Farther Finance Advisors LLC Acquires 1,042 Shares of Ares Management Co. (NYSE:ARES)

Farther Finance Advisors LLC raised its holdings in shares of Ares Management Co. (NYSE:ARES) by 22.8% in the third quarter, Holdings Channel.com reports. The firm owned 5,606 shares of the asset manager’s stock after purchasing an additional 1,042 shares during the period. Farther Finance Advisors LLC’s holdings in Ares Management were worth $874,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in ARES. Sequoia Financial Advisors LLC increased its position in shares of Ares Management by 3.9% during the third quarter. Sequoia Financial Advisors LLC now owns 2,560 shares of the asset manager’s stock valued at $399,000 after acquiring an additional 95 shares in the last quarter. Whittier Trust Co. of Nevada Inc. boosted its stake in shares of Ares Management by 21.0% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 559 shares of the asset manager’s stock worth $87,000 after acquiring an additional 97 shares during the last quarter. West Oak Capital LLC lifted its stake in shares of Ares Management by 40.0% during the 2nd quarter. West Oak Capital LLC now owns 350 shares of the asset manager’s stock valued at $47,000 after buying an additional 100 shares in the last quarter. First Horizon Advisors Inc. lifted its stake in shares of Ares Management by 10.8% during the 2nd quarter. First Horizon Advisors Inc. now owns 1,073 shares of the asset manager’s stock valued at $143,000 after buying an additional 105 shares in the last quarter. Finally, Americana Partners LLC lifted its stake in shares of Ares Management by 7.2% during the 2nd quarter. Americana Partners LLC now owns 1,613 shares of the asset manager’s stock valued at $215,000 after buying an additional 108 shares in the last quarter. Institutional investors own 50.03% of the company’s stock.

Ares Management Trading Down 1.4 %

NYSE ARES opened at $159.68 on Tuesday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.05 and a quick ratio of 1.05. The firm’s fifty day moving average price is $156.13 and its 200 day moving average price is $145.76. The company has a market capitalization of $49.98 billion, a price-to-earnings ratio of 73.59, a price-to-earnings-growth ratio of 1.61 and a beta of 1.20. Ares Management Co. has a 12 month low of $101.44 and a 12 month high of $171.78.

Ares Management (NYSE:ARES) last issued its quarterly earnings results on Friday, August 2nd. The asset manager reported $0.99 earnings per share (EPS) for the quarter, topping 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 analyst estimates of $860.09 million. During the same period in the previous year, the business posted $0.90 earnings per share. On average, sell-side analysts expect that Ares Management Co. will post 4.11 earnings per share for the current fiscal year.

Ares Management Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th will be issued a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a yield of 2.33%. The ex-dividend date is Tuesday, December 17th. Ares Management’s dividend payout ratio is currently 171.43%.

Insider Buying and Selling at Ares Management

In related news, Chairman Bennett Rosenthal sold 10,154 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $144.46, for a total transaction of $1,466,846.84. Following the transaction, the chairman now owns 191,508 shares of the company’s stock, valued at approximately $27,665,245.68. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, insider David B. Kaplan sold 27,068 shares of the company’s stock in a transaction 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. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Bennett Rosenthal sold 10,154 shares of the stock in a transaction on Monday, August 19th. The shares were sold at an average price of $144.46, for a total transaction of $1,466,846.84. Following the transaction, the chairman now owns 191,508 shares in the company, valued at $27,665,245.68. This trade represents 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 over the last quarter. Corporate insiders own 1.20% of the company’s stock.

Analyst Upgrades and Downgrades

ARES has been the topic of several research analyst reports. UBS Group boosted their price target on shares of Ares Management from $158.00 to $195.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Wells Fargo & Company boosted their target price on shares of Ares Management from $172.00 to $176.00 and gave the stock an “equal weight” rating in a report on Monday. 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 report on Thursday, October 10th. Redburn Atlantic initiated coverage on shares of Ares Management in a research report on Tuesday, August 27th. They issued a “neutral” rating and a $140.00 price target for the company. Finally, Barclays increased their target price on shares of Ares Management from $155.00 to $174.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. Six analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, Ares Management has a consensus rating of “Moderate Buy” and a consensus price target of $163.18.

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.