Ares Management Co. (NYSE:ARES) Shares Purchased by US Bancorp DE

US Bancorp DE boosted its stake in Ares Management Co. (NYSE:ARES) by 4.4% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 16,727 shares of the asset manager’s stock after purchasing an additional 712 shares during the period. US Bancorp DE’s holdings in Ares Management were worth $2,607,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the stock. HM Payson & Co. increased its position in Ares Management by 117.3% in the 3rd quarter. HM Payson & Co. now owns 1,304 shares of the asset manager’s stock valued at $203,000 after acquiring an additional 704 shares during the period. First Trust Direct Indexing L.P. increased its position in Ares Management by 62.0% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 2,683 shares of the asset manager’s stock worth $418,000 after purchasing an additional 1,027 shares during the period. abrdn plc increased its position in Ares Management by 1,085.0% during the 3rd quarter. abrdn plc now owns 46,892 shares of the asset manager’s stock worth $7,308,000 after purchasing an additional 42,935 shares during the period. Asahi Life Asset Management CO. LTD. acquired a new position in Ares Management during the 3rd quarter worth approximately $396,000. Finally, Baker Tilly Wealth Management LLC increased its position in Ares Management by 19.9% during the 3rd quarter. Baker Tilly Wealth Management LLC now owns 2,504 shares of the asset manager’s stock worth $390,000 after purchasing an additional 415 shares during the period. Institutional investors and hedge funds own 50.03% of the company’s stock.

Insiders Place Their Bets

In other Ares Management news, Chairman Bennett Rosenthal sold 27,172 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $145.67, for a total transaction of $3,958,145.24. Following the transaction, the chairman now owns 222,828 shares of the company’s stock, valued at $32,459,354.76. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Ares Management 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 $64,276,239.48. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Chairman Bennett Rosenthal sold 27,172 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $145.67, for a total value of $3,958,145.24. Following the transaction, the chairman now directly owns 222,828 shares in the company, valued at approximately $32,459,354.76. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 622,640 shares of company stock valued at $91,378,848 in the last quarter. 41.89% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms have issued reports on ARES. UBS Group boosted their target price on Ares Management from $158.00 to $195.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Wells Fargo & Company boosted their target price on Ares Management from $172.00 to $176.00 and gave the stock an “equal weight” rating in a research report on Monday. TD Cowen boosted their target price on Ares Management from $184.00 to $187.00 and gave the stock a “buy” rating in a research report on Monday. Morgan Stanley boosted their target price on Ares Management from $136.00 to $162.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 10th. Finally, Barclays upped their price target on Ares Management from $155.00 to $174.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $166.00.

Ares Management Price Performance

ARES stock opened at $164.53 on Wednesday. Ares Management Co. has a 1 year low of $101.44 and a 1 year high of $171.78. 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 stock’s 50 day moving average price is $156.49 and its 200 day moving average price is $146.00. The firm has a market cap of $51.50 billion, a P/E ratio of 75.82, a PEG ratio of 1.56 and a beta of 1.20.

Ares Management (NYSE:ARES) last posted its earnings results on Friday, November 1st. The asset manager reported $0.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.94 by $0.01. Ares Management had a return on equity of 20.51% and a net margin of 12.51%. The firm had revenue of $1.13 billion for the quarter, compared to analyst estimates of $833.58 million. During the same quarter in the prior year, the company earned $0.83 EPS. On average, sell-side analysts expect that Ares Management Co. will post 4.11 earnings per share for the current fiscal year.

Ares Management Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th will be paid a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a dividend yield of 2.26%. The ex-dividend date of this dividend is Tuesday, December 17th. Ares Management’s dividend payout ratio is presently 171.43%.

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.