Ares Management Co. (NYSE:ARES) Shares Sold by Cetera Investment Advisers

Cetera Investment Advisers cut its stake in Ares Management Co. (NYSE:ARES) by 3.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 79,797 shares of the asset manager’s stock after selling 2,920 shares during the period. Cetera Investment Advisers’ holdings in Ares Management were worth $10,635,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of ARES. Gulf International Bank UK Ltd grew its stake in Ares Management by 0.7% during the 1st quarter. Gulf International Bank UK Ltd now owns 13,420 shares of the asset manager’s stock valued at $1,784,000 after acquiring an additional 90 shares in the last quarter. West Oak Capital LLC grew its position in Ares Management by 66.7% during the first quarter. West Oak Capital LLC now owns 250 shares of the asset manager’s stock worth $33,000 after buying an additional 100 shares in the last quarter. First Horizon Advisors Inc. increased its holdings in Ares Management by 10.8% in the 2nd quarter. First Horizon Advisors Inc. now owns 1,073 shares of the asset manager’s stock valued at $143,000 after buying an additional 105 shares during the period. Americana Partners LLC lifted its stake in Ares Management by 7.2% during the second quarter. Americana Partners LLC now owns 1,613 shares of the asset manager’s stock worth $215,000 after purchasing an additional 108 shares during the period. Finally, Chase Investment Counsel Corp grew its position in Ares Management by 0.4% in the first quarter. Chase Investment Counsel Corp now owns 32,668 shares of the asset manager’s stock valued at $4,344,000 after acquiring an additional 115 shares during the period. Institutional investors and hedge funds own 50.03% of the company’s stock.

Insider Transactions at Ares Management

In other news, insider Ryan Berry sold 10,000 shares of Ares Management 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 transaction, the insider now owns 446,702 shares in the company, valued at approximately $63,485,288.24. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Ryan Berry sold 10,000 shares of Ares Management stock in a transaction 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 directly owns 446,702 shares in the company, valued at approximately $63,485,288.24. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Bennett Rosenthal sold 27,172 shares of Ares Management stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $145.67, for a total transaction of $3,958,145.24. Following the sale, the chairman now owns 222,828 shares of the company’s stock, valued at $32,459,354.76. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 604,316 shares of company stock valued at $87,718,000 in the last ninety days. Corporate insiders own 1.20% of the company’s stock.

Ares Management Stock Performance

Ares Management stock opened at $160.39 on Friday. The stock’s 50 day simple moving average is $147.04 and its two-hundred day simple moving average is $140.96. Ares Management Co. has a fifty-two week low of $96.00 and a fifty-two week high of $160.39. The stock has a market cap of $49.69 billion, a price-to-earnings ratio of 71.92, a PEG ratio of 1.47 and a beta of 1.22. 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, topping the consensus estimate of $0.98 by $0.01. The company had revenue of $788.68 million during the quarter, compared to analyst estimates of $860.09 million. Ares Management had a return on equity of 20.46% and a net margin of 12.53%. During the same quarter in the previous year, the company posted $0.90 earnings per share. As a group, 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 disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were paid a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a yield of 2.32%. The ex-dividend date of this dividend was Monday, September 16th. Ares Management’s payout ratio is 166.82%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. UBS Group lowered their target price 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. JPMorgan Chase & Co. increased their price objective on shares of Ares Management from $141.00 to $143.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Redburn Atlantic started coverage on shares of Ares Management in a report on Tuesday, August 27th. They issued a “neutral” rating and a $140.00 price objective on the stock. TD Cowen raised their price target on Ares Management from $158.00 to $162.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Finally, Barclays upped their price objective on Ares Management from $151.00 to $155.00 and gave the company an “overweight” rating in a research note on Monday, August 5th. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Ares Management currently has a consensus rating of “Moderate Buy” and a consensus target price of $143.67.

Ares Management 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.