Ares Management Co. (NYSE:ARES) Shares Sold by Prime Capital Investment Advisors LLC

Prime Capital Investment Advisors LLC cut its stake in shares of Ares Management Co. (NYSE:ARES) by 14.2% during the third quarter, HoldingsChannel.com reports. The firm owned 16,882 shares of the asset manager’s stock after selling 2,801 shares during the period. Prime Capital Investment Advisors LLC’s holdings in Ares Management were worth $2,631,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Russell Investments Group Ltd. grew its stake in Ares Management by 23.4% in the 1st quarter. Russell Investments Group Ltd. now owns 45,754 shares of the asset manager’s stock valued at $6,086,000 after acquiring an additional 8,666 shares during the last quarter. Avantax Advisory Services Inc. grew its stake in Ares Management by 15.4% in the 1st quarter. Avantax Advisory Services Inc. now owns 3,109 shares of the asset manager’s stock valued at $413,000 after acquiring an additional 415 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in Ares Management in the 1st quarter valued at about $968,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in Ares Management by 26.7% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 91,417 shares of the asset manager’s stock valued at $12,157,000 after acquiring an additional 19,280 shares during the last quarter. Finally, Blair William & Co. IL grew its stake in Ares Management by 9.6% in the 1st quarter. Blair William & Co. IL now owns 65,144 shares of the asset manager’s stock valued at $8,663,000 after acquiring an additional 5,689 shares during the last quarter. 50.03% of the stock is owned by institutional investors and hedge funds.

Ares Management Trading Down 1.9 %

Shares of ARES stock opened at $167.34 on Thursday. The firm has a market cap of $52.38 billion, a P/E ratio of 77.64, a PEG ratio of 1.87 and a beta of 1.20. Ares Management Co. has a 1-year low of $101.44 and a 1-year high of $175.74. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.05 and a quick ratio of 1.05. The firm’s 50-day simple moving average is $159.06 and its 200-day simple moving average is $147.28.

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, topping analysts’ consensus estimates of $0.94 by $0.01. The firm had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $833.58 million. Ares Management had a net margin of 12.51% and a return on equity of 19.89%. During the same quarter in the prior year, the company earned $0.83 EPS. As a group, equities analysts forecast that Ares Management Co. will post 4.07 EPS for the current year.

Ares Management Dividend Announcement

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 given a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date is Tuesday, December 17th. Ares Management’s dividend payout ratio (DPR) is presently 171.43%.

Insider Buying and Selling

In related news, insider Ryan Berry sold 1,671 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $175.00, for a total transaction of $292,425.00. Following the completion of the sale, the insider now owns 253,214 shares of the company’s stock, valued at approximately $44,312,450. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Ares Management news, insider Ryan Berry sold 1,671 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $175.00, for a total value of $292,425.00. Following the completion of the sale, the insider now owns 253,214 shares of the company’s stock, valued at $44,312,450. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Bennett Rosenthal sold 75,000 shares of the stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $143.05, for a total transaction of $10,728,750.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 561,280 shares of company stock valued at $83,030,436. 1.20% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts recently commented on ARES shares. Barclays increased their price objective on shares of Ares Management from $155.00 to $174.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. The Goldman Sachs Group upped their target price on shares of Ares Management from $145.00 to $160.00 and gave the company a “buy” rating in a report on Monday, September 30th. Redburn Atlantic began coverage on shares of Ares Management in a report on Tuesday, August 27th. They issued a “neutral” rating and a $140.00 target price on the stock. Wells Fargo & Company upped their target price on shares of Ares Management from $172.00 to $176.00 and gave the company an “equal weight” rating in a report on Monday, November 4th. Finally, Royal Bank of Canada upped their target price on shares of Ares Management from $170.00 to $185.00 and gave the company an “outperform” rating in a report on Monday, November 4th. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $166.36.

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.