Ares Management Co. (NYSE:ARES) Shares Sold by Handelsbanken Fonder AB

Handelsbanken Fonder AB trimmed its holdings in Ares Management Co. (NYSE:ARES) by 4.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 53,881 shares of the asset manager’s stock after selling 2,334 shares during the period. Handelsbanken Fonder AB’s holdings in Ares Management were worth $8,397,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ARES. Compass Wealth Management LLC acquired a new stake in shares of Ares Management in the first quarter worth approximately $28,000. Riverview Trust Co acquired a new position in shares of Ares Management in the 1st quarter valued at $29,000. West Oak Capital LLC grew its stake in shares of Ares Management by 66.7% during the 1st 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 period. J.Safra Asset Management Corp increased its holdings in shares of 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 buying an additional 244 shares during the last quarter. Finally, Key Financial Inc purchased a new position in shares of Ares Management in the 2nd quarter worth $53,000. Hedge funds and other institutional investors own 50.03% of the company’s stock.

Ares Management Trading Up 0.1 %

NYSE:ARES opened at $160.52 on Tuesday. The stock has a market cap of $49.73 billion, a price-to-earnings ratio of 71.98, a price-to-earnings-growth ratio of 1.47 and a beta of 1.22. Ares Management Co. has a one year low of $96.00 and a one year high of $161.56. 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 business’s 50-day simple moving average is $147.04 and its 200 day simple moving average is $141.01.

Ares Management (NYSE:ARES) last announced its earnings results on Friday, August 2nd. The asset manager reported $0.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.98 by $0.01. The company had revenue of $788.68 million for 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 period in the prior year, the company posted $0.90 EPS. As a group, sell-side analysts predict that Ares Management Co. will post 4.15 earnings per share for the current fiscal year.

Ares Management Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were issued a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a yield of 2.32%. The ex-dividend date of this dividend was Monday, September 16th. Ares Management’s dividend payout ratio is currently 166.82%.

Insider Transactions at Ares Management

In related news, insider Ryan Berry sold 12,500 shares of Ares Management stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $154.40, for a total value of $1,930,000.00. Following the completion of the transaction, the insider now directly owns 376,702 shares in the company, valued at approximately $58,162,788.80. 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 is accessible through this link. In other news, Chairman Bennett Rosenthal sold 10,154 shares of the firm’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $144.46, for a total value of $1,466,846.84. Following the transaction, the chairman now directly owns 191,508 shares in the company, valued at approximately $27,665,245.68. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Ryan Berry sold 12,500 shares of the business’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. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 604,316 shares of company stock valued at $87,718,000. Insiders own 1.20% of the company’s stock.

Analyst Upgrades and Downgrades

ARES has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft dropped their price target on Ares Management from $134.00 to $133.00 and set a “hold” rating for the company in a research note on Thursday, August 15th. Barclays raised their price target on shares of Ares Management from $155.00 to $174.00 and gave the company an “overweight” rating in a report on Monday. Wells Fargo & Company started coverage on shares of Ares Management in a research note on Thursday, September 12th. They set an “equal weight” rating and a $156.00 price objective for the company. Redburn Atlantic began coverage on shares of Ares Management in a research note on Tuesday, August 27th. They issued a “neutral” rating and a $140.00 target price on the stock. Finally, TD Cowen upped their price target on shares of Ares Management from $158.00 to $162.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Six research 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 presently has a consensus rating of “Moderate Buy” and a consensus target price of $147.36.

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.