Loomis Sayles & Co. L P Trims Stock Position in Ares Management Co. (NYSE:ARES)

Loomis Sayles & Co. L P decreased its holdings in Ares Management Co. (NYSE:ARES) by 10.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 673 shares of the asset manager’s stock after selling 76 shares during the quarter. Loomis Sayles & Co. L P’s holdings in Ares Management were worth $105,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Eastern Bank purchased a new position in shares of Ares Management in the 3rd quarter worth $39,000. West Oak Capital LLC raised its holdings in shares of Ares Management by 40.0% in the 2nd quarter. West Oak Capital LLC now owns 350 shares of the asset manager’s stock worth $47,000 after purchasing an additional 100 shares during the period. Key Financial Inc acquired a new position in shares of Ares Management in the 2nd quarter valued at about $53,000. Industrial Alliance Investment Management Inc. grew its holdings in shares of Ares Management by 80.4% during the 2nd quarter. Industrial Alliance Investment Management Inc. now owns 451 shares of the asset manager’s stock worth $60,000 after purchasing an additional 201 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. increased its position in Ares Management by 21.0% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 559 shares of the asset manager’s stock worth $87,000 after purchasing an additional 97 shares in the last quarter. Institutional investors and hedge funds own 50.03% of the company’s stock.

Ares Management Price Performance

Shares of NYSE ARES opened at $174.78 on Friday. The business has a 50 day moving average price of $165.56 and a two-hundred day moving average price of $150.13. Ares Management Co. has a fifty-two week low of $107.69 and a fifty-two week high of $180.38. The firm has a market cap of $54.72 billion, a PE ratio of 80.54, a price-to-earnings-growth ratio of 1.92 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 issued its quarterly earnings results on Friday, November 1st. The asset manager reported $0.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.94 by $0.01. Ares Management had a net margin of 12.51% and a return on equity of 19.89%. The business had revenue of $1.13 billion during the quarter, compared to analyst estimates of $833.58 million. During the same quarter in the previous year, the firm earned $0.83 earnings per share. Sell-side analysts expect that Ares Management Co. will post 4.06 earnings per share for the current fiscal year.

Ares Management Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th will be paid a $0.93 dividend. The ex-dividend date is Tuesday, December 17th. This represents a $3.72 dividend on an annualized basis and a dividend yield of 2.13%. Ares Management’s dividend payout ratio (DPR) is presently 171.43%.

Insider Transactions at Ares Management

In other Ares Management news, insider Ryan Berry sold 57,500 shares of the stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $140.74, for a total transaction of $8,092,550.00. Following the sale, the insider now directly owns 456,702 shares of the company’s stock, valued at approximately $64,276,239.48. This represents a 11.18 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Bennett Rosenthal sold 26,579 shares of Ares Management stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $142.66, for a total transaction of $3,791,760.14. Following the completion of the transaction, the chairman now directly owns 75,000 shares of the company’s stock, valued at $10,699,500. This trade represents a 26.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 602,357 shares of company stock valued at $97,672,269. Insiders own 41.89% of the company’s stock.

Analyst Upgrades and Downgrades

ARES has been the topic of a number of recent research reports. UBS Group lifted their price target on shares of Ares Management from $158.00 to $195.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Barclays lifted their target price on shares of Ares Management from $155.00 to $174.00 and gave the company an “overweight” rating in a report on Monday, October 7th. The Goldman Sachs Group increased their price target on Ares Management from $145.00 to $160.00 and gave the company a “buy” rating in a report on Monday, September 30th. Deutsche Bank Aktiengesellschaft boosted their price objective on Ares Management from $146.00 to $150.00 and gave the stock a “hold” rating in a research note on Monday, November 11th. Finally, TD Cowen upped their target price on Ares Management from $184.00 to $187.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $166.36.

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.