Nemes Rush Group LLC Boosts Position in Ares Management Co. (NYSE:ARES)

Nemes Rush Group LLC lifted its position in Ares Management Co. (NYSE:ARES) by 191.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 869 shares of the asset manager’s stock after buying an additional 571 shares during the quarter. Nemes Rush Group LLC’s holdings in Ares Management were worth $116,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Grayhawk Investment Strategies Inc. purchased a new position in Ares Management during the fourth quarter worth about $1,100,000. EP Wealth Advisors LLC lifted its position in Ares Management by 32.5% during the first quarter. EP Wealth Advisors LLC now owns 20,345 shares of the asset manager’s stock valued at $2,705,000 after purchasing an additional 4,996 shares during the last quarter. Norden Group LLC lifted its position in Ares Management by 2,695.3% during the first quarter. Norden Group LLC now owns 70,414 shares of the asset manager’s stock valued at $9,364,000 after purchasing an additional 67,895 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its stake in Ares Management by 17.7% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 397,285 shares of the asset manager’s stock worth $52,831,000 after buying an additional 59,668 shares in the last quarter. Finally, FORA Capital LLC purchased a new stake in shares of Ares Management during the 1st quarter valued at $3,434,000. 50.03% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

ARES has been the topic of several recent research reports. TD Cowen increased their price objective on Ares Management from $158.00 to $162.00 and gave the company a “buy” rating in a research report on Monday, August 5th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Ares Management from $134.00 to $133.00 and set a “hold” rating for the company in a report on Thursday, August 15th. JPMorgan Chase & Co. lifted their target price on shares of Ares Management from $141.00 to $143.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Wells Fargo & Company initiated coverage on Ares Management in a research note on Thursday, September 12th. They set an “equal weight” rating and a $156.00 price objective on the stock. Finally, UBS Group dropped their target price on Ares Management from $160.00 to $158.00 and set a “buy” rating for the company in a report on Wednesday, July 10th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $141.42.

Ares Management Price Performance

Shares of NYSE:ARES opened at $156.91 on Monday. Ares Management Co. has a 1-year low of $96.00 and a 1-year high of $159.95. The business has a fifty day moving average price of $146.06 and a 200-day moving average price of $140.08. The company has a market capitalization of $48.61 billion, a PE ratio of 70.36, a PEG ratio of 1.47 and a beta of 1.21. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.05 and a quick ratio of 1.05.

Ares Management (NYSE:ARES) last announced its quarterly earnings results on Friday, August 2nd. The asset manager reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.01. The company had revenue of $788.68 million during the quarter, compared to the consensus estimate of $860.09 million. Ares Management had a net margin of 12.53% and a return on equity of 20.46%. During the same quarter last year, the firm earned $0.90 earnings per share. As a group, equities analysts expect that Ares Management Co. will post 4.15 EPS for the current fiscal year.

Ares Management Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be paid a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a yield of 2.37%. The ex-dividend date is Monday, September 16th. Ares Management’s dividend payout ratio is currently 166.82%.

Insider Activity

In other Ares Management news, Chairman Bennett Rosenthal sold 27,172 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $145.67, for a total transaction of $3,958,145.24. Following the completion of the sale, the chairman now directly owns 222,828 shares in the company, valued at approximately $32,459,354.76. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Ares Management news, Chairman Bennett Rosenthal sold 27,172 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $145.67, for a total value of $3,958,145.24. Following the completion of the transaction, the chairman now directly owns 222,828 shares in the company, valued at $32,459,354.76. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Ryan Berry sold 57,500 shares of the stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $140.74, for a total value of $8,092,550.00. Following the completion of the sale, the insider now owns 456,702 shares of the company’s stock, valued at approximately $64,276,239.48. The disclosure for this sale can be found here. Insiders have sold a total of 604,316 shares of company stock valued at $87,718,000 in the last 90 days. 1.20% of the stock is currently owned by 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.