Glenmede Trust Co. NA Sells 82 Shares of Ares Management Co. (NYSE:ARES)

Glenmede Trust Co. NA reduced its position in Ares Management Co. (NYSE:ARES) by 1.4% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 5,762 shares of the asset manager’s stock after selling 82 shares during the period. Glenmede Trust Co. NA’s holdings in Ares Management were worth $898,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Ares Management Stock Performance

NYSE ARES opened at $173.94 on Tuesday. The company has a market cap of $54.45 billion, a P/E ratio of 80.16, a P/E/G ratio of 1.92 and a beta of 1.20. The business’s 50 day moving average price is $166.32 and its 200-day moving average price is $150.62. Ares Management Co. has a fifty-two week low of $107.69 and a fifty-two week high of $180.38. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.05 and a current ratio of 1.05.

Ares Management (NYSE:ARES) last announced its 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. 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 for the quarter, compared to the consensus estimate of $833.58 million. During the same quarter in the prior year, the firm posted $0.83 earnings per share. Sell-side analysts predict that Ares Management Co. will post 4.06 earnings per share for the current year.

Ares Management Dividend Announcement

The firm 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 dividend of $0.93 per share. The ex-dividend date is Tuesday, December 17th. This represents a $3.72 dividend on an annualized basis and a dividend yield of 2.14%. Ares Management’s dividend payout ratio is 171.43%.

Insider Transactions at Ares Management

In other Ares Management news, insider Ryan Berry sold 1,671 shares of Ares Management stock in a transaction on Monday, November 11th. The stock was sold at an average price of $175.00, for a total transaction of $292,425.00. Following the completion of the sale, the insider now directly owns 253,214 shares of the company’s stock, valued at $44,312,450. The trade was a 0.66 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Bennett Rosenthal sold 75,000 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $143.05, for a total value of $10,728,750.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 666,030 shares of company stock worth $109,779,010. 1.20% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

ARES has been the subject of a number of analyst reports. TD Cowen increased their price target on Ares Management from $184.00 to $187.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Deutsche Bank Aktiengesellschaft lifted 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, November 11th. The Goldman Sachs Group upped their price target on Ares Management from $145.00 to $160.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Wells Fargo & Company raised their target price on shares of Ares Management from $172.00 to $176.00 and gave the company an “equal weight” rating in a research note on Monday, November 4th. Finally, UBS Group increased 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. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Ares Management has an average 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.