Assenagon Asset Management S.A. Boosts Stock Position in Ares Management Co. (NYSE:ARES)

Assenagon Asset Management S.A. increased its stake in shares of Ares Management Co. (NYSE:ARES) by 182.2% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 13,906 shares of the asset manager’s stock after buying an additional 8,978 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Ares Management were worth $2,039,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ARES. Integrated Advisors Network LLC increased its position in shares of Ares Management by 8.5% during the 1st quarter. Integrated Advisors Network LLC now owns 1,841 shares of the asset manager’s stock worth $270,000 after purchasing an additional 144 shares during the last quarter. Paragon Advisors LLC raised its stake in Ares Management by 2.9% in the first quarter. Paragon Advisors LLC now owns 12,712 shares of the asset manager’s stock valued at $1,864,000 after buying an additional 362 shares in the last quarter. Wealthcare Advisory Partners LLC increased its stake in Ares Management by 1.4% in the first quarter. Wealthcare Advisory Partners LLC now owns 9,566 shares of the asset manager’s stock valued at $1,402,000 after purchasing an additional 134 shares during the last quarter. Harbor Capital Advisors Inc. lifted its position in Ares Management by 43.8% in the first quarter. Harbor Capital Advisors Inc. now owns 3,949 shares of the asset manager’s stock valued at $579,000 after acquiring an additional 1,203 shares during the last quarter. Finally, Pallas Capital Advisors LLC boosted its position in shares of Ares Management by 5.4% in the 1st quarter. Pallas Capital Advisors LLC now owns 29,019 shares of the asset manager’s stock valued at $4,255,000 after purchasing an additional 1,474 shares during the period. Institutional investors and hedge funds own 50.03% of the company’s stock.

Ares Management Stock Up 0.3%

ARES opened at $167.04 on Tuesday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.05 and a current ratio of 1.05. The company has a market cap of $54.55 billion, a price-to-earnings ratio of 82.29, a PEG ratio of 1.28 and a beta of 1.38. Ares Management Co. has a one year low of $110.63 and a one year high of $200.49. The business’s fifty day moving average is $158.62 and its two-hundred day moving average is $166.97.

Ares Management (NYSE:ARES) last released its quarterly earnings data on Monday, May 5th. The asset manager reported $1.09 EPS for the quarter, topping the consensus estimate of $0.94 by $0.15. Ares Management had a net margin of 11.35% and a return on equity of 16.64%. The business had revenue of $951.96 million for the quarter, compared to analyst estimates of $914.00 million. During the same period in the previous year, the firm earned $0.80 EPS. Analysts anticipate that Ares Management Co. will post 5.28 EPS for the current fiscal year.

Ares Management Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be given a $1.12 dividend. The ex-dividend date of this dividend is Monday, June 16th. This represents a $4.48 annualized dividend and a dividend yield of 2.68%. Ares Management’s dividend payout ratio is presently 263.53%.

Insider Transactions at Ares Management

In other news, Chairman Bennett Rosenthal sold 85,000 shares of the business’s stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $168.79, for a total value of $14,347,150.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Michael J. Arougheti sold 110,845 shares of the firm’s stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $153.17, for a total transaction of $16,978,128.65. Following the sale, the chief executive officer now owns 1,400,000 shares in the company, valued at approximately $214,438,000. This trade represents a 7.34% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 983,990 shares of company stock valued at $163,182,482 in the last ninety days. Corporate insiders own 36.86% of the company’s stock.

Analyst Ratings Changes

ARES has been the topic of several analyst reports. The Goldman Sachs Group lowered their target price on Ares Management from $188.00 to $166.00 and set a “buy” rating on the stock in a research note on Thursday, April 3rd. Bank of America cut their price objective on shares of Ares Management from $221.00 to $201.00 and set a “buy” rating for the company in a research report on Friday, April 4th. TD Cowen reduced their target price on shares of Ares Management from $216.00 to $161.00 and set a “buy” rating for the company in a research note on Wednesday, April 9th. Barclays boosted their price target on shares of Ares Management from $142.00 to $182.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 6th. Finally, Morgan Stanley cut their price target on shares of Ares Management from $197.00 to $152.00 and set an “equal weight” rating for the company in a report on Monday, April 14th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $174.94.

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.