Hsbc Holdings PLC Has $10.55 Million Stock Position in Ares Management Co. (NYSE:ARES)

Hsbc Holdings PLC increased its position in shares of Ares Management Co. (NYSE:ARES) by 3.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 78,722 shares of the asset manager’s stock after acquiring an additional 2,667 shares during the quarter. Hsbc Holdings PLC’s holdings in Ares Management were worth $10,553,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Elo Mutual Pension Insurance Co boosted its position in shares of Ares Management by 3.7% in the 2nd quarter. Elo Mutual Pension Insurance Co now owns 15,821 shares of the asset manager’s stock worth $2,109,000 after purchasing an additional 559 shares during the last quarter. Blair William & Co. IL lifted its stake in Ares Management by 3.4% in the second quarter. Blair William & Co. IL now owns 67,377 shares of the asset manager’s stock valued at $8,980,000 after buying an additional 2,233 shares during the period. Vanguard Personalized Indexing Management LLC boosted its holdings in Ares Management by 16.7% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 11,947 shares of the asset manager’s stock worth $1,592,000 after buying an additional 1,710 shares during the last quarter. Amalgamated Bank grew its position in shares of Ares Management by 9.1% during the 2nd quarter. Amalgamated Bank now owns 12,050 shares of the asset manager’s stock worth $1,606,000 after buying an additional 1,008 shares during the period. Finally, Meiji Yasuda Asset Management Co Ltd. increased its stake in shares of Ares Management by 5.2% in the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 2,430 shares of the asset manager’s stock valued at $324,000 after acquiring an additional 120 shares during the last quarter. Institutional investors own 50.03% of the company’s stock.

Insider Transactions at Ares Management

In other news, insider Ryan Berry sold 57,500 shares of Ares Management stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $140.74, for a total transaction of $8,092,550.00. Following the completion of the sale, 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 Securities & Exchange Commission, which can be accessed through this link. In other news, Chairman Bennett Rosenthal sold 75,000 shares of the stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $143.05, for a total value of $10,728,750.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Ryan Berry sold 57,500 shares of the firm’s 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 completion of the sale, the insider now owns 456,702 shares in the company, valued at approximately $64,276,239.48. 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. Company insiders own 1.20% of the company’s stock.

Ares Management Stock Down 0.3 %

Shares of ARES stock opened at $156.14 on Tuesday. The firm’s fifty day moving average price is $145.22 and its two-hundred day moving average price is $139.46. Ares Management Co. has a 1 year low of $96.00 and a 1 year high of $158.50. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $48.37 billion, a P/E ratio of 70.02, a PEG ratio of 1.33 and a beta of 1.21.

Ares Management (NYSE:ARES) last posted its quarterly earnings results 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. The firm had revenue of $788.68 million during the quarter, compared to the consensus estimate of $860.09 million. Ares Management had a return on equity of 20.46% and a net margin of 12.53%. During the same period last year, the company earned $0.90 earnings per share. On average, equities analysts predict that Ares Management Co. will post 4.15 EPS for the current fiscal year.

Ares Management Dividend Announcement

The company 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. This represents a $3.72 annualized dividend and a dividend yield of 2.38%. The ex-dividend date is Monday, September 16th. Ares Management’s payout ratio is 166.82%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on ARES. Barclays boosted their price objective on shares of Ares Management from $151.00 to $155.00 and gave the company an “overweight” rating in a report on Monday, August 5th. JPMorgan Chase & Co. boosted their price target on shares of Ares Management from $141.00 to $143.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft dropped their price objective 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. UBS Group lowered 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. Finally, 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. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, Ares Management currently has a consensus rating of “Hold” and a consensus target price of $141.42.

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.