Fifth Third Wealth Advisors LLC Has $605,000 Position in Ares Management Co. (NYSE:ARES)

Fifth Third Wealth Advisors LLC raised its stake in shares of Ares Management Co. (NYSE:ARES) by 26.9% during the 3rd quarter, HoldingsChannel reports. The firm owned 3,880 shares of the asset manager’s stock after purchasing an additional 823 shares during the quarter. Fifth Third Wealth Advisors LLC’s holdings in Ares Management were worth $605,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of ARES. EP Wealth Advisors LLC grew its stake in Ares Management by 32.5% in the 1st quarter. EP Wealth Advisors LLC now owns 20,345 shares of the asset manager’s stock valued at $2,705,000 after buying an additional 4,996 shares during the last quarter. Vaughan Nelson Investment Management L.P. grew its position in shares of Ares Management by 24.6% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 192,634 shares of the asset manager’s stock valued at $25,674,000 after purchasing an additional 38,047 shares during the last quarter. Cetera Investment Advisers increased its stake in shares of Ares Management by 45.9% in the first quarter. Cetera Investment Advisers now owns 82,717 shares of the asset manager’s stock worth $11,000,000 after purchasing an additional 26,012 shares during the period. LRI Investments LLC acquired a new position in shares of Ares Management during the 1st quarter worth about $264,729,000. Finally, Retireful LLC bought a new stake in Ares Management during the 2nd quarter valued at approximately $696,000. Institutional investors own 50.03% of the company’s stock.

Insider Buying and Selling

In related news, insider David B. Kaplan sold 36,059 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $146.35, for a total transaction of $5,277,234.65. Following the completion of the sale, the insider now directly owns 100,549 shares of the company’s stock, valued at $14,715,346.15. This trade represents a 26.40 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Ryan Berry sold 57,500 shares of the business’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $140.74, for a total value of $8,092,550.00. Following the completion of the transaction, the insider now directly owns 456,702 shares in the company, valued at approximately $64,276,239.48. This represents a 11.18 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 590,579 shares of company stock worth $89,737,173 in the last quarter. 41.89% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

ARES has been the topic of several recent analyst reports. Barclays lifted their price target on Ares Management from $155.00 to $174.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Morgan Stanley boosted their target price on shares of Ares Management from $136.00 to $162.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 10th. Wells Fargo & Company increased their price target 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. UBS Group boosted their price objective on shares of Ares Management from $158.00 to $195.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Finally, The Goldman Sachs Group upped 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 issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $166.36.

Ares Management Trading Up 0.9 %

ARES stock opened at $171.89 on Thursday. Ares Management Co. has a 1-year low of $105.89 and a 1-year high of $175.74. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.53. The business’s 50 day moving average is $161.90 and its 200-day moving average is $148.51. The firm has a market cap of $53.81 billion, a P/E ratio of 79.21, a P/E/G ratio of 1.82 and a beta of 1.20.

Ares Management (NYSE:ARES) last announced its quarterly earnings results on Friday, November 1st. The asset manager reported $0.95 earnings per share for the quarter, beating analysts’ consensus estimates of $0.94 by $0.01. Ares Management had a return on equity of 19.89% and a net margin of 12.51%. The firm had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $833.58 million. During the same period in the prior year, the business posted $0.83 earnings per share. Equities analysts anticipate that Ares Management Co. will post 4.07 earnings per share for the current fiscal year.

Ares Management Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th will be issued a $0.93 dividend. This represents a $3.72 annualized dividend and a dividend yield of 2.16%. The ex-dividend date is Tuesday, December 17th. 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.