Private Advisor Group LLC Boosts Position in Ares Management Co. (NYSE:ARES)

Private Advisor Group LLC raised its stake in Ares Management Co. (NYSE:ARES) by 2.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,279 shares of the asset manager’s stock after buying an additional 108 shares during the period. Private Advisor Group LLC’s holdings in Ares Management were worth $667,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in the stock. J.Safra Asset Management Corp grew its stake in Ares Management by 717.6% in the first quarter. J.Safra Asset Management Corp now owns 278 shares of the asset manager’s stock worth $37,000 after purchasing an additional 244 shares in the last quarter. Eastern Bank purchased a new stake in shares of Ares Management in the 3rd quarter worth $39,000. West Oak Capital LLC lifted its holdings in shares of Ares Management by 40.0% in the 2nd quarter. West Oak Capital LLC now owns 350 shares of the asset manager’s stock worth $47,000 after buying an additional 100 shares during the period. Key Financial Inc bought a new position in shares of Ares Management during the 2nd quarter worth $53,000. Finally, EntryPoint Capital LLC purchased a new position in shares of Ares Management during the first quarter valued at $54,000. 50.03% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, insider Ryan Berry sold 40,000 shares of the company’s stock in a transaction on Thursday, October 17th. The stock was sold at an average price of $167.99, for a total value of $6,719,600.00. Following the transaction, the insider now directly owns 304,202 shares of the company’s stock, valued at $51,102,893.98. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Ares Management news, CEO Michael J. Arougheti sold 27,120 shares of Ares Management stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $145.67, for a total transaction of $3,950,570.40. Following the completion of the sale, the chief executive officer now directly owns 222,880 shares in the company, valued at approximately $32,466,929.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Ryan Berry sold 40,000 shares of the stock in a transaction on Thursday, October 17th. The stock was sold at an average price of $167.99, for a total transaction of $6,719,600.00. Following the completion of the sale, the insider now owns 304,202 shares in the company, valued at $51,102,893.98. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 622,640 shares of company stock valued at $91,378,848. Insiders own 1.20% of the company’s stock.

Ares Management Stock Performance

Shares of ARES opened at $161.87 on Monday. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.52. The firm has a market cap of $50.66 billion, a PE ratio of 84.31, a P/E/G ratio of 1.61 and a beta of 1.20. Ares Management Co. has a 12 month low of $101.44 and a 12 month high of $171.78. The stock has a fifty day moving average price of $155.87 and a 200-day moving average price of $145.55.

Ares Management (NYSE:ARES) last issued its quarterly earnings results on Friday, August 2nd. The asset manager reported $0.99 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.01. Ares Management had a return on equity of 20.46% and a net margin of 12.53%. The business had revenue of $788.68 million during the quarter, compared to the consensus estimate of $860.09 million. During the same quarter last year, the company earned $0.90 earnings per share. Equities research analysts predict that Ares Management Co. will post 4.11 earnings per share for the current fiscal year.

Ares Management Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th will be paid a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a yield of 2.30%. The ex-dividend date is Tuesday, December 17th. Ares Management’s dividend payout ratio (DPR) is presently 193.75%.

Analyst Ratings Changes

A number of analysts recently weighed in on ARES shares. Royal Bank of Canada upped their price objective on shares of Ares Management from $150.00 to $170.00 and gave the stock an “outperform” rating in a research note on Friday, October 11th. Barclays upped their price target on shares of Ares Management from $155.00 to $174.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Ares Management from $134.00 to $133.00 and set a “hold” rating on the stock in a report on Thursday, August 15th. The Goldman Sachs Group upped their target price on Ares Management from $145.00 to $160.00 and gave the stock a “buy” rating in a report on Monday, September 30th. Finally, Wells Fargo & Company lifted their price target on Ares Management from $156.00 to $172.00 and gave the company an “equal weight” rating in a report on Wednesday, October 9th. Six analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, Ares Management presently has a consensus rating of “Moderate Buy” and an average price target of $159.18.

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.