Assetmark Inc. Grows Position in Ares Management Co. (NYSE:ARES)

Assetmark Inc. raised its position in Ares Management Co. (NYSE:ARES) by 65.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 41,509 shares of the asset manager’s stock after buying an additional 16,451 shares during the quarter. Assetmark Inc.’s holdings in Ares Management were worth $6,469,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of ARES. J.Safra Asset Management Corp raised its stake in Ares Management by 717.6% during the 1st quarter. J.Safra Asset Management Corp now owns 278 shares of the asset manager’s stock valued at $37,000 after acquiring an additional 244 shares during the last quarter. Eastern Bank acquired a new position in Ares Management in the 3rd quarter valued at $39,000. West Oak Capital LLC lifted its stake in shares of Ares Management by 40.0% in the 2nd quarter. West Oak Capital LLC now owns 350 shares of the asset manager’s stock worth $47,000 after acquiring an additional 100 shares during the period. Key Financial Inc purchased a new stake in shares of Ares Management in the second quarter valued at about $53,000. Finally, EntryPoint Capital LLC acquired a new position in shares of Ares Management during the first quarter worth about $54,000. 50.03% of the stock is owned by institutional investors and hedge funds.

Ares Management Price Performance

ARES stock opened at $171.46 on Tuesday. 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 $157.99 and its 200 day moving average price is $146.75. The firm has a market cap of $53.67 billion, a P/E ratio of 79.01, 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.

Ares Management (NYSE:ARES) last posted its quarterly earnings data on Friday, November 1st. The asset manager reported $0.95 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 analysts’ expectations of $833.58 million. Ares Management had a return on equity of 20.51% and a net margin of 12.51%. During the same quarter last year, the business posted $0.83 EPS. On average, sell-side analysts expect that Ares Management Co. will post 4.07 earnings per share for the current fiscal year.

Ares Management Dividend Announcement

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 2.17%. The ex-dividend date of this dividend is Tuesday, December 17th. Ares Management’s dividend payout ratio is presently 171.43%.

Insider Transactions at Ares Management

In related news, Chairman Bennett Rosenthal sold 75,000 shares of the stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $143.05, for a total transaction of $10,728,750.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, insider David B. Kaplan sold 27,068 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 $3,942,995.56. Following the transaction, the insider now directly owns 222,932 shares of the company’s stock, valued at approximately $32,474,504.44. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman Bennett Rosenthal sold 75,000 shares of the business’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $143.05, for a total value of $10,728,750.00. The disclosure for this sale can be found here. Insiders have sold 640,969 shares of company stock worth $94,589,722 over the last quarter. 1.20% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of brokerages have weighed in on ARES. Deutsche Bank Aktiengesellschaft lifted their price objective on Ares Management from $146.00 to $150.00 and gave the company a “hold” rating in a report on Monday. Redburn Atlantic assumed coverage on Ares Management in a research report on Tuesday, August 27th. They issued a “neutral” rating and a $140.00 price objective for the company. Morgan Stanley upped their price target on shares of Ares Management from $136.00 to $162.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 10th. JPMorgan Chase & Co. cut their price target on shares of Ares Management from $176.00 to $174.00 and set an “overweight” rating for the company in a report on Tuesday, November 5th. Finally, Royal Bank of Canada upped their target price on shares of Ares Management from $170.00 to $185.00 and gave the stock an “outperform” rating in a research report on Monday, November 4th. Six 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 presently has an average rating of “Moderate Buy” and a consensus price target of $166.36.

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.