Coastal Bridge Advisors LLC Has $6.70 Million Stock Position in Ares Management Co. (NYSE:ARES)

Coastal Bridge Advisors LLC reduced its holdings in Ares Management Co. (NYSE:ARES) by 0.3% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 50,269 shares of the asset manager’s stock after selling 131 shares during the quarter. Ares Management comprises 1.7% of Coastal Bridge Advisors LLC’s holdings, making the stock its 12th largest holding. Coastal Bridge Advisors LLC’s holdings in Ares Management were worth $6,700,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of ARES. Compass Wealth Management LLC bought a new stake in Ares Management in the 1st quarter valued at about $28,000. Riverview Trust Co acquired a new stake in Ares Management in the first quarter valued at approximately $29,000. West Oak Capital LLC increased its holdings in shares of Ares Management by 66.7% during the first quarter. West Oak Capital LLC now owns 250 shares of the asset manager’s stock valued at $33,000 after acquiring an additional 100 shares in the last quarter. TFO Wealth Partners LLC raised its position in shares of 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 purchasing an additional 292 shares during the period. Finally, J.Safra Asset Management Corp lifted its holdings in shares of Ares Management by 717.6% in the 1st quarter. J.Safra Asset Management Corp now owns 278 shares of the asset manager’s stock worth $37,000 after purchasing an additional 244 shares in the last quarter. 50.03% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have commented on ARES. Redburn Atlantic started coverage on shares of Ares Management in a research note on Tuesday, August 27th. They set a “neutral” rating and a $140.00 price target for the company. 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. TD Cowen raised their price target on shares of Ares Management from $158.00 to $162.00 and gave the company a “buy” rating in a research report on Monday, August 5th. Wells Fargo & Company initiated coverage on Ares Management in a report on Thursday, September 12th. They set an “equal weight” rating and a $156.00 price objective for the company. Finally, Deutsche Bank Aktiengesellschaft cut their target price on Ares Management from $134.00 to $133.00 and set a “hold” rating on the stock in a research report on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $141.42.

Insider Buying and Selling

In other news, insider Ryan Berry sold 10,000 shares of Ares Management stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $142.12, for a total value of $1,421,200.00. Following the completion of the transaction, the insider now owns 446,702 shares in the company, valued at $63,485,288.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Ryan Berry sold 10,000 shares of the company’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $142.12, for a total transaction of $1,421,200.00. Following the sale, the insider now directly owns 446,702 shares in the company, valued at $63,485,288.24. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Michael J. Arougheti sold 27,120 shares of the 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 completion of 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. In the last 90 days, insiders sold 604,316 shares of company stock valued at $87,718,000. 1.20% of the stock is owned by insiders.

Ares Management Trading Up 0.6 %

Shares of Ares Management stock opened at $156.91 on Friday. The firm has a market cap of $48.61 billion, a PE ratio of 70.36, a P/E/G ratio of 1.47 and a beta of 1.21. Ares Management Co. has a 1 year low of $96.00 and a 1 year high of $159.95. 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 stock has a fifty day moving average price of $146.06 and a 200-day moving average price of $140.08.

Ares Management (NYSE:ARES) last posted its quarterly earnings data 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. The business 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 last year, the company posted $0.90 earnings per share. Equities research analysts anticipate that Ares Management Co. will post 4.15 EPS for the current year.

Ares Management Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be paid a dividend of $0.93 per share. The ex-dividend date of this dividend is Monday, September 16th. This represents a $3.72 annualized dividend and a dividend yield of 2.37%. Ares Management’s payout ratio is 166.82%.

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.