Bridges Investment Management Inc. Purchases Shares of 2,051 Ares Management Co. (NYSE:ARES)

Bridges Investment Management Inc. acquired a new position in Ares Management Co. (NYSE:ARES) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 2,051 shares of the asset manager’s stock, valued at approximately $273,000.

Several other large investors have also modified their holdings of the company. Compass Wealth Management LLC acquired a new stake in Ares Management in the 1st quarter valued at approximately $28,000. Riverview Trust Co acquired a new stake in shares of Ares Management in the first quarter worth $29,000. West Oak Capital LLC increased its position in Ares Management by 66.7% during the first 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 increased its position in Ares Management by 29,200.0% during the fourth quarter. TFO Wealth Partners LLC now owns 293 shares of the asset manager’s stock worth $35,000 after acquiring an additional 292 shares during the period. Finally, J.Safra Asset Management Corp raised its stake in 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. 50.03% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on ARES. Wells Fargo & Company initiated coverage on shares of Ares Management in a report on Thursday, September 12th. They set an “equal weight” rating and a $156.00 price objective on the stock. 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. Deutsche Bank Aktiengesellschaft decreased their price objective on Ares Management from $134.00 to $133.00 and set a “hold” rating on the stock in a report on Thursday, August 15th. JPMorgan Chase & Co. upped their target price on Ares Management from $141.00 to $143.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Finally, Barclays lifted their price target on shares of Ares Management from $151.00 to $155.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. One research 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. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $141.42.

Insiders Place Their Bets

In related news, insider R. Kipp Deveer sold 41,676 shares of Ares Management 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 transaction, the insider now directly owns 1,075,000 shares of the company’s stock, valued at $161,475,750. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Ares Management news, insider Ryan Berry sold 12,500 shares of the stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $154.40, for a total value of $1,930,000.00. Following the transaction, the insider now directly owns 376,702 shares in the company, valued at approximately $58,162,788.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider R. Kipp Deveer sold 41,676 shares of the business’s stock in a transaction on 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 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 valued at $87,718,000. 1.20% of the stock is currently owned by corporate insiders.

Ares Management Stock Up 0.1 %

Shares of NYSE:ARES opened at $156.66 on Monday. The company has a market capitalization of $48.54 billion, a PE ratio of 70.25, a P/E/G ratio of 1.33 and a beta of 1.21. 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 company’s fifty day moving average is $145.02 and its 200-day moving average is $139.32. Ares Management Co. has a 52 week low of $96.00 and a 52 week high of $157.53.

Ares Management (NYSE:ARES) last issued its quarterly earnings data on Friday, August 2nd. The asset manager reported $0.99 earnings per share for the quarter, topping 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 firm had revenue of $788.68 million for the quarter, compared to analysts’ expectations of $860.09 million. During the same period in the prior year, the firm earned $0.90 earnings per share. Equities research analysts predict that Ares Management Co. will post 4.15 earnings per share for the current fiscal year.

Ares Management Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be given a $0.93 dividend. The ex-dividend date of this dividend is Monday, September 16th. This represents a $3.72 annualized dividend and a yield of 2.37%. Ares Management’s payout ratio is 166.82%.

Ares Management Company 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.