Ares Management Co. (NYSE:ARES) Shares Bought by Signaturefd LLC

Signaturefd LLC lifted its stake in shares of Ares Management Co. (NYSE:ARES) by 28.1% during the third quarter, Holdings Channel reports. The fund owned 2,011 shares of the asset manager’s stock after purchasing an additional 441 shares during the quarter. Signaturefd LLC’s holdings in Ares Management were worth $313,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. EP Wealth Advisors LLC increased its holdings in Ares Management by 32.5% during the 1st quarter. EP Wealth Advisors LLC now owns 20,345 shares of the asset manager’s stock worth $2,705,000 after purchasing an additional 4,996 shares during the last quarter. Norden Group LLC lifted its holdings in shares of 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. lifted its holdings in shares of 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 valued at $52,831,000 after purchasing an additional 59,668 shares during the last quarter. FORA Capital LLC purchased a new stake in shares of Ares Management during the first quarter valued at $3,434,000. Finally, Vaughan Nelson Investment Management L.P. raised its position 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 valued at $25,674,000 after buying an additional 38,047 shares during the period. 50.03% of the stock is owned by institutional investors and hedge funds.

Ares Management Stock Down 0.8 %

NYSE ARES opened at $169.47 on Friday. The business has a fifty day moving average price of $153.55 and a two-hundred day moving average price of $144.12. 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 Co. has a fifty-two week low of $96.00 and a fifty-two week high of $171.78. The stock has a market capitalization of $52.50 billion, a PE ratio of 76.00, a PEG ratio of 1.48 and a beta of 1.22.

Ares Management (NYSE:ARES) last posted 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. The business had revenue of $788.68 million during the quarter, compared to the consensus estimate of $860.09 million. Ares Management had a return on equity of 20.46% and a net margin of 12.53%. During the same period in the prior year, the business posted $0.90 earnings per share. Equities analysts expect that Ares Management Co. will post 4.16 earnings per share for the current fiscal year.

Ares Management Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were given a dividend of $0.93 per share. The ex-dividend date was Monday, September 16th. This represents a $3.72 dividend on an annualized basis and a dividend yield of 2.20%. Ares Management’s dividend payout ratio (DPR) is presently 166.82%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on ARES shares. Redburn Atlantic started coverage on Ares Management in a research report on Tuesday, August 27th. They issued a “neutral” rating and a $140.00 target price on the stock. Royal Bank of Canada increased 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. Wells Fargo & Company increased their target price on Ares Management from $156.00 to $172.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 9th. JPMorgan Chase & Co. raised their price objective on Ares Management from $141.00 to $143.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Finally, The Goldman Sachs Group raised their target price on Ares Management from $145.00 to $160.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $159.18.

Insider Transactions at Ares Management

In related news, insider David B. Kaplan sold 27,068 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $145.67, for a total value of $3,942,995.56. Following the transaction, the insider now owns 222,932 shares of the company’s stock, valued at approximately $32,474,504.44. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider David B. Kaplan sold 27,068 shares of Ares Management 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 $3,942,995.56. Following the completion of the transaction, the insider now directly owns 222,932 shares in the company, valued at approximately $32,474,504.44. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Ryan Berry sold 57,500 shares of the firm’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $140.74, for a total transaction of $8,092,550.00. Following the completion of the transaction, the insider now directly owns 456,702 shares of the company’s stock, valued at approximately $64,276,239.48. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 622,640 shares of company stock valued at $91,378,848 in the last 90 days. 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.