Sienna Gestion Makes New $295,000 Investment in Ares Management Co. (NYSE:ARES)

Sienna Gestion purchased a new stake in shares of Ares Management Co. (NYSE:ARES) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 2,217 shares of the asset manager’s stock, valued at approximately $295,000.

Other institutional investors also recently modified their holdings of the company. Curated Wealth Partners LLC lifted its position in shares of Ares Management by 199.7% during the 2nd quarter. Curated Wealth Partners LLC now owns 1,658,217 shares of the asset manager’s stock worth $221,007,000 after purchasing an additional 3,321,434 shares during the last quarter. LRI Investments LLC acquired a new position in shares of Ares Management during the first quarter worth approximately $264,729,000. Massachusetts Financial Services Co. MA boosted its position in shares of Ares Management by 58.5% in the second quarter. Massachusetts Financial Services Co. MA now owns 5,058,394 shares of the asset manager’s stock valued at $674,183,000 after acquiring an additional 1,867,933 shares during the period. Norges Bank acquired a new stake in shares of Ares Management in the fourth quarter worth $205,499,000. Finally, M&G Plc increased its position in Ares Management by 711.1% during the second quarter. M&G Plc now owns 1,015,009 shares of the asset manager’s stock worth $134,996,000 after acquiring an additional 889,872 shares during the period. Institutional investors own 50.03% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on ARES. TD Cowen raised their price target on shares of Ares Management from $158.00 to $162.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. JPMorgan Chase & Co. boosted their price target on Ares Management from $141.00 to $143.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. UBS Group cut their price target on Ares Management from $160.00 to $158.00 and set a “buy” rating for the company in a report on Wednesday, July 10th. Wells Fargo & Company assumed coverage on Ares Management in a report on Thursday, September 12th. They set an “equal weight” rating and a $156.00 price objective on the stock. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on Ares Management from $134.00 to $133.00 and set a “hold” rating on the stock in a research report on Thursday, August 15th. One analyst has rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, Ares Management presently has an average rating of “Hold” and a consensus target price of $141.42.

Insider Activity at Ares Management

In other Ares Management news, insider Ryan Berry sold 57,500 shares of the business’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $140.74, for a total value of $8,092,550.00. Following the transaction, the insider now owns 456,702 shares of the company’s stock, valued at $64,276,239.48. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, insider Ryan Berry sold 57,500 shares of the stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $140.74, for a total transaction of $8,092,550.00. Following the sale, the insider now directly owns 456,702 shares of the company’s stock, valued at $64,276,239.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider R. Kipp Deveer sold 41,676 shares of the business’s 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 transaction, 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. Insiders sold 604,316 shares of company stock valued at $87,718,000 in the last three months. Corporate insiders own 1.20% of the company’s stock.

Ares Management Stock Up 2.8 %

Shares of NYSE ARES opened at $156.60 on Friday. Ares Management Co. has a 52-week low of $96.00 and a 52-week high of $157.53. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.05 and a current ratio of 1.05. The business has a fifty day moving average of $144.73 and a two-hundred day moving average of $139.12. The stock has a market cap of $48.52 billion, a PE ratio of 70.22, a PEG ratio of 1.33 and a beta of 1.21.

Ares Management (NYSE:ARES) last announced its quarterly earnings results on Friday, August 2nd. The asset manager reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.01. The firm had revenue of $788.68 million during the quarter, compared to the consensus estimate of $860.09 million. Ares Management had a net margin of 12.53% and a return on equity of 20.46%. During the same period last year, the firm posted $0.90 EPS. As a group, equities research analysts expect that Ares Management Co. will post 4.15 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 Monday, September 30th. Investors of record on Monday, September 16th will be given a dividend of $0.93 per share. The ex-dividend date is Monday, September 16th. This represents a $3.72 dividend on an annualized basis and a yield of 2.38%. Ares Management’s dividend payout ratio (DPR) is presently 166.82%.

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.