Ares Management Co. (NYSE:ARES) Shares Purchased by M&G Plc

M&G Plc boosted its position in Ares Management Co. (NYSE:ARES) by 13.5% in the 3rd quarter, Holdings Channel reports. The fund owned 1,152,239 shares of the asset manager’s stock after purchasing an additional 137,230 shares during the period. Ares Management makes up about 0.9% of M&G Plc’s investment portfolio, making the stock its 22nd biggest position. M&G Plc’s holdings in Ares Management were worth $179,749,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ARES. Amalgamated Bank grew its stake in shares of Ares Management by 1.3% during the 3rd quarter. Amalgamated Bank now owns 12,205 shares of the asset manager’s stock valued at $1,902,000 after buying an additional 155 shares during the period. ASB Consultores LLC purchased a new stake in shares of Ares Management during the 3rd quarter valued at $203,000. Gulf International Bank UK Ltd grew its stake in shares of Ares Management by 8.0% during the 3rd quarter. Gulf International Bank UK Ltd now owns 14,494 shares of the asset manager’s stock valued at $2,258,000 after buying an additional 1,074 shares during the period. Catalyst Capital Advisors LLC grew its stake in shares of Ares Management by 5.6% during the 3rd quarter. Catalyst Capital Advisors LLC now owns 2,623 shares of the asset manager’s stock valued at $409,000 after buying an additional 138 shares during the period. Finally, Asset Management One Co. Ltd. grew its stake in shares of Ares Management by 4.1% during the 3rd quarter. Asset Management One Co. Ltd. now owns 68,791 shares of the asset manager’s stock valued at $10,720,000 after buying an additional 2,725 shares during the period. 50.03% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Ares Management

In related news, insider Ryan Berry sold 40,000 shares of the company’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 sale, the insider now owns 304,202 shares in the company, valued at approximately $51,102,893.98. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Ryan Berry sold 40,000 shares of the company’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 sale, the insider now owns 304,202 shares in the company, valued at approximately $51,102,893.98. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Bennett Rosenthal sold 26,579 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $142.66, for a total transaction of $3,791,760.14. Following the completion of the sale, the chairman now owns 75,000 shares of the company’s stock, valued at approximately $10,699,500. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 622,640 shares of company stock valued at $91,378,848 over the last ninety days. Insiders own 41.89% of the company’s stock.

Ares Management Trading Up 4.9 %

Ares Management stock opened at $172.49 on Thursday. The firm has a 50 day simple moving average of $157.04 and a 200-day simple moving average of $146.19. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.05 and a quick ratio of 1.05. The stock has a market capitalization of $53.99 billion, a PE ratio of 79.49, a price-to-earnings-growth ratio of 1.56 and a beta of 1.20. Ares Management Co. has a 12-month low of $101.44 and a 12-month high of $175.74.

Ares Management (NYSE:ARES) last posted its quarterly earnings data on Friday, November 1st. The asset manager reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.94 by $0.01. Ares Management had a net margin of 12.51% and a return on equity of 20.51%. The business had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $833.58 million. During the same period last year, the firm posted $0.83 earnings per share. As a group, equities research analysts expect that Ares Management Co. will post 4.11 EPS for the current fiscal year.

Ares Management Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th will be paid a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a yield of 2.16%. The ex-dividend date of this dividend is Tuesday, December 17th. Ares Management’s dividend payout ratio is presently 171.43%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on ARES. UBS Group upped their price target on shares of Ares Management from $158.00 to $195.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Barclays upped their price target on shares of Ares Management from $155.00 to $174.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Ares Management from $148.00 to $146.00 and set a “hold” rating for the company in a research report on Monday. The Goldman Sachs Group upped their price target on shares of Ares Management from $145.00 to $160.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Finally, Wells Fargo & Company upped their price target on shares of Ares Management from $172.00 to $176.00 and gave the stock an “equal weight” rating in a research report on Monday. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $166.00.

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.