Ensign Peak Advisors Inc Grows Stock Holdings in Ares Management Co. (NYSE:ARES)

Ensign Peak Advisors Inc boosted its holdings in Ares Management Co. (NYSE:ARES) by 37.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 129,408 shares of the asset manager’s stock after buying an additional 35,370 shares during the quarter. Ensign Peak Advisors Inc’s holdings in Ares Management were worth $17,247,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Compass Wealth Management LLC acquired a new position in shares of Ares Management in the 1st quarter valued at $28,000. Riverview Trust Co acquired a new stake in shares of Ares Management during the first quarter worth about $29,000. West Oak Capital LLC lifted its stake in Ares Management by 66.7% in the first 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 last quarter. TFO Wealth Partners LLC raised 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 purchasing an additional 292 shares during the last quarter. Finally, J.Safra Asset Management Corp grew its position in Ares Management by 717.6% during the 1st quarter. J.Safra Asset Management Corp now owns 278 shares of the asset manager’s stock worth $37,000 after purchasing an additional 244 shares during the last quarter. 50.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Ares Management

In other Ares Management news, insider Ryan Berry sold 12,500 shares of the firm’s stock in a transaction on 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 transaction, the insider now owns 376,702 shares of the company’s stock, valued at $58,162,788.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Ares Management news, insider Ryan Berry sold 12,500 shares of the firm’s stock in a transaction dated 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 sale, the insider now directly owns 376,702 shares of the company’s stock, valued at approximately $58,162,788.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Bennett Rosenthal sold 75,000 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $143.05, for a total transaction of $10,728,750.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 604,316 shares of company stock valued at $87,718,000. 1.20% of the stock is owned by corporate insiders.

Ares Management Stock Down 0.3 %

ARES opened at $156.14 on Tuesday. Ares Management Co. has a one year low of $96.00 and a one year high of $158.50. The company has a market cap of $48.37 billion, a price-to-earnings ratio of 70.02, a PEG ratio of 1.33 and a beta of 1.21. The business’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.

Ares Management (NYSE:ARES) last issued its quarterly earnings data on Friday, August 2nd. The asset manager reported $0.99 EPS 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 for the quarter, compared to analysts’ expectations of $860.09 million. During the same period in the prior year, the company earned $0.90 EPS. Analysts anticipate that Ares Management Co. will post 4.15 EPS for the current fiscal year.

Ares Management Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be given a dividend of $0.93 per share. The ex-dividend date is Monday, September 16th. This represents a $3.72 annualized dividend and a dividend yield of 2.38%. Ares Management’s dividend payout ratio is currently 166.82%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Wells Fargo & Company started coverage on Ares Management in a research report on Thursday, September 12th. They issued an “equal weight” rating and a $156.00 price target on the stock. Barclays upped their price objective 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. Deutsche Bank Aktiengesellschaft lowered their target price 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. UBS Group cut their price target on shares of Ares Management from $160.00 to $158.00 and set a “buy” rating for the company in a report on Wednesday, July 10th. Finally, JPMorgan Chase & Co. lifted their price objective on Ares Management from $141.00 to $143.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. One equities 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 company. According to data from MarketBeat.com, the company presently has an average 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.