Ares Management Co. (NYSE:ARES) Holdings Boosted by Huntington National Bank

Huntington National Bank grew its stake in shares of Ares Management Co. (NYSE:ARES) by 54.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 641 shares of the asset manager’s stock after purchasing an additional 226 shares during the quarter. Huntington National Bank’s holdings in Ares Management were worth $100,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in ARES. KBC Group NV boosted its position in Ares Management by 3.6% during the 3rd quarter. KBC Group NV now owns 26,780 shares of the asset manager’s stock valued at $4,173,000 after purchasing an additional 923 shares during the period. Oppenheimer Asset Management Inc. boosted its holdings in shares of Ares Management by 103.3% during the third quarter. Oppenheimer Asset Management Inc. now owns 4,315 shares of the asset manager’s stock valued at $672,000 after acquiring an additional 2,192 shares during the period. Chase Investment Counsel Corp grew its position in shares of Ares Management by 2.1% during the third quarter. Chase Investment Counsel Corp now owns 33,795 shares of the asset manager’s stock worth $5,266,000 after acquiring an additional 689 shares during the last quarter. Victory Capital Management Inc. increased its holdings in shares of Ares Management by 6.5% in the 3rd quarter. Victory Capital Management Inc. now owns 65,417 shares of the asset manager’s stock worth $10,195,000 after acquiring an additional 4,000 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. lifted its position in Ares Management by 2.8% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 406,363 shares of the asset manager’s stock valued at $63,328,000 after purchasing an additional 10,942 shares during the last quarter. 50.03% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ARES has been the subject of several recent analyst reports. The Goldman Sachs Group upped their target price on shares of Ares Management from $145.00 to $160.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Deutsche Bank Aktiengesellschaft raised their target price on Ares Management from $146.00 to $150.00 and gave the company a “hold” rating in a research report on Monday, November 11th. Royal Bank of Canada boosted their price target on Ares Management from $170.00 to $185.00 and gave the stock an “outperform” rating in a research report on Monday, November 4th. UBS Group raised their price target on Ares Management from $158.00 to $195.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. Finally, Redburn Atlantic assumed coverage on shares of Ares Management in a report on Tuesday, August 27th. They issued a “neutral” rating and a $140.00 price objective for the company. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, Ares Management presently has a consensus rating of “Moderate Buy” and a consensus price target of $166.36.

Insider Transactions at Ares Management

In other Ares Management news, Chairman Bennett Rosenthal sold 75,000 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $143.05, for a total transaction of $10,728,750.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Ryan Berry sold 1,671 shares of the firm’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $175.00, for a total transaction of $292,425.00. Following the completion of the transaction, the insider now owns 253,214 shares of the company’s stock, valued at approximately $44,312,450. The trade was a 0.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 530,453 shares of company stock valued at $78,577,065 in the last three months. 1.20% of the stock is currently owned by corporate insiders.

Ares Management Price Performance

Shares of Ares Management stock opened at $167.21 on Monday. Ares Management Co. has a 52 week low of $101.44 and a 52 week high of $175.74. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.53. The stock has a market cap of $52.35 billion, a PE ratio of 77.06, a price-to-earnings-growth ratio of 1.82 and a beta of 1.20. The company’s 50-day moving average price is $160.74 and its two-hundred day moving average price is $147.89.

Ares Management (NYSE:ARES) last released its earnings results on Friday, November 1st. The asset manager reported $0.95 EPS for the quarter, topping analysts’ consensus estimates of $0.94 by $0.01. Ares Management had a net margin of 12.51% and a return on equity of 19.89%. The business had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $833.58 million. During the same period in the previous year, the firm earned $0.83 EPS. As a group, sell-side analysts anticipate that Ares Management Co. will post 4.07 EPS for the current fiscal year.

Ares Management Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th will be given a dividend of $0.93 per share. The ex-dividend date of this dividend is Tuesday, December 17th. This represents a $3.72 dividend on an annualized basis and a dividend yield of 2.22%. Ares Management’s dividend payout ratio (DPR) is presently 171.43%.

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.