Amalgamated Bank Buys 155 Shares of Ares Management Co. (NYSE:ARES)

Amalgamated Bank lifted its stake in shares of Ares Management Co. (NYSE:ARES) by 1.3% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 12,205 shares of the asset manager’s stock after purchasing an additional 155 shares during the quarter. Amalgamated Bank’s holdings in Ares Management were worth $1,902,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in Ares Management by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 16,599,345 shares of the asset manager’s stock valued at $2,207,381,000 after purchasing an additional 206,996 shares during the period. Massachusetts Financial Services Co. MA grew its position in Ares Management by 58.5% during the second quarter. Massachusetts Financial Services Co. MA now owns 5,058,394 shares of the asset manager’s stock worth $674,183,000 after buying an additional 1,867,933 shares in the last quarter. LRI Investments LLC grew its position in Ares Management by 49.4% during the second quarter. LRI Investments LLC now owns 2,822,565 shares of the asset manager’s stock worth $376,191,000 after buying an additional 933,664 shares in the last quarter. American Century Companies Inc. increased its stake in Ares Management by 24.4% in the 2nd quarter. American Century Companies Inc. now owns 2,316,584 shares of the asset manager’s stock worth $308,754,000 after acquiring an additional 453,657 shares during the last quarter. Finally, Principal Financial Group Inc. raised its holdings in shares of Ares Management by 38.5% in the 2nd quarter. Principal Financial Group Inc. now owns 2,171,188 shares of the asset manager’s stock valued at $289,376,000 after acquiring an additional 603,676 shares in the last quarter. Hedge funds and other institutional investors own 50.03% of the company’s stock.

Insider Activity

In related news, CEO Michael J. Arougheti sold 27,120 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $145.67, for a total value of $3,950,570.40. Following the sale, the chief executive officer now directly owns 222,880 shares of the company’s stock, valued at $32,466,929.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, Chairman Bennett Rosenthal sold 27,172 shares of Ares Management stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $145.67, for a total transaction of $3,958,145.24. Following the sale, the chairman now owns 222,828 shares of the company’s stock, valued at approximately $32,459,354.76. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Michael J. Arougheti sold 27,120 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $145.67, for a total transaction of $3,950,570.40. Following the transaction, the chief executive officer now owns 222,880 shares in the company, valued at $32,466,929.60. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 642,640 shares of company stock valued at $94,882,147. Insiders own 41.89% of the company’s stock.

Ares Management Trading Down 0.5 %

Shares of ARES stock opened at $170.46 on Wednesday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.05 and a quick ratio of 1.05. The business has a 50-day moving average of $158.49 and a 200 day moving average of $147.02. The stock has a market capitalization of $53.35 billion, a PE ratio of 78.54, a P/E/G 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 released its quarterly earnings data 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 20.51% and a net margin of 12.51%. The firm had revenue of $1.13 billion during the quarter, compared to analyst estimates of $833.58 million. During the same quarter in the prior year, the firm posted $0.83 earnings per share. As a group, sell-side analysts anticipate that Ares Management Co. will post 4.07 earnings per share for the current year.

Ares Management Dividend Announcement

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 given a $0.93 dividend. This represents a $3.72 dividend on an annualized basis 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%.

Analyst Upgrades and Downgrades

ARES has been the subject of several recent analyst reports. Morgan Stanley boosted their price objective on Ares Management from $136.00 to $162.00 and gave the stock an “equal weight” rating in a report on Thursday, October 10th. Royal Bank of Canada increased their price target on shares of Ares Management from $170.00 to $185.00 and gave the stock an “outperform” rating in a report on Monday, November 4th. Barclays lifted their price objective on shares of Ares Management from $155.00 to $174.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. Deutsche Bank Aktiengesellschaft increased their target price on Ares Management from $146.00 to $150.00 and gave the company a “hold” rating in a research note on Monday. Finally, Wells Fargo & Company upped their price objective on Ares Management from $172.00 to $176.00 and gave the stock an “equal weight” rating in a report on Monday, November 4th. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $166.36.

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.