Sanctuary Advisors LLC Acquires Shares of 6,905 Ares Management Co. (NYSE:ARES)

Sanctuary Advisors LLC bought a new position in shares of Ares Management Co. (NYSE:ARES) during the 2nd quarter, Holdings Channel.com reports. The fund bought 6,905 shares of the asset manager’s stock, valued at approximately $923,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ARES. Gulf International Bank UK Ltd raised its holdings in Ares Management by 0.7% in the 1st quarter. Gulf International Bank UK Ltd now owns 13,420 shares of the asset manager’s stock valued at $1,784,000 after acquiring an additional 90 shares in the last quarter. West Oak Capital LLC grew its stake in 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 buying an additional 100 shares in the last quarter. First Horizon Advisors Inc. increased its holdings in Ares Management by 10.8% in the 2nd quarter. First Horizon Advisors Inc. now owns 1,073 shares of the asset manager’s stock valued at $143,000 after buying an additional 105 shares during the period. Americana Partners LLC raised its position in shares of Ares Management by 7.2% in the 2nd quarter. Americana Partners LLC now owns 1,613 shares of the asset manager’s stock valued at $215,000 after buying an additional 108 shares in the last quarter. Finally, Chase Investment Counsel Corp lifted its holdings in shares of Ares Management by 0.4% during the 1st quarter. Chase Investment Counsel Corp now owns 32,668 shares of the asset manager’s stock worth $4,344,000 after acquiring an additional 115 shares during the period. 50.03% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have commented on ARES. JPMorgan Chase & Co. boosted their price objective on shares of Ares Management from $141.00 to $143.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. UBS Group dropped their price objective on Ares Management from $160.00 to $158.00 and set a “buy” rating for the company in a research report on Wednesday, July 10th. Redburn Atlantic started coverage on Ares Management in a research note on Tuesday, August 27th. They set a “neutral” rating and a $140.00 target price for the company. Deutsche Bank Aktiengesellschaft reduced their price target 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. Finally, Royal Bank of Canada increased their price objective on shares of Ares Management from $150.00 to $170.00 and gave the company an “outperform” rating in a research note on Friday. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Ares Management has an average rating of “Moderate Buy” and a consensus price target of $155.82.

Insider Buying and Selling at Ares Management

In other news, Chairman Bennett Rosenthal sold 27,172 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at $32,459,354.76. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Ares Management news, insider Ryan Berry sold 20,000 shares of Ares Management stock in a transaction on Friday, October 4th. The shares were sold at an average price of $160.07, for a total value of $3,201,400.00. Following the completion of the sale, the insider now directly owns 344,202 shares of the company’s stock, valued at approximately $55,096,414.14. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman Bennett Rosenthal sold 27,172 shares of the stock in a transaction dated 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 directly owns 222,828 shares in the company, valued at $32,459,354.76. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 624,316 shares of company stock valued at $90,919,400. 1.20% of the stock is currently owned by insiders.

Ares Management Trading Up 2.6 %

NYSE ARES opened at $161.95 on Friday. The firm has a market capitalization of $50.17 billion, a PE ratio of 72.62, a price-to-earnings-growth ratio of 1.48 and a beta of 1.22. The business’s 50-day moving average price is $148.14 and its two-hundred day moving average price is $141.80. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.52. Ares Management Co. has a 12 month low of $96.00 and a 12 month high of $162.37.

Ares Management (NYSE:ARES) last announced its earnings results on Friday, August 2nd. The asset manager reported $0.99 EPS for the quarter, beating the consensus estimate of $0.98 by $0.01. Ares Management had a return on equity of 20.46% and a net margin of 12.53%. The business had revenue of $788.68 million for the quarter, compared to analysts’ expectations of $860.09 million. During the same period in the prior year, the business posted $0.90 earnings per share. On average, analysts expect that Ares Management Co. will post 4.16 EPS for the current year.

Ares Management Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were issued a $0.93 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $3.72 annualized dividend and a yield of 2.30%. Ares Management’s payout ratio is 166.82%.

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.