Glenmede Trust Co. NA Sells 82 Shares of Ares Management Co. (NYSE:ARES)

Glenmede Trust Co. NA cut its stake in Ares Management Co. (NYSE:ARES) by 1.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,762 shares of the asset manager’s stock after selling 82 shares during the quarter. Glenmede Trust Co. NA’s holdings in Ares Management were worth $898,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also bought and sold shares of the company. Cetera Investment Advisers lifted its position in shares of Ares Management by 45.9% during the first quarter. Cetera Investment Advisers now owns 82,717 shares of the asset manager’s stock valued at $11,000,000 after purchasing an additional 26,012 shares in the last quarter. DekaBank Deutsche Girozentrale grew its holdings in shares of Ares Management by 5.7% in the first quarter. DekaBank Deutsche Girozentrale now owns 44,145 shares of the asset manager’s stock valued at $5,850,000 after acquiring an additional 2,399 shares in the last quarter. QRG Capital Management Inc. increased its position in shares of Ares Management by 40.9% during the second quarter. QRG Capital Management Inc. now owns 2,298 shares of the asset manager’s stock valued at $306,000 after acquiring an additional 667 shares during the last quarter. Curated Wealth Partners LLC lifted its holdings in Ares Management by 199.7% during the second quarter. Curated Wealth Partners LLC now owns 1,658,217 shares of the asset manager’s stock worth $221,007,000 after acquiring an additional 3,321,434 shares during the period. Finally, Coastline Trust Co boosted its position in Ares Management by 2.8% in the second quarter. Coastline Trust Co now owns 26,914 shares of the asset manager’s stock worth $3,587,000 after purchasing an additional 730 shares during the last quarter. 50.03% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

ARES has been the subject of a number of research analyst reports. The Goldman Sachs Group raised their price objective on shares of Ares Management from $145.00 to $160.00 and gave the stock a “buy” rating in a report on Monday, September 30th. Royal Bank of Canada raised their price objective on shares of Ares Management from $170.00 to $185.00 and gave the company an “outperform” rating in a research report on Monday, November 4th. UBS Group upped their target price on Ares Management from $158.00 to $195.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. JPMorgan Chase & Co. cut their price target on shares of Ares Management from $176.00 to $174.00 and set an “overweight” rating for the company in a research note on Tuesday, November 5th. Finally, Barclays increased their price target on shares of Ares Management from $155.00 to $174.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. 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 currently has an average rating of “Moderate Buy” and an average price target of $166.36.

Ares Management Stock Performance

Shares of NYSE:ARES opened at $173.94 on Tuesday. 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 company has a 50-day moving average price of $166.32 and a 200-day moving average price of $150.62. The company has a market cap of $54.45 billion, a price-to-earnings ratio of 80.16, a price-to-earnings-growth ratio of 1.92 and a beta of 1.20. Ares Management Co. has a 12 month low of $107.69 and a 12 month high of $180.38.

Ares Management (NYSE:ARES) last released its quarterly earnings results on Friday, November 1st. The asset manager reported $0.95 EPS for the quarter, beating analysts’ consensus estimates of $0.94 by $0.01. Ares Management had a return on equity of 19.89% and a net margin of 12.51%. The business had revenue of $1.13 billion during the quarter, compared to analyst estimates of $833.58 million. During the same quarter in the prior year, the company posted $0.83 EPS. As a group, equities analysts anticipate that Ares Management Co. will post 4.06 EPS for the current year.

Ares Management Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th will be given a $0.93 dividend. The ex-dividend date of this dividend is Tuesday, December 17th. This represents a $3.72 annualized dividend and a dividend yield of 2.14%. Ares Management’s dividend payout ratio is 171.43%.

Insider Buying and Selling at Ares Management

In related news, CEO Michael J. Arougheti sold 20,096 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $167.44, for a total value of $3,364,874.24. Following the sale, the chief executive officer now owns 229,904 shares in the company, valued at $38,495,125.76. This represents a 8.04 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Chairman Bennett Rosenthal sold 75,000 shares of Ares Management 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 disclosure for this sale can be found here. In the last three months, insiders have sold 666,030 shares of company stock valued at $109,779,010. 1.20% of the stock is currently owned by corporate insiders.

About Ares Management

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.