Ares Management Co. (NYSE:ARES) Shares Acquired by Procyon Advisors LLC

Procyon Advisors LLC lifted its stake in shares of Ares Management Co. (NYSE:ARES) by 56.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,252 shares of the asset manager’s stock after buying an additional 1,177 shares during the quarter. Procyon Advisors LLC’s holdings in Ares Management were worth $507,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. EP Wealth Advisors LLC grew its position in shares of Ares Management by 32.5% during the first quarter. EP Wealth Advisors LLC now owns 20,345 shares of the asset manager’s stock worth $2,705,000 after buying an additional 4,996 shares in the last quarter. Norden Group LLC lifted its stake 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 worth $9,364,000 after purchasing an additional 67,895 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in Ares Management by 17.7% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 397,285 shares of the asset manager’s stock worth $52,831,000 after purchasing an additional 59,668 shares during the last quarter. FORA Capital LLC bought a new position in Ares Management during the first quarter worth $3,434,000. Finally, Vaughan Nelson Investment Management L.P. lifted its stake in Ares Management by 24.6% during the second quarter. Vaughan Nelson Investment Management L.P. now owns 192,634 shares of the asset manager’s stock worth $25,674,000 after purchasing an additional 38,047 shares during the last quarter. Institutional investors and hedge funds own 50.03% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft reduced their price objective on Ares Management from $134.00 to $133.00 and set a “hold” rating on the stock in a research note on Thursday, August 15th. Royal Bank of Canada raised their price objective on Ares Management from $150.00 to $170.00 and gave the stock an “outperform” rating in a research note on Friday, October 11th. Wells Fargo & Company raised their price objective on Ares Management from $156.00 to $172.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 9th. Morgan Stanley raised their target price on Ares Management from $136.00 to $162.00 and gave the company an “equal weight” rating in a research note on Thursday, October 10th. Finally, JPMorgan Chase & Co. raised their target price on Ares Management from $141.00 to $143.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $155.82.

Insider Buying and Selling

In related news, insider Ryan Berry sold 20,000 shares of Ares Management stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $160.07, for a total transaction of $3,201,400.00. Following the transaction, the insider now directly owns 344,202 shares of the company’s stock, valued at $55,096,414.14. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Ryan Berry sold 20,000 shares of Ares Management stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $160.07, for a total transaction of $3,201,400.00. Following the transaction, the insider now directly owns 344,202 shares of the company’s stock, valued at $55,096,414.14. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Bennett Rosenthal sold 75,000 shares of Ares Management stock in a transaction dated Thursday, September 12th. The stock was 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. Insiders have sold a total of 624,316 shares of company stock valued at $90,919,400 over the last three months. Company insiders own 1.20% of the company’s stock.

Ares Management Price Performance

Shares of NYSE ARES opened at $162.69 on Wednesday. Ares Management Co. has a fifty-two week low of $96.00 and a fifty-two week high of $164.60. The firm’s 50-day simple moving average is $149.27 and its 200 day simple moving average is $142.28. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.52. The stock has a market cap of $50.40 billion, a P/E ratio of 72.96, a P/E/G ratio of 1.48 and a beta of 1.22.

Ares Management (NYSE:ARES) last issued its quarterly earnings data on Friday, August 2nd. The asset manager reported $0.99 earnings per share 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 business had revenue of $788.68 million for the quarter, compared to analysts’ expectations of $860.09 million. During the same period in the previous year, the business earned $0.90 earnings per share. Equities analysts expect that Ares Management Co. will post 4.16 EPS for the current year.

Ares Management Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were issued a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a yield of 2.29%. The ex-dividend date was Monday, September 16th. Ares Management’s payout ratio is currently 166.82%.

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.