Ares Management Co. (NYSE:ARES) Shares Sold by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. trimmed its position in shares of Ares Management Co. (NYSE:ARES) by 9.3% during the second quarter, HoldingsChannel reports. The fund owned 22,885 shares of the asset manager’s stock after selling 2,350 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Ares Management were worth $3,050,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in ARES. Compass Wealth Management LLC acquired a new position in shares of Ares Management during the first quarter worth about $28,000. Riverview Trust Co acquired a new position in Ares Management during the first quarter worth about $29,000. West Oak Capital LLC grew its position in Ares Management by 66.7% during the first quarter. West Oak Capital LLC now owns 250 shares of the asset manager’s stock worth $33,000 after buying an additional 100 shares during the period. TFO Wealth Partners LLC grew its position in Ares Management by 29,200.0% during the fourth quarter. TFO Wealth Partners LLC now owns 293 shares of the asset manager’s stock worth $35,000 after buying an additional 292 shares during the period. Finally, J.Safra Asset Management Corp grew 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 buying an additional 244 shares during the period. 50.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Ares Management

In related news, CEO Michael J. Arougheti sold 27,120 shares of the company’s 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 transaction, the chief executive officer now owns 222,880 shares of the company’s stock, valued at $32,466,929.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Michael J. Arougheti sold 27,120 shares of the company’s 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 transaction, the chief executive officer now owns 222,880 shares of the company’s stock, valued at $32,466,929.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Bennett Rosenthal sold 150,000 shares of the company’s stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $131.94, for a total transaction of $19,791,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 779,315 shares of company stock valued at $109,487,356. Company insiders own 1.20% of the company’s stock.

Ares Management Stock Performance

Shares of ARES opened at $147.40 on Monday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.05 and a current ratio of 1.05. The company has a market capitalization of $46.13 billion, a price-to-earnings ratio of 66.10, a PEG ratio of 1.33 and a beta of 1.21. The company’s 50 day simple moving average is $143.52 and its 200 day simple moving average is $138.65. Ares Management Co. has a 1 year low of $96.00 and a 1 year high of $155.53.

Ares Management (NYSE:ARES) last announced its quarterly earnings data on Friday, August 2nd. The asset manager reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.01. The business had revenue of $788.68 million for 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 prior year, the firm posted $0.90 earnings per share. On average, sell-side analysts predict that Ares Management Co. will post 4.15 EPS for the current year.

Ares Management Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be paid a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a dividend yield of 2.52%. The ex-dividend date is Monday, September 16th. Ares Management’s payout ratio is 166.82%.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. JPMorgan Chase & Co. upped their target price on shares of Ares Management from $141.00 to $143.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. UBS Group lowered their target price 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. Redburn Atlantic started coverage on shares of Ares Management in a research report on Tuesday, August 27th. They set a “neutral” rating and a $140.00 target price on the stock. Barclays upped their price target 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. Finally, TD Cowen upped their price target 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 issued a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $141.42.

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.