XTX Topco Ltd Purchases 18,007 Shares of Ares Management Co. (NYSE:ARES)

XTX Topco Ltd increased its holdings in Ares Management Co. (NYSE:ARES) by 1,104.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,638 shares of the asset manager’s stock after acquiring an additional 18,007 shares during the quarter. XTX Topco Ltd’s holdings in Ares Management were worth $2,617,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently made changes to their positions in the stock. Compass Wealth Management LLC bought a new stake in Ares Management in the 1st quarter worth approximately $28,000. Riverview Trust Co bought a new position in Ares Management during the first quarter valued at approximately $29,000. West Oak Capital LLC grew its holdings in shares of Ares Management by 66.7% in the first quarter. West Oak Capital LLC now owns 250 shares of the asset manager’s stock valued at $33,000 after purchasing an additional 100 shares in the last quarter. TFO Wealth Partners LLC increased its holdings in shares of Ares Management by 29,200.0% in the 4th quarter. TFO Wealth Partners LLC now owns 293 shares of the asset manager’s stock worth $35,000 after buying an additional 292 shares during the last quarter. Finally, J.Safra Asset Management Corp increased its stake in Ares Management by 717.6% during the first quarter. J.Safra Asset Management Corp now owns 278 shares of the asset manager’s stock worth $37,000 after acquiring an additional 244 shares during the last quarter. 50.03% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Redburn Atlantic began coverage on shares of Ares Management in a research report on Tuesday, August 27th. They issued a “neutral” rating and a $140.00 price objective on the stock. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Ares Management from $134.00 to $133.00 and set a “hold” rating for the company in a research note on Thursday, August 15th. UBS Group cut their price target on Ares Management from $160.00 to $158.00 and set a “buy” rating on the stock in a report on Wednesday, July 10th. TD Cowen boosted their price objective on shares of Ares Management from $158.00 to $162.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. Finally, Wells Fargo & Company assumed coverage on Ares Management in a report on Thursday, September 12th. They issued an “equal weight” rating and a $156.00 price target for the company. One analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Ares Management presently has a consensus rating of “Hold” and a consensus target price of $141.42.

Ares Management Price Performance

Ares Management stock opened at $152.43 on Thursday. The stock has a market capitalization of $47.23 billion, a PE ratio of 68.35, a price-to-earnings-growth ratio of 1.33 and a beta of 1.21. 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 12 month low of $96.00 and a 12 month high of $155.65. The business has a 50 day simple moving average of $144.42 and a 200-day simple moving average of $139.00.

Ares Management (NYSE:ARES) last posted its earnings results on Friday, August 2nd. The asset manager reported $0.99 EPS for the quarter, topping analysts’ consensus estimates of $0.98 by $0.01. The company had revenue of $788.68 million for 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 previous year, the business earned $0.90 earnings per share. Equities analysts predict that Ares Management Co. will post 4.15 earnings per share for the current year.

Ares Management Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be paid a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a dividend yield of 2.44%. The ex-dividend date of this dividend is Monday, September 16th. Ares Management’s dividend payout ratio is presently 166.82%.

Insider Buying and Selling

In other Ares Management news, insider R. Kipp Deveer sold 41,676 shares of Ares Management stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $150.21, for a total value of $6,260,151.96. Following the transaction, the insider now owns 1,075,000 shares in the company, valued at approximately $161,475,750. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CEO Michael J. Arougheti sold 27,120 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 $3,950,570.40. Following the completion of the transaction, the chief executive officer now directly owns 222,880 shares in the company, valued at $32,466,929.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider R. Kipp Deveer sold 41,676 shares of Ares Management stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $150.21, for a total transaction of $6,260,151.96. Following the completion of the transaction, the insider now directly owns 1,075,000 shares of the company’s stock, valued at approximately $161,475,750. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 866,816 shares of company stock worth $122,071,500. 1.20% of the stock is owned by company insiders.

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.