Ares Management Co. (NYSE:ARES) Position Boosted by XTX Topco Ltd

XTX Topco Ltd lifted its stake in shares of Ares Management Co. (NYSE:ARES) by 1,104.0% during the second quarter, Holdings Channel reports. The firm owned 19,638 shares of the asset manager’s stock after purchasing an additional 18,007 shares during the quarter. XTX Topco Ltd’s holdings in Ares Management were worth $2,617,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Curated Wealth Partners LLC increased its holdings in shares of Ares Management by 199.7% in the 2nd quarter. Curated Wealth Partners LLC now owns 1,658,217 shares of the asset manager’s stock valued at $221,007,000 after purchasing an additional 3,321,434 shares during the period. LRI Investments LLC bought a new stake in Ares Management during the first quarter valued at about $264,729,000. Massachusetts Financial Services Co. MA increased its position in Ares Management by 58.5% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 5,058,394 shares of the asset manager’s stock worth $674,183,000 after buying an additional 1,867,933 shares during the period. Norges Bank acquired a new position in Ares Management during the 4th quarter valued at $205,499,000. Finally, M&G Plc lifted its stake in shares of Ares Management by 711.1% in the second quarter. M&G Plc now owns 1,015,009 shares of the asset manager’s stock valued at $134,996,000 after buying an additional 889,872 shares during the period. 50.03% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Ares Management from $134.00 to $133.00 and set a “hold” rating on the stock in a research note on Thursday, August 15th. Redburn Atlantic initiated coverage on shares of Ares Management in a research report on Tuesday, August 27th. They issued a “neutral” rating and a $140.00 price objective for the company. TD Cowen upped their price target on Ares Management from $158.00 to $162.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Wells Fargo & Company assumed coverage on shares of Ares Management in a research note on Thursday, September 12th. They issued an “equal weight” rating and a $156.00 price objective on the stock. Finally, JPMorgan Chase & Co. upped their price target on Ares Management from $141.00 to $143.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $141.42.

Insider Activity at Ares Management

In related news, insider R. Kipp Deveer sold 41,676 shares of the company’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $150.21, for a total transaction of $6,260,151.96. Following the completion of the sale, the insider now directly owns 1,075,000 shares in the company, valued at approximately $161,475,750. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, insider R. Kipp Deveer sold 41,676 shares of the business’s stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $150.21, for a total value of $6,260,151.96. Following the sale, the insider now directly owns 1,075,000 shares of the company’s stock, valued at approximately $161,475,750. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider David B. Kaplan sold 125,000 shares of the firm’s stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $131.94, for a total transaction of $16,492,500.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 866,816 shares of company stock valued at $122,071,500. Insiders own 1.20% of the company’s stock.

Ares Management Stock Down 0.2 %

Ares Management stock opened at $152.43 on Thursday. Ares Management Co. has a twelve month low of $96.00 and a twelve month high of $155.65. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.52. The firm has a 50 day moving average price of $144.42 and a 200-day moving average price of $139.00. The company has a market capitalization of $47.23 billion, a P/E ratio of 68.35, a P/E/G ratio of 1.33 and a beta of 1.21.

Ares Management (NYSE:ARES) last released its quarterly earnings data on Friday, August 2nd. The asset manager reported $0.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.98 by $0.01. The company had revenue of $788.68 million for the quarter, compared to analyst estimates of $860.09 million. Ares Management had a return on equity of 20.46% and a net margin of 12.53%. During the same period in the previous year, the company posted $0.90 EPS. As a group, equities analysts predict that Ares Management Co. will post 4.15 EPS for the current year.

Ares Management Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be given a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a yield of 2.44%. The ex-dividend date of this dividend is Monday, September 16th. Ares Management’s payout ratio is currently 166.82%.

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.