New Century Financial Group LLC Invests $248,000 in Ares Management Co. (NYSE:ARES)

New Century Financial Group LLC bought a new stake in Ares Management Co. (NYSE:ARES) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 1,591 shares of the asset manager’s stock, valued at approximately $248,000.

A number of other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of Ares Management by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 16,599,345 shares of the asset manager’s stock worth $2,207,381,000 after purchasing an additional 206,996 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of Ares Management by 58.5% during 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 acquiring an additional 1,867,933 shares in the last quarter. LRI Investments LLC increased its holdings in shares of Ares Management by 49.4% in the 2nd 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 last quarter. American Century Companies Inc. increased its holdings in shares of Ares Management by 24.4% in the 2nd quarter. American Century Companies Inc. now owns 2,316,584 shares of the asset manager’s stock valued at $308,754,000 after acquiring an additional 453,657 shares during the last quarter. Finally, Principal Financial Group Inc. raised its position in shares of Ares Management by 38.5% during the 2nd quarter. Principal Financial Group Inc. now owns 2,171,188 shares of the asset manager’s stock worth $289,376,000 after acquiring an additional 603,676 shares in the last quarter. Hedge funds and other institutional investors own 50.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. JPMorgan Chase & Co. increased their price target on shares of Ares Management from $141.00 to $143.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. TD Cowen increased their target price on shares of Ares Management from $162.00 to $175.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Redburn Atlantic started coverage on shares of Ares Management in a research report on Tuesday, August 27th. They issued a “neutral” rating and a $140.00 price target for the company. The Goldman Sachs Group lifted their target price on Ares Management from $145.00 to $160.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Finally, Royal Bank of Canada upped their target price on Ares Management from $150.00 to $170.00 and gave the company an “outperform” rating in a research report on Friday, October 11th. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Ares Management has an average rating of “Moderate Buy” and an average target price of $155.82.

Insider Buying and Selling at Ares Management

In other news, insider Ryan Berry sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $142.12, for a total value of $1,421,200.00. Following the completion of the sale, the insider now directly owns 446,702 shares of the company’s stock, valued at $63,485,288.24. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Ares Management news, insider David B. Kaplan sold 27,068 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $145.67, for a total transaction of $3,942,995.56. Following the transaction, the insider now directly owns 222,932 shares in the company, valued at approximately $32,474,504.44. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Ryan Berry sold 10,000 shares of Ares Management stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $142.12, for a total transaction of $1,421,200.00. Following the sale, the insider now owns 446,702 shares of the company’s stock, valued at approximately $63,485,288.24. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 622,640 shares of company stock valued at $91,378,848. 1.20% of the stock is owned by corporate insiders.

Ares Management Trading Down 0.7 %

Shares of ARES stock opened at $168.64 on Tuesday. Ares Management Co. has a twelve month low of $96.00 and a twelve month high of $171.76. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.52. The business’s 50 day moving average is $151.56 and its two-hundred day moving average is $143.29. The company has a market capitalization of $52.25 billion, a P/E ratio of 75.62, a price-to-earnings-growth ratio of 1.48 and a beta of 1.22.

Ares Management (NYSE:ARES) last posted its quarterly earnings data on Friday, August 2nd. The asset manager reported $0.99 earnings per share for the quarter, beating analysts’ consensus estimates of $0.98 by $0.01. The firm had revenue of $788.68 million for 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 period last year, the firm posted $0.90 EPS. Equities analysts forecast that Ares Management Co. will post 4.16 EPS for the current year.

Ares Management Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were given a $0.93 dividend. The ex-dividend date was Monday, September 16th. This represents a $3.72 dividend on an annualized basis and a yield of 2.21%. Ares Management’s payout ratio is currently 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.