SeaCrest Wealth Management LLC Makes New $201,000 Investment in Ares Management Co. (NYSE:ARES)

SeaCrest Wealth Management LLC bought a new stake in Ares Management Co. (NYSE:ARES) in the 3rd quarter, Holdings Channel.com reports. The firm bought 1,287 shares of the asset manager’s stock, valued at approximately $201,000.

Other large investors have also recently made changes to their positions in the company. Riverview Trust Co purchased a new stake in Ares Management in the first quarter valued at approximately $29,000. West Oak Capital LLC increased its holdings in shares of Ares Management by 66.7% in the 1st quarter. West Oak Capital LLC now owns 250 shares of the asset manager’s stock valued at $33,000 after acquiring an additional 100 shares during the period. J.Safra Asset Management Corp raised its position in Ares Management by 717.6% in the 1st quarter. J.Safra Asset Management Corp now owns 278 shares of the asset manager’s stock valued at $37,000 after purchasing an additional 244 shares during the last quarter. Key Financial Inc acquired a new stake in Ares Management during the 2nd quarter worth $53,000. Finally, EntryPoint Capital LLC purchased a new position in Ares Management during the 1st quarter worth $54,000. 50.03% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

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 value of $10,728,750.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Ares Management news, insider Ryan Berry sold 20,000 shares of the business’s stock in a transaction on Friday, October 4th. The stock was sold at an average price of $160.07, for a total value of $3,201,400.00. Following the completion of the transaction, the insider now directly owns 344,202 shares in the company, valued at approximately $55,096,414.14. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Bennett Rosenthal sold 75,000 shares of the stock in a transaction on 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. In the last quarter, insiders sold 624,316 shares of company stock worth $90,919,400. 1.20% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have recently commented on ARES shares. TD Cowen upped their target price on shares of Ares Management from $162.00 to $175.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Wells Fargo & Company increased their price objective on Ares Management from $156.00 to $172.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 9th. Royal Bank of Canada lifted their target price on Ares Management from $150.00 to $170.00 and gave the company an “outperform” rating in a research note on Friday, October 11th. UBS Group decreased their price target on Ares Management from $160.00 to $158.00 and set a “buy” rating for the company in a report on Wednesday, July 10th. Finally, Morgan Stanley boosted their price objective on shares of Ares Management from $136.00 to $162.00 and gave the company an “equal weight” rating in a research note on Thursday, October 10th. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, Ares Management presently has an average rating of “Moderate Buy” and an average price target of $155.82.

Ares Management Stock Up 0.7 %

Shares of NYSE ARES opened at $169.97 on Friday. The firm’s 50-day moving average is $151.00 and its two-hundred day moving average is $142.87. The company has a market capitalization of $52.66 billion, a PE ratio of 76.22, a price-to-earnings-growth ratio of 1.48 and a beta of 1.22. Ares Management Co. has a 12-month low of $96.00 and a 12-month high of $171.14. 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 posted its earnings results on Friday, August 2nd. The asset manager reported $0.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.98 by $0.01. The firm had revenue of $788.68 million for the quarter, compared to analyst estimates of $860.09 million. Ares Management had a return on equity of 20.46% and a net margin of 12.53%. During the same quarter in the prior year, the company earned $0.90 EPS. Equities analysts anticipate that Ares Management Co. will post 4.16 EPS for the current fiscal year.

Ares Management Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were given a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date was Monday, September 16th. Ares Management’s dividend payout ratio is presently 166.82%.

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.