Skandinaviska Enskilda Banken AB publ Raises Stock Holdings in Ares Management Co. (NYSE:ARES)

Skandinaviska Enskilda Banken AB publ boosted its stake in Ares Management Co. (NYSE:ARES) by 13.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 39,965 shares of the asset manager’s stock after buying an additional 4,820 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Ares Management were worth $5,327,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Compass Wealth Management LLC acquired a new position in Ares Management in the 1st quarter valued at about $28,000. Riverview Trust Co acquired a new position in Ares Management in the 1st quarter valued at about $29,000. West Oak Capital LLC grew 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 acquiring an additional 100 shares in the last quarter. TFO Wealth Partners LLC grew 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 acquiring an additional 292 shares in the last quarter. Finally, J.Safra Asset Management Corp grew 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 acquiring an additional 244 shares in the last quarter. 50.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Ares Management

In other Ares Management news, insider Ryan Berry sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $142.12, for a total value of $1,421,200.00. Following the completion of the sale, the insider now owns 446,702 shares in the company, valued at $63,485,288.24. The sale was disclosed in a document filed with the SEC, which is available through this link. 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 stock was sold at an average price of $142.12, for a total transaction of $1,421,200.00. Following the completion of the sale, the insider now owns 446,702 shares in the company, valued at $63,485,288.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider R. Kipp Deveer sold 41,676 shares of the company’s stock in a transaction that occurred 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 sold 604,316 shares of company stock worth $87,718,000. 1.20% of the stock is owned by insiders.

Ares Management Price Performance

Shares of NYSE ARES opened at $156.66 on Monday. 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 Co. has a twelve month low of $96.00 and a twelve month high of $157.53. The stock has a 50 day moving average of $145.02 and a two-hundred day moving average of $139.32. The stock has a market cap of $48.54 billion, a P/E ratio of 70.25, a P/E/G ratio of 1.33 and a beta of 1.21.

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, 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 analysts’ expectations of $860.09 million. During the same quarter in the previous year, the business earned $0.90 earnings per share. On average, research analysts forecast that Ares Management Co. will post 4.15 earnings per share for the current year.

Ares Management Dividend Announcement

The company 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. 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 dividend payout ratio is currently 166.82%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on ARES shares. Redburn Atlantic started coverage on Ares Management in a research report on Tuesday, August 27th. They set a “neutral” rating and a $140.00 price objective for the company. Deutsche Bank Aktiengesellschaft lowered their price objective on Ares Management from $134.00 to $133.00 and set a “hold” rating for the company in a research report on Thursday, August 15th. JPMorgan Chase & Co. boosted 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. TD Cowen boosted their price objective on Ares Management from $158.00 to $162.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Finally, Barclays boosted their price objective on Ares Management from $151.00 to $155.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. One research analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average 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.