Intech Investment Management LLC Boosts Stock Holdings in Ares Management Co. (NYSE:ARES)

Intech Investment Management LLC grew its holdings in Ares Management Co. (NYSE:ARES) by 32.0% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 11,761 shares of the asset manager’s stock after purchasing an additional 2,853 shares during the quarter. Intech Investment Management LLC’s holdings in Ares Management were worth $1,568,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Grayhawk Investment Strategies Inc. acquired a new position in Ares Management during the 4th quarter valued at approximately $1,100,000. EP Wealth Advisors LLC increased its stake in shares of Ares Management by 32.5% in the 1st quarter. EP Wealth Advisors LLC now owns 20,345 shares of the asset manager’s stock valued at $2,705,000 after purchasing an additional 4,996 shares in the last quarter. Norden Group LLC raised its stake in shares of Ares Management by 2,695.3% during the 1st quarter. Norden Group LLC now owns 70,414 shares of the asset manager’s stock worth $9,364,000 after buying an additional 67,895 shares during the period. Sumitomo Mitsui Trust Holdings Inc. raised its position in Ares Management by 17.7% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 397,285 shares of the asset manager’s stock worth $52,831,000 after acquiring an additional 59,668 shares during the period. Finally, FORA Capital LLC purchased a new position in Ares Management in the 1st quarter valued at about $3,434,000. Hedge funds and other institutional investors own 50.03% of the company’s stock.

Insider Buying and Selling

In other Ares Management news, CEO Michael J. Arougheti sold 27,120 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $145.67, for a total value of $3,950,570.40. Following the sale, the chief executive officer now owns 222,880 shares of the company’s stock, valued at $32,466,929.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider R. Kipp Deveer sold 41,676 shares of Ares Management stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $150.21, for a total transaction of $6,260,151.96. Following the completion of the transaction, the insider now directly owns 1,075,000 shares in the company, valued at approximately $161,475,750. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael J. Arougheti sold 27,120 shares of the stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $145.67, for a total value of $3,950,570.40. Following the sale, the chief executive officer now owns 222,880 shares in the company, valued at approximately $32,466,929.60. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 604,316 shares of company stock valued at $87,718,000. 1.20% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Redburn Atlantic assumed coverage on Ares Management in a research report on Tuesday, August 27th. They set a “neutral” rating and a $140.00 price objective on the stock. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Ares Management from $134.00 to $133.00 and set a “hold” rating on the stock in a report on Thursday, August 15th. Barclays upped their price target on Ares Management from $151.00 to $155.00 and gave the company an “overweight” rating in a report on Monday, August 5th. Wells Fargo & Company initiated coverage on Ares Management in a report on Thursday, September 12th. They issued an “equal weight” rating and a $156.00 price objective for the company. Finally, UBS Group reduced their price objective on Ares Management from $160.00 to $158.00 and set a “buy” rating for the company in a research note on Wednesday, July 10th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $141.42.

Ares Management Price Performance

Shares of NYSE ARES opened at $156.14 on Tuesday. The company’s fifty day moving average is $145.22 and its two-hundred day moving average is $139.46. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.05 and a current ratio of 1.05. 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 Co. has a one year low of $96.00 and a one year high of $158.50.

Ares Management (NYSE:ARES) last issued its earnings results 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. Ares Management had a net margin of 12.53% and a return on equity of 20.46%. The company had revenue of $788.68 million for the quarter, compared to analyst estimates of $860.09 million. During the same period in the prior year, the business posted $0.90 earnings per share. Analysts forecast that Ares Management Co. will post 4.15 EPS for the current fiscal year.

Ares Management Announces Dividend

The company also recently disclosed 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 annualized dividend and a yield of 2.38%. The ex-dividend date of this dividend is Monday, September 16th. Ares Management’s payout ratio is currently 166.82%.

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.