Envestnet Asset Management Inc. Trims Position in Ares Management Co. (NYSE:ARES)

Envestnet Asset Management Inc. trimmed its position in Ares Management Co. (NYSE:ARES) by 1.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 873,063 shares of the asset manager’s stock after selling 16,609 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.28% of Ares Management worth $116,362,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Dai ichi Life Insurance Company Ltd increased its holdings in Ares Management by 49.2% during the 4th quarter. Dai ichi Life Insurance Company Ltd now owns 19,949 shares of the asset manager’s stock worth $2,372,000 after acquiring an additional 6,576 shares during the period. Grayhawk Investment Strategies Inc. bought a new stake in Ares Management during the fourth quarter valued at $1,100,000. EP Wealth Advisors LLC increased 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 worth $2,705,000 after acquiring an additional 4,996 shares during the last quarter. Norden Group LLC raised its holdings in shares of Ares Management by 2,695.3% in the 1st quarter. Norden Group LLC now owns 70,414 shares of the asset manager’s stock valued at $9,364,000 after acquiring an additional 67,895 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its position in shares of Ares Management by 17.7% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 397,285 shares of the asset manager’s stock valued at $52,831,000 after acquiring an additional 59,668 shares during the last quarter. 50.03% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Ares Management news, Chairman Bennett Rosenthal sold 150,000 shares of the business’s stock in a transaction on Friday, June 21st. The shares were sold at an average price of $131.94, for a total transaction of $19,791,000.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Ares Management news, Chairman Bennett Rosenthal sold 150,000 shares of Ares Management stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $131.94, for a total transaction of $19,791,000.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider R. Kipp Deveer sold 41,676 shares of the company’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 value of $6,260,151.96. Following the transaction, the insider now owns 1,075,000 shares in the company, valued at approximately $161,475,750. The disclosure for this sale can be found here. Insiders sold 866,816 shares of company stock valued at $122,071,500 over the last quarter. 1.20% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on ARES. Redburn Atlantic began coverage on shares of Ares Management in a research report on Tuesday, August 27th. They set a “neutral” rating and a $140.00 target price for the company. Royal Bank of Canada reissued an “outperform” rating and set a $150.00 price objective on shares of Ares Management in a report on Wednesday, May 22nd. Barclays upped their target price on Ares Management from $151.00 to $155.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. JPMorgan Chase & Co. lifted their price target on shares of Ares Management from $141.00 to $143.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. Finally, UBS Group cut their price objective on shares of Ares Management from $160.00 to $158.00 and set a “buy” rating for the company in a research note on Wednesday, July 10th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $141.42.

Ares Management Trading Up 1.3 %

Shares of ARES opened at $149.33 on Tuesday. The firm has a fifty day simple moving average of $143.79 and a two-hundred day simple moving average of $138.77. Ares Management Co. has a twelve month low of $96.00 and a twelve month high of $155.53. The stock has a market capitalization of $46.26 billion, a P/E ratio of 66.96, a PEG ratio of 1.33 and a beta of 1.21. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.52.

Ares Management (NYSE:ARES) last posted its earnings results on Friday, August 2nd. The asset manager reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.01. The company had revenue of $788.68 million for the quarter, compared to analysts’ expectations of $860.09 million. Ares Management had a return on equity of 20.46% and a net margin of 12.53%. During the same period last year, the firm earned $0.90 earnings per share. On average, research analysts anticipate that Ares Management Co. will post 4.15 EPS for the current year.

Ares Management Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be issued a dividend of $0.93 per share. The ex-dividend date of this dividend is Monday, September 16th. This represents a $3.72 dividend on an annualized basis and a dividend yield of 2.49%. Ares Management’s dividend payout ratio is presently 166.82%.

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.