CIBC Asset Management Inc Acquires 345 Shares of Ares Management Co. (NYSE:ARES)

CIBC Asset Management Inc boosted its holdings in shares of Ares Management Co. (NYSE:ARES) by 5.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,767 shares of the asset manager’s stock after buying an additional 345 shares during the quarter. CIBC Asset Management Inc’s holdings in Ares Management were worth $1,055,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Curated Wealth Partners LLC raised its position in shares of Ares Management by 199.7% in the 2nd quarter. Curated Wealth Partners LLC now owns 1,658,217 shares of the asset manager’s stock worth $221,007,000 after acquiring an additional 3,321,434 shares in the last quarter. LRI Investments LLC purchased a new stake in shares of Ares Management during the first quarter valued at about $264,729,000. Massachusetts Financial Services Co. MA boosted its holdings in shares of Ares Management by 58.5% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 5,058,394 shares of the asset manager’s stock valued at $674,183,000 after buying an additional 1,867,933 shares in the last quarter. Lone Pine Capital LLC purchased a new position in shares of Ares Management in the 2nd quarter worth approximately $209,884,000. Finally, Millennium Management LLC raised its stake in shares of Ares Management by 722.6% during the 2nd quarter. Millennium Management LLC now owns 1,738,148 shares of the asset manager’s stock worth $231,660,000 after acquiring an additional 1,526,856 shares in the last quarter. Institutional investors own 50.03% of the company’s stock.

Insiders Place Their Bets

In other news, Chairman Bennett Rosenthal sold 75,000 shares of Ares Management 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 sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Michael J. Arougheti sold 36,469 shares of the company’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $146.36, for a total transaction of $5,337,602.84. Following the transaction, the chief executive officer now owns 100,501 shares of the company’s stock, valued at approximately $14,709,326.36. This trade represents a 26.63 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 590,579 shares of company stock worth $89,737,173. Company insiders own 41.89% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on ARES shares. Deutsche Bank Aktiengesellschaft raised their target price on shares of Ares Management from $146.00 to $150.00 and gave the company a “hold” rating in a research note on Monday, November 11th. TD Cowen upped their target price on Ares Management from $184.00 to $187.00 and gave the company a “buy” rating in a research report on Monday, November 4th. UBS Group increased their price target on Ares Management from $158.00 to $195.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Wells Fargo & Company boosted their price target on Ares Management from $172.00 to $176.00 and gave the stock an “equal weight” rating in a research note on Monday, November 4th. Finally, The Goldman Sachs Group increased their price objective on shares of Ares Management from $145.00 to $160.00 and gave the company a “buy” rating in a research report on Monday, September 30th. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, Ares Management presently has a consensus rating of “Moderate Buy” and an average target price of $166.36.

Ares Management Stock Performance

NYSE ARES opened at $171.89 on Thursday. The firm has a market capitalization of $53.81 billion, a P/E ratio of 79.21, a PEG ratio of 1.82 and a beta of 1.20. The stock has a 50-day simple moving average of $161.90 and a two-hundred day simple moving average of $148.51. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.05 and a current ratio of 1.05. Ares Management Co. has a fifty-two week low of $105.89 and a fifty-two week high of $175.74.

Ares Management (NYSE:ARES) last announced its quarterly 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. The company had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $833.58 million. Ares Management had a return on equity of 19.89% and a net margin of 12.51%. During the same period in the previous year, the company posted $0.83 earnings per share. On average, equities analysts forecast that Ares Management Co. will post 4.07 earnings per share for the current year.

Ares Management Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th will be issued a $0.93 dividend. The ex-dividend date is Tuesday, December 17th. This represents a $3.72 dividend on an annualized basis and a yield of 2.16%. Ares Management’s payout ratio is 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.