Ares Management Co. (NYSE:ARES) Stake Lifted by Elo Mutual Pension Insurance Co

Elo Mutual Pension Insurance Co raised its stake in Ares Management Co. (NYSE:ARES) by 3.7% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 15,821 shares of the asset manager’s stock after buying an additional 559 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in Ares Management were worth $2,109,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Compass Wealth Management LLC bought a new position in Ares Management in the 1st quarter worth about $28,000. Riverview Trust Co bought a new stake in Ares Management during the 1st quarter valued at $29,000. West Oak Capital LLC boosted its position in Ares Management by 66.7% during the 1st quarter. West Oak Capital LLC now owns 250 shares of the asset manager’s stock worth $33,000 after acquiring an additional 100 shares during the period. TFO Wealth Partners LLC grew its stake in shares of Ares Management by 29,200.0% in the fourth quarter. TFO Wealth Partners LLC now owns 293 shares of the asset manager’s stock worth $35,000 after purchasing an additional 292 shares in the last quarter. Finally, J.Safra Asset Management Corp increased its holdings in shares of Ares Management by 717.6% during the first quarter. J.Safra Asset Management Corp now owns 278 shares of the asset manager’s stock valued at $37,000 after purchasing an additional 244 shares during the period. Institutional investors and hedge funds own 50.03% of the company’s stock.

Ares Management Price Performance

ARES stock opened at $156.60 on Friday. Ares Management Co. has a one year low of $96.00 and a one year high of $157.53. The firm has a 50-day moving average of $144.73 and a two-hundred day moving average of $139.12. The firm has a market capitalization of $48.52 billion, a PE ratio of 70.22, a P/E/G ratio of 1.33 and a beta of 1.21. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.52.

Ares Management (NYSE:ARES) last issued its quarterly earnings results on Friday, August 2nd. The asset manager reported $0.99 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $860.09 million. During the same quarter in the prior year, the firm earned $0.90 EPS. On average, analysts forecast that Ares Management Co. will post 4.15 earnings per share for the current year.

Ares Management Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be given a $0.93 dividend. The ex-dividend date is Monday, September 16th. This represents a $3.72 annualized dividend and a dividend yield of 2.38%. Ares Management’s dividend payout ratio (DPR) is presently 166.82%.

Insider Activity

In related news, insider R. Kipp Deveer sold 41,676 shares of the stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $150.21, for a total value of $6,260,151.96. Following the completion of the sale, the insider now directly owns 1,075,000 shares of the company’s stock, valued at approximately $161,475,750. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, Chairman Bennett Rosenthal sold 75,000 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $143.05, for a total transaction of $10,728,750.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider R. Kipp Deveer sold 41,676 shares of the stock in a transaction that occurred 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 sale, the insider now 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 quarter, insiders have sold 604,316 shares of company stock worth $87,718,000. 1.20% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on ARES shares. TD Cowen upped their price objective on shares of Ares Management from $158.00 to $162.00 and gave the stock a “buy” rating in a report on Monday, August 5th. Redburn Atlantic started coverage on shares of Ares Management in a research note on Tuesday, August 27th. They issued a “neutral” rating and a $140.00 price target for the company. Barclays raised their price objective on shares of Ares Management from $151.00 to $155.00 and gave the company an “overweight” rating in a research note on Monday, August 5th. JPMorgan Chase & Co. upped their target price 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, Wells Fargo & Company began coverage on Ares Management in a research report on Thursday, September 12th. They set an “equal weight” rating and a $156.00 price target on the stock. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Ares Management presently has an average rating of “Hold” and a consensus price target of $141.42.

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.