1832 Asset Management L.P. Purchases 123,501 Shares of Ares Management Co. (NYSE:ARES)

1832 Asset Management L.P. raised its position in Ares Management Co. (NYSE:ARES) by 56.5% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 342,212 shares of the asset manager’s stock after acquiring an additional 123,501 shares during the period. 1832 Asset Management L.P. owned about 0.11% of Ares Management worth $45,610,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of Ares Management by 1.3% in the first quarter. Vanguard Group Inc. now owns 16,599,345 shares of the asset manager’s stock valued at $2,207,381,000 after purchasing an additional 206,996 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in Ares Management by 58.5% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 5,058,394 shares of the asset manager’s stock valued at $674,183,000 after buying an additional 1,867,933 shares during the period. LRI Investments LLC raised its stake in shares of Ares Management by 49.4% in the 2nd quarter. LRI Investments LLC now owns 2,822,565 shares of the asset manager’s stock valued at $376,191,000 after buying an additional 933,664 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of Ares Management by 24.4% during the 2nd quarter. American Century Companies Inc. now owns 2,316,584 shares of the asset manager’s stock worth $308,754,000 after acquiring an additional 453,657 shares during the period. Finally, Principal Financial Group Inc. boosted its position in shares of Ares Management by 38.5% during the 2nd quarter. Principal Financial Group Inc. now owns 2,171,188 shares of the asset manager’s stock valued at $289,376,000 after acquiring an additional 603,676 shares in the last quarter. Institutional investors own 50.03% of the company’s stock.

Ares Management Trading Up 0.1 %

Shares of NYSE ARES 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 50-day moving average of $145.02 and a two-hundred day moving average of $139.32. The company has a market cap 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 current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.52.

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, topping the consensus estimate of $0.98 by $0.01. The firm had revenue of $788.68 million during the quarter, compared to analysts’ expectations of $860.09 million. Ares Management had a net margin of 12.53% and a return on equity of 20.46%. During the same quarter in the previous year, the company posted $0.90 EPS. As a group, equities analysts expect 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. Stockholders of record on Monday, September 16th will be paid a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a dividend yield of 2.37%. The ex-dividend date is Monday, September 16th. Ares Management’s dividend payout ratio (DPR) is presently 166.82%.

Insider Activity at Ares Management

In other Ares Management news, insider Ryan Berry sold 12,500 shares of the business’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $154.40, for a total transaction of $1,930,000.00. Following the completion of the sale, the insider now directly owns 376,702 shares of the company’s stock, valued at approximately $58,162,788.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Ares Management news, insider Ryan Berry sold 12,500 shares of Ares Management stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $154.40, for a total transaction of $1,930,000.00. Following the completion of the sale, the insider now owns 376,702 shares of the company’s stock, valued at approximately $58,162,788.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider R. Kipp Deveer sold 41,676 shares of the company’s stock in a transaction on 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 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. Insiders have sold a total of 604,316 shares of company stock worth $87,718,000 over the last 90 days. Insiders own 1.20% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on ARES. Barclays increased their price target on shares of Ares Management from $151.00 to $155.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. JPMorgan Chase & Co. raised their target price 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 assumed coverage on Ares Management in a research note on Thursday, September 12th. They issued an “equal weight” rating and a $156.00 price target on the stock. TD Cowen upped their price target on Ares Management from $158.00 to $162.00 and gave the company a “buy” rating in a research report on Monday, August 5th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on Ares Management from $134.00 to $133.00 and set a “hold” rating on the stock in a research report on Thursday, August 15th. One 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 company’s stock. According to MarketBeat, Ares Management has an average 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.