Atria Investments Inc Acquires 2,158 Shares of Ares Management Co. (NYSE:ARES)

Atria Investments Inc lifted its holdings in Ares Management Co. (NYSE:ARES) by 39.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,563 shares of the asset manager’s stock after purchasing an additional 2,158 shares during the quarter. Atria Investments Inc’s holdings in Ares Management were worth $1,179,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Eastern Bank acquired a new position in Ares Management during the third quarter worth $39,000. West Oak Capital LLC increased its holdings in Ares Management by 40.0% during the second quarter. West Oak Capital LLC now owns 350 shares of the asset manager’s stock worth $47,000 after buying an additional 100 shares during the last quarter. Key Financial Inc acquired a new position in Ares Management during the second quarter worth $53,000. EntryPoint Capital LLC acquired a new position in Ares Management during the first quarter worth $54,000. Finally, Industrial Alliance Investment Management Inc. increased its holdings in Ares Management by 80.4% during the second quarter. Industrial Alliance Investment Management Inc. now owns 451 shares of the asset manager’s stock worth $60,000 after buying an additional 201 shares during the last quarter. Institutional investors own 50.03% of the company’s stock.

Insiders Place Their Bets

In related news, Chairman Bennett Rosenthal sold 10,154 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $144.46, for a total transaction of $1,466,846.84. Following the completion of the transaction, the chairman now owns 191,508 shares in the company, valued at $27,665,245.68. This represents a 5.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider David B. Kaplan sold 10,450 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $144.46, for a total value of $1,509,607.00. Following the transaction, the insider now owns 191,334 shares of the company’s stock, valued at approximately $27,640,109.64. This represents a 5.18 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 561,280 shares of company stock valued at $83,030,436 over the last quarter. 1.20% of the stock is owned by corporate insiders.

Ares Management Trading Down 1.1 %

Shares of ARES opened at $167.21 on Friday. The business’s 50-day moving average price is $160.74 and its 200-day moving average price is $147.79. Ares Management Co. has a twelve month low of $101.44 and a twelve month high of $175.74. The stock has a market cap of $52.35 billion, a PE ratio of 77.06, a P/E/G ratio of 1.82 and a beta of 1.20. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.53.

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 the consensus estimate of $0.94 by $0.01. The firm had revenue of $1.13 billion for the quarter, compared to analysts’ expectations 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 prior year, the business posted $0.83 earnings per share. On average, equities analysts forecast that Ares Management Co. will post 4.07 EPS for the current fiscal year.

Ares Management Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th will be paid a $0.93 dividend. This represents a $3.72 annualized dividend and a yield of 2.22%. The ex-dividend date is Tuesday, December 17th. Ares Management’s dividend payout ratio is currently 171.43%.

Analyst Ratings Changes

Several equities analysts have commented on the stock. TD Cowen upped their price objective on shares of Ares Management from $184.00 to $187.00 and gave the company a “buy” rating in a report on Monday, November 4th. JPMorgan Chase & Co. decreased their price objective on shares of Ares Management from $176.00 to $174.00 and set an “overweight” rating on the stock in a report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Ares Management from $146.00 to $150.00 and gave the company a “hold” rating in a report on Monday, November 11th. UBS Group upped their price objective on shares of Ares Management from $158.00 to $195.00 and gave the company 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 report on Monday, September 30th. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Ares Management currently has a consensus rating of “Moderate Buy” and a consensus target price 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.