Equitable Trust Co. Takes $268,000 Position in Ares Management Co. (NYSE:ARES)

Equitable Trust Co. purchased a new stake in Ares Management Co. (NYSE:ARES) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 1,718 shares of the asset manager’s stock, valued at approximately $268,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ARES. Leavell Investment Management Inc. boosted its stake in Ares Management by 1.3% during the third quarter. Leavell Investment Management Inc. now owns 20,882 shares of the asset manager’s stock worth $3,254,000 after buying an additional 264 shares during the period. AIA Group Ltd boosted its position in shares of Ares Management by 7.6% during the 3rd quarter. AIA Group Ltd now owns 12,800 shares of the asset manager’s stock worth $1,995,000 after purchasing an additional 900 shares during the period. Principal Financial Group Inc. increased its holdings in Ares Management by 31.3% in the 3rd quarter. Principal Financial Group Inc. now owns 2,849,737 shares of the asset manager’s stock valued at $444,103,000 after purchasing an additional 678,549 shares during the last quarter. M&G PLC raised its position in Ares Management by 13.5% in the third quarter. M&G PLC now owns 1,152,239 shares of the asset manager’s stock valued at $179,749,000 after purchasing an additional 137,230 shares during the period. Finally, Amalgamated Bank lifted its stake in Ares Management by 1.3% during the third quarter. Amalgamated Bank now owns 12,205 shares of the asset manager’s stock worth $1,902,000 after purchasing an additional 155 shares in the last quarter. 50.03% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have commented on ARES shares. TD Cowen raised their price target on shares of 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 lifted their price objective on Ares Management from $158.00 to $195.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Redburn Atlantic began coverage on shares of Ares Management in a report on Tuesday, August 27th. They issued a “neutral” rating and a $140.00 target price on the stock. Wells Fargo & Company boosted their price target on shares of Ares Management from $172.00 to $176.00 and gave the stock an “equal weight” rating in a report on Monday, November 4th. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Ares Management from $148.00 to $146.00 and set a “hold” rating for the company in a research report on Monday, November 4th. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $166.00.

Ares Management Price Performance

Shares of NYSE ARES opened at $170.38 on Monday. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.52. The stock has a market cap of $53.33 billion, a P/E ratio of 78.52, a P/E/G ratio of 1.90 and a beta of 1.20. The stock has a 50 day moving average of $157.99 and a two-hundred day moving average of $146.68. Ares Management Co. has a twelve month low of $101.44 and a twelve month high of $175.74.

Ares Management (NYSE:ARES) last issued its quarterly earnings data on Friday, November 1st. The asset manager reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.94 by $0.01. The company had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $833.58 million. Ares Management had a net margin of 12.51% and a return on equity of 20.51%. During the same period last year, the firm posted $0.83 EPS. On average, research analysts forecast that Ares Management Co. will post 4.06 earnings per share for the current 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 2.18%. The ex-dividend date of this dividend is Tuesday, December 17th. Ares Management’s payout ratio is 171.43%.

Insider Transactions at Ares Management

In related news, Chairman Bennett Rosenthal sold 27,172 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $145.67, for a total value of $3,958,145.24. Following the completion of the sale, the chairman now owns 222,828 shares in the company, valued at $32,459,354.76. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Ares Management news, Chairman Bennett Rosenthal sold 27,172 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $145.67, for a total value of $3,958,145.24. Following the completion of the sale, the chairman now owns 222,828 shares of the company’s stock, valued at approximately $32,459,354.76. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Ryan Berry sold 57,500 shares of the company’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $140.74, for a total transaction of $8,092,550.00. Following the transaction, the insider now directly owns 456,702 shares in the company, valued at approximately $64,276,239.48. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 640,969 shares of company stock worth $94,589,722 over the last ninety days. 1.20% of the stock is currently owned by company insiders.

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.