Bleakley Financial Group LLC Buys 149 Shares of Ares Management Co. (NYSE:ARES)

Bleakley Financial Group LLC grew its stake in shares of Ares Management Co. (NYSE:ARES) by 8.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,963 shares of the asset manager’s stock after buying an additional 149 shares during the quarter. Bleakley Financial Group LLC’s holdings in Ares Management were worth $306,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. West Oak Capital LLC grew its stake in shares of Ares Management by 66.7% during 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. First Horizon Advisors Inc. grew its stake in shares of Ares Management by 10.8% in the second quarter. First Horizon Advisors Inc. now owns 1,073 shares of the asset manager’s stock worth $143,000 after purchasing an additional 105 shares during the last quarter. Americana Partners LLC grew its stake in shares of Ares Management by 7.2% in 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 last quarter. Chase Investment Counsel Corp grew its stake in shares of Ares Management by 0.4% in the first quarter. Chase Investment Counsel Corp now owns 32,668 shares of the asset manager’s stock worth $4,344,000 after purchasing an additional 115 shares during the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. grew its stake in shares of Ares Management by 5.2% in the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 2,430 shares of the asset manager’s stock worth $324,000 after purchasing an additional 120 shares during the last quarter. 50.03% of the stock is owned by institutional investors.

Ares Management Price Performance

ARES stock opened at $167.31 on Thursday. The firm has a 50 day moving average price of $152.56 and a 200-day moving average price of $143.69. Ares Management Co. has a 52-week low of $96.00 and a 52-week high of $171.76. The firm has a market capitalization of $51.84 billion, a price-to-earnings ratio of 75.03, a PEG ratio of 1.48 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 released its earnings results on Friday, August 2nd. The asset manager reported $0.99 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $788.68 million during the quarter, compared to analyst estimates of $860.09 million. During the same period last year, the business earned $0.90 earnings per share. Equities research analysts forecast that Ares Management Co. will post 4.16 EPS for the current fiscal year.

Ares Management Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were issued a dividend of $0.93 per share. The ex-dividend date was Monday, September 16th. This represents a $3.72 annualized dividend and a dividend yield of 2.22%. Ares Management’s payout ratio is 166.82%.

Insider Activity

In related news, insider Ryan Berry sold 40,000 shares of the business’s stock in a transaction that occurred on Thursday, October 17th. The shares were sold at an average price of $167.99, for a total value of $6,719,600.00. Following the completion of the transaction, the insider now directly owns 304,202 shares in the company, valued at $51,102,893.98. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Ryan Berry sold 40,000 shares of the business’s stock in a transaction that occurred on Thursday, October 17th. The shares were sold at an average price of $167.99, for a total value of $6,719,600.00. Following the completion of the transaction, the insider now directly owns 304,202 shares in the company, valued at $51,102,893.98. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Bennett Rosenthal sold 10,154 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $144.46, for a total transaction of $1,466,846.84. Following the completion of the transaction, the chairman now owns 191,508 shares of the company’s stock, valued at approximately $27,665,245.68. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 622,640 shares of company stock worth $91,378,848. Insiders own 1.20% of the company’s stock.

Wall Street Analysts Forecast Growth

ARES has been the topic of several recent analyst reports. Royal Bank of Canada raised their target price on Ares Management from $150.00 to $170.00 and gave the stock an “outperform” rating in a research note on Friday, October 11th. Redburn Atlantic initiated coverage on Ares Management in a research note on Tuesday, August 27th. They issued a “neutral” rating and a $140.00 target price on the stock. TD Cowen raised their target price on Ares Management from $162.00 to $175.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Wells Fargo & Company lifted their price objective on Ares Management from $156.00 to $172.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 9th. Finally, The Goldman Sachs Group lifted their price objective on Ares Management from $145.00 to $160.00 and gave the company a “buy” rating in a research report on Monday, September 30th. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $159.18.

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.