Choreo LLC Makes New $566,000 Investment in Ares Management Co. (NYSE:ARES)

Choreo LLC bought a new position in Ares Management Co. (NYSE:ARES) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 4,167 shares of the asset manager’s stock, valued at approximately $566,000.

A number of other hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in shares of Ares Management by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 16,599,345 shares of the asset manager’s stock valued at $2,207,381,000 after purchasing an additional 206,996 shares during the last quarter. Franklin Resources Inc. boosted its holdings in shares of Ares Management by 1.9% in the 4th quarter. Franklin Resources Inc. now owns 3,872,559 shares of the asset manager’s stock valued at $460,525,000 after purchasing an additional 71,819 shares during the last quarter. LRI Investments LLC boosted its holdings in shares of Ares Management by 49.4% in the 2nd quarter. LRI Investments LLC now owns 2,822,565 shares of the asset manager’s stock valued at $376,191,000 after purchasing an additional 933,664 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Ares Management by 38.5% in the 2nd quarter. Principal Financial Group Inc. now owns 2,171,188 shares of the asset manager’s stock valued at $289,376,000 after purchasing an additional 603,676 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Ares Management in the 4th quarter valued at $205,499,000. Institutional investors and hedge funds own 50.03% of the company’s stock.

Ares Management Stock Performance

Shares of ARES stock opened at $147.40 on Friday. Ares Management Co. has a 12 month low of $96.00 and a 12 month high of $155.53. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.05 and a quick ratio of 1.05. The firm has a market capitalization of $46.13 billion, a P/E ratio of 66.10, a P/E/G ratio of 1.33 and a beta of 1.21. The company’s fifty day moving average price is $143.52 and its two-hundred day moving average price is $138.60.

Ares Management (NYSE:ARES) last released its 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. The company had revenue of $788.68 million during the quarter, compared to the consensus estimate of $860.09 million. Ares Management had a net margin of 12.53% and a return on equity of 20.46%. During the same quarter in the previous year, the firm earned $0.90 EPS. On average, research analysts anticipate that Ares Management Co. will post 4.15 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 Monday, September 30th. Stockholders of record on Monday, September 16th will be given a $0.93 dividend. This represents a $3.72 annualized dividend and a dividend yield of 2.52%. The ex-dividend date of this dividend is Monday, September 16th. Ares Management’s payout ratio is currently 166.82%.

Analyst Ratings Changes

ARES has been the topic of a number of research analyst reports. Redburn Atlantic initiated coverage on shares of Ares Management in a report on Tuesday, August 27th. They issued a “neutral” rating and a $140.00 price target on the stock. JPMorgan Chase & Co. lifted their target price 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. Barclays lifted their target price on shares of Ares Management from $151.00 to $155.00 and gave the company an “overweight” rating in a report on Monday, August 5th. Royal Bank of Canada restated an “outperform” rating and set a $150.00 target price on shares of Ares Management in a report on Wednesday, May 22nd. Finally, TD Cowen lifted 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. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $141.42.

Insider Transactions at Ares Management

In related news, insider Ryan Berry sold 10,000 shares of the business’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $142.12, for a total transaction of $1,421,200.00. Following the completion of the sale, the insider now owns 446,702 shares of the company’s stock, valued at approximately $63,485,288.24. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, insider Ryan Berry sold 10,000 shares of the business’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $142.12, for a total transaction of $1,421,200.00. Following the completion of the sale, the insider now owns 446,702 shares of the company’s stock, valued at approximately $63,485,288.24. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman Bennett Rosenthal sold 10,154 shares of the business’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $144.46, for a total transaction of $1,466,846.84. Following the sale, the chairman now directly owns 191,508 shares of the company’s stock, valued at approximately $27,665,245.68. The disclosure for this sale can be found here. In the last 90 days, insiders sold 779,315 shares of company stock valued at $109,487,356. Insiders own 1.20% of the company’s stock.

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.