DRW Securities LLC Buys New Shares in Ares Management Co. (NYSE:ARES)

DRW Securities LLC bought a new position in Ares Management Co. (NYSE:ARES) during the second quarter, according to the company in its most recent filing with the SEC. The firm bought 6,216 shares of the asset manager’s stock, valued at approximately $828,000.

Other hedge funds have also added to or reduced their stakes in the company. Gulf International Bank UK Ltd boosted its stake in shares of Ares Management by 0.7% during the first quarter. Gulf International Bank UK Ltd now owns 13,420 shares of the asset manager’s stock valued at $1,784,000 after purchasing an additional 90 shares during the period. 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 valued at $33,000 after buying an additional 100 shares during the period. First Horizon Advisors Inc. grew its holdings in Ares Management by 10.8% in the 2nd quarter. First Horizon Advisors Inc. now owns 1,073 shares of the asset manager’s stock worth $143,000 after acquiring an additional 105 shares during the last quarter. Americana Partners LLC increased its position in shares of Ares Management by 7.2% in the second quarter. Americana Partners LLC now owns 1,613 shares of the asset manager’s stock valued at $215,000 after acquiring an additional 108 shares during the period. Finally, Chase Investment Counsel Corp raised its stake in shares of Ares Management by 0.4% during the first quarter. Chase Investment Counsel Corp now owns 32,668 shares of the asset manager’s stock valued at $4,344,000 after acquiring an additional 115 shares during the last quarter. 50.03% of the stock is owned by institutional investors.

Insider Activity at Ares Management

In other news, insider Ryan Berry sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $142.12, for a total value of $1,421,200.00. Following the transaction, the insider now owns 446,702 shares in the company, valued at $63,485,288.24. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Ares Management news, Chairman Bennett Rosenthal sold 26,579 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $142.66, for a total transaction of $3,791,760.14. Following the transaction, the chairman now owns 75,000 shares in the company, valued at approximately $10,699,500. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Ryan Berry sold 10,000 shares of the firm’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $142.12, for a total transaction of $1,421,200.00. Following the sale, the insider now directly owns 446,702 shares in the company, valued at approximately $63,485,288.24. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 604,316 shares of company stock valued at $87,718,000. 1.20% of the stock is owned by insiders.

Ares Management Stock Up 0.1 %

Shares of Ares Management stock opened at $156.66 on Monday. Ares Management Co. has a 1 year low of $96.00 and a 1 year high of $157.53. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.05 and a quick ratio of 1.05. The company has a 50-day moving average of $145.02 and a 200 day moving average of $139.32. The firm has a market cap of $48.54 billion, a price-to-earnings ratio of 70.25, a PEG ratio of 1.33 and a beta of 1.21.

Ares Management (NYSE:ARES) last posted its quarterly earnings data on Friday, August 2nd. The asset manager reported $0.99 earnings per share 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 analyst estimates of $860.09 million. During the same quarter last year, the company earned $0.90 EPS. As a group, sell-side analysts anticipate that Ares Management Co. will post 4.15 earnings per share for the current fiscal year.

Ares Management Dividend Announcement

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

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft cut their target price on Ares Management from $134.00 to $133.00 and set a “hold” rating on the stock in a research note on Thursday, August 15th. JPMorgan Chase & Co. lifted their price objective on Ares Management from $141.00 to $143.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Wells Fargo & Company started coverage on Ares Management in a report on Thursday, September 12th. They set an “equal weight” rating and a $156.00 target price for the company. Barclays raised their price target on Ares Management from $151.00 to $155.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. Finally, UBS Group reduced their price objective on shares of Ares Management from $160.00 to $158.00 and set a “buy” rating on the stock in a research report on Wednesday, July 10th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $141.42.

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.