RDST Capital LLC Sells 31,085 Shares of Ares Management Co. (NYSE:ARES)

RDST Capital LLC cut its holdings in shares of Ares Management Co. (NYSE:ARES) by 41.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 44,810 shares of the asset manager’s stock after selling 31,085 shares during the quarter. Ares Management makes up about 1.6% of RDST Capital LLC’s investment portfolio, making the stock its 15th biggest position. RDST Capital LLC’s holdings in Ares Management were worth $5,972,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. Dimensional Fund Advisors LP lifted its holdings in Ares Management by 3.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 385,222 shares of the asset manager’s stock worth $45,812,000 after purchasing an additional 12,271 shares in the last quarter. Coldstream Capital Management Inc. purchased a new position in shares of Ares Management in the fourth quarter worth $213,000. Wells Fargo & Company MN boosted its position in shares of Ares Management by 0.6% during the fourth quarter. Wells Fargo & Company MN now owns 357,667 shares of the asset manager’s stock worth $42,534,000 after acquiring an additional 2,277 shares during the last quarter. Assetmark Inc. grew its stake in Ares Management by 40.8% during the fourth quarter. Assetmark Inc. now owns 10,144 shares of the asset manager’s stock valued at $1,206,000 after acquiring an additional 2,938 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. increased its holdings in Ares Management by 2.6% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 93,376 shares of the asset manager’s stock valued at $11,104,000 after acquiring an additional 2,400 shares during the last quarter. 50.03% of the stock is currently owned by hedge funds and other institutional investors.

Ares Management Price Performance

ARES stock opened at $156.14 on Tuesday. 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 12 month low of $96.00 and a 12 month high of $158.50. The stock has a market cap of $48.37 billion, a PE ratio of 70.02, a P/E/G ratio of 1.33 and a beta of 1.21. The company has a 50-day moving average price of $145.22 and a 200 day moving average price of $139.46.

Ares Management (NYSE:ARES) last released its earnings results 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 return on equity of 20.46% and a net margin of 12.53%. The firm had revenue of $788.68 million for the quarter, compared to analysts’ expectations of $860.09 million. During the same quarter in the prior year, the firm posted $0.90 earnings per share. Equities research analysts anticipate that Ares Management Co. will post 4.15 earnings per share for the current year.

Ares Management Announces Dividend

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

Analysts Set New Price Targets

Several research analysts have commented on ARES shares. UBS Group dropped their price objective 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. Deutsche Bank Aktiengesellschaft cut their price target on Ares Management from $134.00 to $133.00 and set a “hold” rating for the company in a report on Thursday, August 15th. Redburn Atlantic assumed coverage on Ares Management in a report on Tuesday, August 27th. They set a “neutral” rating and a $140.00 price objective on the stock. JPMorgan Chase & Co. raised their target price on shares of Ares Management from $141.00 to $143.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Finally, TD Cowen upped their price target on shares of Ares Management from $158.00 to $162.00 and gave the company a “buy” rating in a research note on Monday, August 5th. One analyst has rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, Ares Management has a consensus rating of “Hold” and an average target price of $141.42.

Insider Activity

In related news, insider R. Kipp Deveer sold 41,676 shares of the firm’s stock in a transaction dated 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 owns 1,075,000 shares of the company’s stock, valued at approximately $161,475,750. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, insider Ryan Berry sold 57,500 shares of the stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $140.74, for a total transaction of $8,092,550.00. Following the transaction, the insider now owns 456,702 shares of the company’s stock, valued at approximately $64,276,239.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider R. Kipp Deveer sold 41,676 shares of Ares Management stock in a transaction dated 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 completion of the sale, the insider now owns 1,075,000 shares of the company’s stock, valued at $161,475,750. 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 currently owned by company insiders.

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.