Oppenheimer & Co. Inc. Lowers Stock Position in Ares Management Co. (NYSE:ARES)

Oppenheimer & Co. Inc. lessened its stake in shares of Ares Management Co. (NYSE:ARES) by 9.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,885 shares of the asset manager’s stock after selling 2,350 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Ares Management were worth $3,050,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Compass Wealth Management LLC purchased a new position in shares of Ares Management in the first quarter valued at approximately $28,000. Riverview Trust Co purchased a new position in Ares Management in the 1st quarter valued at approximately $29,000. West Oak Capital LLC boosted its position in Ares Management by 66.7% in 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. TFO Wealth Partners LLC boosted its position in Ares Management by 29,200.0% in the 4th quarter. TFO Wealth Partners LLC now owns 293 shares of the asset manager’s stock valued at $35,000 after buying an additional 292 shares during the period. Finally, J.Safra Asset Management Corp boosted its position in Ares Management by 717.6% in the 1st quarter. J.Safra Asset Management Corp now owns 278 shares of the asset manager’s stock valued at $37,000 after buying an additional 244 shares during the period. Hedge funds and other institutional investors own 50.03% of the company’s stock.

Insider Buying and Selling at Ares Management

In other Ares Management news, insider David B. Kaplan sold 125,000 shares of Ares Management stock in a transaction on Friday, June 21st. The shares were sold at an average price of $131.94, for a total value of $16,492,500.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Ares Management news, insider R. Kipp Deveer sold 41,676 shares of Ares Management stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $150.21, for a total value of $6,260,151.96. Following the transaction, the insider now directly owns 1,075,000 shares in the company, valued at $161,475,750. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider David B. Kaplan sold 125,000 shares of the business’s stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $131.94, for a total transaction of $16,492,500.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 779,315 shares of company stock worth $109,487,356. 1.20% of the stock is owned by company insiders.

Ares Management Price Performance

Shares of ARES opened at $147.40 on Monday. Ares Management Co. has a 1-year low of $96.00 and a 1-year high of $155.53. The stock has a market cap of $46.13 billion, a PE ratio of 66.10, a price-to-earnings-growth 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. The firm has a fifty day moving average price of $143.52 and a 200 day moving average price of $138.65.

Ares Management (NYSE:ARES) last announced 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. 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 during the quarter, compared to analysts’ expectations of $860.09 million. During the same period in the previous year, the company earned $0.90 earnings per share. As a group, sell-side analysts anticipate that Ares Management Co. will post 4.15 EPS for the current year.

Ares Management Announces Dividend

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 paid a $0.93 dividend. The ex-dividend date of this dividend is Monday, September 16th. This represents a $3.72 dividend on an annualized basis and a yield of 2.52%. Ares Management’s dividend payout ratio is presently 166.82%.

Wall Street Analyst Weigh In

ARES has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Ares Management from $134.00 to $133.00 and set a “hold” rating for the company in a research report on Thursday, August 15th. Royal Bank of Canada reissued an “outperform” rating and issued a $150.00 price target on shares of Ares Management in a research report on Wednesday, May 22nd. TD Cowen lifted their price objective 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. UBS Group decreased their price objective on shares of Ares Management from $160.00 to $158.00 and set a “buy” rating for the company in a research report on Wednesday, July 10th. Finally, Wells Fargo & Company assumed coverage on shares of Ares Management in a research report on Thursday. They set an “equal weight” rating and a $156.00 price objective for the company. 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, the company presently has a consensus rating of “Hold” and a consensus price target 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.