Farther Finance Advisors LLC Reduces Holdings in Ares Management Co. (NYSE:ARES)

Farther Finance Advisors LLC decreased its position in shares of Ares Management Co. (NYSE:ARES) by 3.6% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 4,564 shares of the asset manager’s stock after selling 168 shares during the quarter. Farther Finance Advisors LLC’s holdings in Ares Management were worth $622,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Compass Wealth Management LLC purchased a new position in shares of Ares Management during the first quarter worth about $28,000. Riverview Trust Co purchased a new position in shares of Ares Management during the first quarter worth about $29,000. West Oak Capital LLC grew its holdings 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 worth $33,000 after purchasing an additional 100 shares during the last quarter. Global Retirement Partners LLC grew its holdings in shares of Ares Management by 555.0% during the first quarter. Global Retirement Partners LLC now owns 262 shares of the asset manager’s stock worth $35,000 after purchasing an additional 222 shares during the last quarter. Finally, J.Safra Asset Management Corp grew its holdings in shares of Ares Management by 717.6% during the first quarter. J.Safra Asset Management Corp now owns 278 shares of the asset manager’s stock worth $37,000 after purchasing an additional 244 shares during the last quarter. Hedge funds and other institutional investors own 50.03% of the company’s stock.

Ares Management Price Performance

ARES stock opened at $146.40 on Tuesday. The firm has a 50 day moving average of $142.32 and a 200-day moving average of $138.00. Ares Management Co. has a 12-month low of $96.00 and a 12-month high of $155.53. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.52. The company has a market cap of $45.36 billion, a price-to-earnings ratio of 65.65, a PEG ratio of 1.38 and a beta of 1.22.

Ares Management (NYSE:ARES) last posted its quarterly 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. Ares Management had a net margin of 12.53% and a return on equity of 20.46%. The company had revenue of $788.68 million during the quarter, compared to the consensus estimate of $860.09 million. During the same period last year, the firm earned $0.90 EPS. As a group, equities analysts expect that Ares Management Co. will post 4.15 EPS for the current fiscal year.

Ares Management Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be given a dividend of $0.93 per share. The ex-dividend date is Monday, September 16th. This represents a $3.72 dividend on an annualized basis and a dividend yield of 2.54%. Ares Management’s payout ratio is 166.82%.

Insider Activity

In other news, insider R. Kipp Deveer sold 41,676 shares of the firm’s stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $150.21, for a total transaction of $6,260,151.96. Following the completion of the transaction, the insider now directly owns 1,075,000 shares of the company’s stock, valued at approximately $161,475,750. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CEO Michael J. Arougheti sold 27,120 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $145.67, for a total transaction of $3,950,570.40. Following the completion of the transaction, the chief executive officer now directly owns 222,880 shares of the company’s stock, valued at approximately $32,466,929.60. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider R. Kipp Deveer sold 41,676 shares of the firm’s stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $150.21, for a total transaction of $6,260,151.96. Following the transaction, the insider now directly owns 1,075,000 shares of the company’s stock, valued at $161,475,750. The disclosure for this sale can be found here. In the last three months, insiders sold 688,653 shares of company stock worth $96,639,724. Company insiders own 1.20% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on ARES. UBS Group dropped their price objective on Ares Management from $160.00 to $158.00 and set a “buy” rating on the stock in a report on Wednesday, July 10th. TD Cowen lifted their target price on Ares Management from $158.00 to $162.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Jefferies Financial Group cut their price target on Ares Management from $131.00 to $127.00 and set a “hold” rating for the company in a research note on Thursday, May 9th. Barclays lifted their price objective on shares of Ares Management from $151.00 to $155.00 and gave the company an “overweight” rating in a research report on Monday, August 5th. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Ares Management from $134.00 to $133.00 and set a “hold” rating on the stock in a research note on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, Ares Management currently has a consensus rating of “Hold” and an average target price of $138.92.

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.