250 Shares in Ares Management Co. (NYSE:ARES) Purchased by Eastern Bank

Eastern Bank purchased a new position in shares of Ares Management Co. (NYSE:ARES) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 250 shares of the asset manager’s stock, valued at approximately $39,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Xcel Wealth Management LLC acquired a new position in Ares Management in the 3rd quarter valued at about $203,000. Signaturefd LLC boosted its holdings in Ares Management by 28.1% in the 3rd quarter. Signaturefd LLC now owns 2,011 shares of the asset manager’s stock valued at $313,000 after purchasing an additional 441 shares during the last quarter. Sequoia Financial Advisors LLC boosted its holdings in Ares Management by 3.9% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 2,560 shares of the asset manager’s stock valued at $399,000 after purchasing an additional 95 shares during the last quarter. Whittier Trust Co. of Nevada Inc. boosted its holdings in Ares Management by 21.0% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 559 shares of the asset manager’s stock valued at $87,000 after purchasing an additional 97 shares during the last quarter. Finally, Whittier Trust Co. boosted its holdings in Ares Management by 7.2% in the 3rd quarter. Whittier Trust Co. now owns 2,265 shares of the asset manager’s stock valued at $353,000 after purchasing an additional 152 shares during the last quarter. 50.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Ares Management

In other news, insider Ryan Berry sold 10,000 shares of the company’s stock in a transaction on 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 approximately $63,485,288.24. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, Chairman Bennett Rosenthal sold 75,000 shares of the company’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $143.05, for a total value of $10,728,750.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Ryan Berry sold 10,000 shares of the company’s stock in a transaction 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 completion of the transaction, 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 position. The disclosure for this sale can be found here. In the last three months, insiders have sold 622,640 shares of company stock valued at $91,378,848. Insiders own 1.20% of the company’s stock.

Ares Management Trading Down 0.8 %

Shares of NYSE:ARES opened at $169.47 on Friday. Ares Management Co. has a 52 week low of $96.00 and a 52 week high of $171.78. The company’s 50 day moving average is $153.55 and its two-hundred day moving average is $144.12. 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 company has a market cap of $52.50 billion, a PE ratio of 76.00, a P/E/G ratio of 1.48 and a beta of 1.22.

Ares Management (NYSE:ARES) last announced its quarterly earnings data on Friday, August 2nd. The asset manager reported $0.99 EPS for the quarter, beating analysts’ consensus estimates of $0.98 by $0.01. Ares Management had a net margin of 12.53% and a return on equity of 20.46%. The company had revenue of $788.68 million for the quarter, compared to the consensus estimate of $860.09 million. During the same period in the prior year, the firm posted $0.90 EPS. Equities analysts predict that Ares Management Co. will post 4.16 earnings per share for the current fiscal year.

Ares Management Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were given a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a dividend yield of 2.20%. The ex-dividend date was Monday, September 16th. Ares Management’s dividend payout ratio is presently 166.82%.

Wall Street Analyst Weigh In

ARES has been the topic of a number of research analyst reports. The Goldman Sachs Group boosted their price target on shares of Ares Management from $145.00 to $160.00 and gave the company a “buy” rating in a research note on Monday, September 30th. Deutsche Bank Aktiengesellschaft reduced their price target 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. UBS Group boosted their price target on shares of Ares Management from $158.00 to $195.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. JPMorgan Chase & Co. boosted 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. Finally, Wells Fargo & Company upped their target price on shares of Ares Management from $156.00 to $172.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 9th. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $159.18.

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.