87.00 and gave the company an “overweight” rating in a report on Thursday, January 12th. Piper Sandler reduced their target price on Ares Management to $86.00 in a report on Tuesday, November 1st. Morgan Stanley raised their target price on Ares Management from $76.00 to $82.00 and gave the company an “equal weight” rating in a report on Monday, October 31st. Finally, Royal Bank of Canada raised their target price on Ares Management from $83.00 to $93.00 and gave the company an “outperform” rating in a report on Tuesday, November 1st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $86.88.

Ares Management 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.

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

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