Ares Management Co. (NYSE:ARES) Shares Acquired by Private Advisor Group LLC

Private Advisor Group LLC boosted its holdings in Ares Management Co. (NYSE:ARES) by 59.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,171 shares of the asset manager’s stock after purchasing an additional 1,553 shares during the quarter. Private Advisor Group LLC’s holdings in Ares Management were worth $556,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. 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 buying an additional 206,996 shares during the period. LRI Investments LLC boosted its stake in Ares Management by 49.4% in the second quarter. LRI Investments LLC now owns 2,822,565 shares of the asset manager’s stock valued at $376,191,000 after acquiring an additional 933,664 shares during the period. Principal Financial Group Inc. boosted its stake in Ares Management by 38.5% in the second quarter. Principal Financial Group Inc. now owns 2,171,188 shares of the asset manager’s stock valued at $289,376,000 after acquiring an additional 603,676 shares during the period. Norges Bank bought a new position in shares of Ares Management during the fourth quarter valued at approximately $205,499,000. Finally, Curated Wealth Partners LLC raised its position in shares of Ares Management by 199.7% during the 2nd quarter. Curated Wealth Partners LLC now owns 1,658,217 shares of the asset manager’s stock worth $221,007,000 after purchasing an additional 3,321,434 shares during the period. Institutional investors own 50.03% of the company’s stock.

Ares Management Stock Down 0.2 %

Shares of ARES stock opened at $152.43 on Thursday. 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 stock has a market cap of $47.23 billion, a PE ratio of 68.35, a price-to-earnings-growth ratio of 1.33 and a beta of 1.21. The business’s fifty day moving average is $144.42 and its 200-day moving average is $139.00. Ares Management Co. has a 1 year low of $96.00 and a 1 year high of $155.65.

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

Ares Management Announces Dividend

The firm also recently announced 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 yield of 2.44%. The ex-dividend date of this dividend is Monday, September 16th. Ares Management’s dividend payout ratio is presently 166.82%.

Insider Buying and Selling

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

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. TD Cowen upped their price objective on Ares Management from $158.00 to $162.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. Royal Bank of Canada restated an “outperform” rating and set a $150.00 price target on shares of Ares Management in a research report on Wednesday, May 22nd. Redburn Atlantic began 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 on the stock. UBS Group decreased their target price on shares of Ares Management from $160.00 to $158.00 and set a “buy” rating for the company in a research report on Wednesday, July 10th. Finally, Wells Fargo & Company assumed coverage on Ares Management in a report on Thursday, September 12th. They set an “equal weight” rating and a $156.00 price target on the stock. One 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. According to data from MarketBeat, Ares Management presently has an average rating of “Hold” and a consensus price target of $141.42.

Ares Management Company 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.