Raymond James Trust N.A. Cuts Holdings in Ares Management Co. (NYSE:ARES)

Raymond James Trust N.A. cut its holdings in Ares Management Co. (NYSE:ARES) by 5.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,216 shares of the asset manager’s stock after selling 226 shares during the quarter. Raymond James Trust N.A.’s holdings in Ares Management were worth $562,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ARES. Compass Wealth Management LLC acquired a new position in Ares Management during the first quarter worth about $28,000. Riverview Trust Co acquired a new stake in shares of Ares Management in the 1st quarter worth approximately $29,000. West Oak Capital LLC increased its stake in Ares Management by 66.7% in the 1st quarter. West Oak Capital LLC now owns 250 shares of the asset manager’s stock valued at $33,000 after purchasing an additional 100 shares in the last quarter. Global Retirement Partners LLC raised its holdings in Ares Management by 555.0% during the first quarter. Global Retirement Partners LLC now owns 262 shares of the asset manager’s stock worth $35,000 after purchasing an additional 222 shares during the last quarter. Finally, J.Safra Asset Management Corp boosted its position in Ares Management by 717.6% during 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. Institutional investors and hedge funds own 50.03% of the company’s stock.

Ares Management Trading Down 0.0 %

Shares of ARES opened at $146.93 on Tuesday. Ares Management Co. has a fifty-two week low of $96.00 and a fifty-two week high of $155.53. The company has a market capitalization of $45.52 billion, a PE ratio of 65.89, a price-to-earnings-growth ratio of 1.29 and a beta of 1.22. The stock has a fifty day moving average of $141.40 and a two-hundred day moving average of $137.74. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.03 and a current ratio of 1.03.

Ares Management (NYSE:ARES) last announced its quarterly earnings data on Friday, August 2nd. The asset manager reported $0.99 EPS for the quarter, beating analysts’ consensus estimates of $0.98 by $0.01. Ares Management had a return on equity of 21.22% and a net margin of 12.86%. The business had revenue of $788.68 million during the quarter, compared to the consensus estimate of $860.09 million. During the same quarter in the previous year, the business earned $0.90 earnings per share. As a group, analysts forecast that Ares Management Co. will post 4.23 EPS for the current year.

Ares Management Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be issued a dividend of $0.93 per share. The ex-dividend date is Monday, September 16th. This represents a $3.72 annualized dividend and a dividend yield of 2.53%. Ares Management’s payout ratio is currently 166.82%.

Insider Activity at Ares Management

In other Ares Management news, Chairman Bennett Rosenthal sold 15,704 shares of the stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $144.09, for a total transaction of $2,262,789.36. Following the transaction, the chairman now owns 156,031 shares of the company’s stock, valued at $22,482,506.79. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Ares Management news, Chairman Bennett Rosenthal sold 15,704 shares of the company’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $144.09, for a total transaction of $2,262,789.36. Following the completion of the sale, the chairman now directly owns 156,031 shares in the company, valued at $22,482,506.79. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Michael J. Arougheti sold 15,695 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $144.10, for a total value of $2,261,649.50. Following the completion of the transaction, the chief executive officer now owns 156,241 shares in the company, valued at $22,514,328.10. The disclosure for this sale can be found here. Over the last three months, insiders sold 704,477 shares of company stock worth $97,659,456. 1.20% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft dropped their price target on Ares Management from $134.00 to $133.00 and set a “hold” rating for the company in a research report on Thursday, August 15th. TD Cowen raised their target price on shares of Ares Management from $158.00 to $162.00 and gave the company a “buy” rating in a report on Monday, August 5th. JPMorgan Chase & Co. upped their price target on shares of Ares Management from $141.00 to $143.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. UBS Group lowered their price target on shares of Ares Management from $160.00 to $158.00 and set a “buy” rating on the stock in a research report on Wednesday, July 10th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $150.00 price objective on shares of Ares Management in a research report on Wednesday, May 22nd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat, Ares Management presently has an average rating of “Hold” and a consensus target price of $138.82.

Ares Management Profile

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.