5,775 Shares in Ares Management Co. (NYSE:ARES) Acquired by GSA Capital Partners LLP

GSA Capital Partners LLP acquired a new stake in Ares Management Co. (NYSE:ARES) in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund acquired 5,775 shares of the asset manager’s stock, valued at approximately $900,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Eastern Bank bought a new position in shares of Ares Management in the third quarter valued at about $39,000. West Oak Capital LLC raised its stake in shares of Ares Management by 40.0% in the second quarter. West Oak Capital LLC now owns 350 shares of the asset manager’s stock worth $47,000 after acquiring an additional 100 shares during the last quarter. Key Financial Inc bought a new position in shares of Ares Management in the second quarter worth about $53,000. EntryPoint Capital LLC acquired a new position in shares of Ares Management during the first quarter worth approximately $54,000. Finally, Industrial Alliance Investment Management Inc. increased its holdings in shares of Ares Management by 80.4% in the second quarter. Industrial Alliance Investment Management Inc. now owns 451 shares of the asset manager’s stock valued at $60,000 after purchasing an additional 201 shares in the last quarter. Institutional investors and hedge funds own 50.03% of the company’s stock.

Wall Street Analysts Forecast Growth

ARES has been the topic of several research reports. The Goldman Sachs Group upped their price objective on Ares Management from $145.00 to $160.00 and gave the stock a “buy” rating in a report on Monday, September 30th. Deutsche Bank Aktiengesellschaft raised their price target on Ares Management from $146.00 to $150.00 and gave the company a “hold” rating in a report on Monday, November 11th. Redburn Atlantic assumed coverage on Ares Management in a report on Tuesday, August 27th. They set a “neutral” rating and a $140.00 price objective for the company. Wells Fargo & Company raised their target price on shares of Ares Management from $172.00 to $176.00 and gave the company an “equal weight” rating in a research note on Monday, November 4th. Finally, Royal Bank of Canada boosted their price target on shares of Ares Management from $170.00 to $185.00 and gave the stock an “outperform” rating in a research note on Monday, November 4th. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $166.36.

Insider Activity

In other Ares Management news, Chairman Bennett Rosenthal sold 10,154 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $144.46, for a total value of $1,466,846.84. Following the sale, the chairman now owns 191,508 shares in the company, valued at approximately $27,665,245.68. The trade was a 5.04 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Ryan Berry sold 1,671 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $175.00, for a total transaction of $292,425.00. Following the transaction, the insider now directly owns 253,214 shares of the company’s stock, valued at $44,312,450. This represents a 0.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 561,280 shares of company stock worth $83,030,436 over the last quarter. 1.20% of the stock is currently owned by company insiders.

Ares Management Trading Down 1.1 %

Shares of NYSE ARES opened at $167.21 on Friday. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.53. Ares Management Co. has a twelve month low of $101.44 and a twelve month high of $175.74. The company’s fifty day moving average is $160.74 and its 200-day moving average is $147.79. The stock has a market cap of $52.35 billion, a price-to-earnings ratio of 77.06, a P/E/G ratio of 1.82 and a beta of 1.20.

Ares Management (NYSE:ARES) last posted its earnings results on Friday, November 1st. The asset manager reported $0.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.94 by $0.01. The firm had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $833.58 million. Ares Management had a return on equity of 19.89% and a net margin of 12.51%. During the same period in the previous year, the firm earned $0.83 earnings per share. Equities research analysts predict that Ares Management Co. will post 4.07 EPS for the current year.

Ares Management Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th will be paid a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date of this dividend is Tuesday, December 17th. Ares Management’s payout ratio is currently 171.43%.

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.