Ares Management Co. (NYSE:ARES) Shares Purchased by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. grew its holdings in shares of Ares Management Co. (NYSE:ARES) by 1.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 30,774 shares of the asset manager’s stock after acquiring an additional 472 shares during the period. PNC Financial Services Group Inc.’s holdings in Ares Management were worth $4,796,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of ARES. Massachusetts Financial Services Co. MA increased its holdings in Ares Management by 58.5% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 5,058,394 shares of the asset manager’s stock worth $674,183,000 after purchasing an additional 1,867,933 shares during the last quarter. Principal Financial Group Inc. increased its stake in shares of Ares Management by 31.3% in the third quarter. Principal Financial Group Inc. now owns 2,849,737 shares of the asset manager’s stock worth $444,103,000 after buying an additional 678,549 shares during the last quarter. LRI Investments LLC raised its holdings in Ares Management by 49.4% in the second quarter. LRI Investments LLC now owns 2,822,565 shares of the asset manager’s stock valued at $376,191,000 after acquiring an additional 933,664 shares in the last quarter. American Century Companies Inc. boosted its stake in Ares Management by 24.4% during the 2nd quarter. American Century Companies Inc. now owns 2,316,584 shares of the asset manager’s stock valued at $308,754,000 after acquiring an additional 453,657 shares during the last quarter. Finally, Millennium Management LLC grew its holdings in Ares Management by 722.6% during the 2nd quarter. Millennium Management LLC now owns 1,738,148 shares of the asset manager’s stock worth $231,660,000 after acquiring an additional 1,526,856 shares in the last quarter. 50.03% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Ares Management

In other Ares Management news, 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 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. This trade represents a 11.18 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Michael J. Arougheti sold 18,232 shares of the business’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $175.54, for a total value of $3,200,445.28. Following the completion of the sale, the chief executive officer now directly owns 116,201 shares in the company, valued at $20,397,923.54. This represents a 13.56 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 651,628 shares of company stock worth $102,226,989 in the last 90 days. Corporate insiders own 1.20% of the company’s stock.

Ares Management Trading Up 0.3 %

Ares Management stock opened at $175.52 on Friday. Ares Management Co. has a 52-week low of $107.69 and a 52-week high of $176.83. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.53. The firm has a market capitalization of $54.95 billion, a price-to-earnings ratio of 80.88, a PEG ratio of 1.91 and a beta of 1.20. The firm has a 50-day moving average price of $163.69 and a two-hundred day moving average price of $149.21.

Ares Management (NYSE:ARES) last issued its quarterly earnings data on Friday, November 1st. The asset manager reported $0.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.94 by $0.01. The business had revenue of $1.13 billion during the quarter, compared to analyst estimates of $833.58 million. Ares Management had a return on equity of 19.89% and a net margin of 12.51%. During the same period in the prior year, the company posted $0.83 EPS. Sell-side analysts expect that Ares Management Co. will post 4.06 earnings per share for the current year.

Ares Management Dividend Announcement

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 $0.93 dividend. This represents a $3.72 annualized dividend and a yield of 2.12%. The ex-dividend date is Tuesday, December 17th. Ares Management’s payout ratio is currently 171.43%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on ARES. Wells Fargo & Company increased their price target on shares of Ares Management from $172.00 to $176.00 and gave the stock an “equal weight” rating in a research report on Monday, November 4th. UBS Group increased their target price on Ares Management from $158.00 to $195.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Morgan Stanley upped their price target on Ares Management from $136.00 to $162.00 and gave the company an “equal weight” rating in a research report on Thursday, October 10th. TD Cowen lifted their price objective on shares of Ares Management from $184.00 to $187.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Finally, The Goldman Sachs Group increased their target price on shares of Ares Management from $145.00 to $160.00 and gave the stock a “buy” rating in a report on Monday, September 30th. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $166.36.

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.