ASB Consultores LLC Takes Position in Ares Management Co. (NYSE:ARES)

ASB Consultores LLC purchased a new stake in shares of Ares Management Co. (NYSE:ARES) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,300 shares of the asset manager’s stock, valued at approximately $203,000.

Other large investors have also made changes to their positions in the company. Gulf International Bank UK Ltd grew its holdings in Ares Management by 8.0% during the 3rd quarter. Gulf International Bank UK Ltd now owns 14,494 shares of the asset manager’s stock worth $2,258,000 after acquiring an additional 1,074 shares during the period. Catalyst Capital Advisors LLC grew its stake in shares of Ares Management by 5.6% during the third quarter. Catalyst Capital Advisors LLC now owns 2,623 shares of the asset manager’s stock worth $409,000 after purchasing an additional 138 shares during the period. Asset Management One Co. Ltd. increased its holdings in Ares Management by 4.1% in the third quarter. Asset Management One Co. Ltd. now owns 68,791 shares of the asset manager’s stock valued at $10,720,000 after purchasing an additional 2,725 shares during the last quarter. Forum Financial Management LP acquired a new position in Ares Management in the third quarter valued at about $224,000. Finally, Van ECK Associates Corp boosted its holdings in Ares Management by 15.1% during the third quarter. Van ECK Associates Corp now owns 7,924 shares of the asset manager’s stock worth $1,326,000 after buying an additional 1,042 shares during the last quarter. Institutional investors and hedge funds own 50.03% of the company’s stock.

Insider Transactions at Ares Management

In related news, insider David B. Kaplan sold 27,068 shares of Ares Management stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $145.67, for a total value of $3,942,995.56. Following the sale, the insider now owns 222,932 shares of the company’s stock, valued at approximately $32,474,504.44. 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 can be accessed through the SEC website. In related news, insider David B. Kaplan sold 27,068 shares of the firm’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 of the company’s stock, valued at approximately $32,474,504.44. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Ryan Berry sold 40,000 shares of the business’s stock in a transaction on Thursday, October 17th. The stock was sold at an average price of $167.99, for a total transaction of $6,719,600.00. Following the transaction, the insider now owns 304,202 shares in the company, valued at approximately $51,102,893.98. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 622,640 shares of company stock worth $91,378,848 in the last three months. Insiders own 41.89% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. UBS Group upped their price target on Ares Management from $158.00 to $195.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Morgan Stanley increased their target price on shares of Ares Management from $136.00 to $162.00 and gave the stock an “equal weight” rating in a report on Thursday, October 10th. Barclays boosted their price target on shares of Ares Management from $155.00 to $174.00 and gave the company an “overweight” rating in a report on Monday, October 7th. Royal Bank of Canada raised their price objective on Ares Management from $170.00 to $185.00 and gave the stock an “outperform” rating in a research note on Monday. Finally, JPMorgan Chase & Co. decreased their target price on Ares Management from $176.00 to $174.00 and set an “overweight” rating for the company in a research note on Tuesday. Six equities 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, the stock has an average rating of “Moderate Buy” and a consensus target price of $166.00.

Ares Management Stock Up 3.0 %

ARES stock opened at $164.53 on Wednesday. The business has a 50-day moving average of $156.49 and a 200-day moving average of $146.00. Ares Management Co. has a fifty-two week low of $101.44 and a fifty-two week high of $171.78. The stock has a market capitalization of $51.50 billion, a P/E ratio of 75.82, a P/E/G ratio of 1.56 and a beta of 1.20. 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 issued its quarterly earnings results on Friday, November 1st. The asset manager reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.94 by $0.01. The company had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $833.58 million. Ares Management had a net margin of 12.51% and a return on equity of 20.51%. During the same period last year, the business earned $0.83 EPS. On average, sell-side analysts anticipate that Ares Management Co. will post 4.11 earnings per share for the current fiscal year.

Ares Management Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th will be given a dividend of $0.93 per share. The ex-dividend date of this dividend is Tuesday, December 17th. This represents a $3.72 annualized dividend and a yield of 2.26%. Ares Management’s dividend payout ratio (DPR) is presently 171.43%.

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.