EverSource Wealth Advisors LLC Increases Position in Ares Management Co. (NYSE:ARES)

EverSource Wealth Advisors LLC grew its position in Ares Management Co. (NYSE:ARES) by 30.5% during the second quarter, Holdings Channel.com reports. The firm owned 2,183 shares of the asset manager’s stock after acquiring an additional 510 shares during the period. EverSource Wealth Advisors LLC’s holdings in Ares Management were worth $291,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of ARES. Grayhawk Investment Strategies Inc. purchased a new stake in shares of Ares Management during the 4th quarter worth approximately $1,100,000. EP Wealth Advisors LLC lifted its position in Ares Management by 32.5% in the first quarter. EP Wealth Advisors LLC now owns 20,345 shares of the asset manager’s stock valued at $2,705,000 after acquiring an additional 4,996 shares during the last quarter. Norden Group LLC boosted its stake in Ares Management by 2,695.3% in the first quarter. Norden Group LLC now owns 70,414 shares of the asset manager’s stock valued at $9,364,000 after acquiring an additional 67,895 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in shares of Ares Management by 17.7% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 397,285 shares of the asset manager’s stock worth $52,831,000 after purchasing an additional 59,668 shares during the last quarter. Finally, FORA Capital LLC acquired a new stake in shares of Ares Management during the first quarter worth about $3,434,000. 50.03% of the stock is owned by hedge funds and other institutional investors.

Ares Management Stock Up 0.7 %

Shares of NYSE:ARES opened at $157.29 on Wednesday. The stock has a 50-day simple moving average of $145.40 and a 200-day simple moving average of $139.62. The stock has a market capitalization of $48.73 billion, a P/E ratio of 70.53, a PEG ratio of 1.33 and a beta of 1.21. Ares Management Co. has a 1 year low of $96.00 and a 1 year high of $158.50. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.05 and a current ratio of 1.05.

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, topping the consensus estimate of $0.98 by $0.01. The company had revenue of $788.68 million during the quarter, compared to analyst estimates 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 business earned $0.90 earnings per share. Equities analysts forecast that Ares Management Co. will post 4.15 earnings per share for the current year.

Ares Management Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be given a $0.93 dividend. This represents a $3.72 annualized dividend and a yield of 2.37%. The ex-dividend date is Monday, September 16th. Ares Management’s dividend payout ratio (DPR) is presently 166.82%.

Insiders Place Their Bets

In related news, CEO Michael J. Arougheti sold 27,120 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $145.67, for a total transaction of $3,950,570.40. Following the sale, the chief executive officer now directly owns 222,880 shares in the company, valued at approximately $32,466,929.60. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, insider Ryan Berry sold 12,500 shares of the firm’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $154.40, for a total transaction of $1,930,000.00. Following the completion of the sale, the insider now directly owns 376,702 shares in the company, valued at $58,162,788.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Michael J. Arougheti sold 27,120 shares of Ares Management stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $145.67, for a total value of $3,950,570.40. Following the sale, the chief executive officer now directly owns 222,880 shares in the company, valued at $32,466,929.60. The disclosure for this sale can be found here. Insiders have sold a total of 604,316 shares of company stock worth $87,718,000 over the last quarter. 1.20% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have weighed in on ARES shares. UBS Group reduced their price objective on Ares Management from $160.00 to $158.00 and set a “buy” rating for the company in a research note on Wednesday, July 10th. Wells Fargo & Company started coverage on shares of Ares Management in a research report on Thursday, September 12th. They issued an “equal weight” rating and a $156.00 price target for the company. Barclays lifted their price objective on shares of Ares Management from $151.00 to $155.00 and gave the company an “overweight” rating in a research note on Monday, August 5th. TD Cowen increased their target price on shares of Ares Management from $158.00 to $162.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. Finally, Redburn Atlantic assumed coverage on Ares Management in a report on Tuesday, August 27th. They set a “neutral” rating and a $140.00 price target on the stock. One research analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Ares Management 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.