Meiji Yasuda Asset Management Co Ltd. Acquires 120 Shares of Ares Management Co. (NYSE:ARES)

Meiji Yasuda Asset Management Co Ltd. boosted its holdings in shares of Ares Management Co. (NYSE:ARES) by 5.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,430 shares of the asset manager’s stock after purchasing an additional 120 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.’s holdings in Ares Management were worth $324,000 at the end of the most recent quarter.

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

Analyst Upgrades and Downgrades

ARES has been the topic of a number of research analyst reports. Wells Fargo & Company started coverage on Ares Management in a research report on Thursday, September 12th. They issued an “equal weight” rating and a $156.00 target price on the stock. TD Cowen increased their target price on Ares Management from $158.00 to $162.00 and gave the company a “buy” rating in a research report on Monday, August 5th. Redburn Atlantic assumed coverage on shares of Ares Management in a report on Tuesday, August 27th. They issued a “neutral” rating and a $140.00 target price for the company. UBS Group decreased their price target on shares of Ares Management from $160.00 to $158.00 and set a “buy” rating on the stock in a research note on Wednesday, July 10th. Finally, Deutsche Bank Aktiengesellschaft dropped 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. One analyst has rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $141.42.

Insider Buying and Selling at Ares Management

In other news, Chairman Bennett Rosenthal sold 75,000 shares of Ares Management 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Ares Management news, insider R. Kipp Deveer sold 41,676 shares of the firm’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $150.21, for a total transaction of $6,260,151.96. Following the transaction, the insider now owns 1,075,000 shares of the company’s stock, valued at approximately $161,475,750. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Bennett Rosenthal sold 75,000 shares of the business’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $143.05, for a total transaction of $10,728,750.00. The disclosure for this sale can be found here. Insiders sold a total of 604,316 shares of company stock valued at $87,718,000 in the last three months. Company insiders own 1.20% of the company’s stock.

Ares Management Stock Up 0.1 %

Shares of NYSE ARES opened at $156.66 on Friday. Ares Management Co. has a 1 year low of $96.00 and a 1 year high of $157.53. The firm has a 50-day simple moving average of $145.02 and a two-hundred day simple moving average of $139.29. The company has a market cap of $48.54 billion, a P/E ratio of 70.25, a PEG 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 (NYSE:ARES) last posted its quarterly earnings data on Friday, August 2nd. The asset manager reported $0.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.98 by $0.01. Ares Management had a return on equity of 20.46% and a net margin of 12.53%. The company had revenue of $788.68 million during the quarter, compared to analysts’ expectations of $860.09 million. During the same quarter in the previous year, the business earned $0.90 EPS. Research analysts anticipate that Ares Management Co. will post 4.15 earnings per share for the current year.

Ares Management Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be issued 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 2.37%. Ares Management’s payout ratio is 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.