HM Payson & Co. Purchases 704 Shares of Ares Management Co. (NYSE:ARES)

HM Payson & Co. boosted its position in shares of Ares Management Co. (NYSE:ARES) by 117.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,304 shares of the asset manager’s stock after purchasing an additional 704 shares during the period. HM Payson & Co.’s holdings in Ares Management were worth $203,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. EP Wealth Advisors LLC boosted its stake in shares of Ares Management by 32.5% during the first quarter. EP Wealth Advisors LLC now owns 20,345 shares of the asset manager’s stock valued at $2,705,000 after purchasing an additional 4,996 shares during the period. Sumitomo Mitsui Trust Holdings Inc. grew its stake in Ares Management by 17.7% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 397,285 shares of the asset manager’s stock worth $52,831,000 after acquiring an additional 59,668 shares in the last quarter. FORA Capital LLC purchased a new position in shares of Ares Management during the first quarter worth approximately $3,434,000. Vaughan Nelson Investment Management L.P. raised its stake in shares of Ares Management by 24.6% during the second quarter. Vaughan Nelson Investment Management L.P. now owns 192,634 shares of the asset manager’s stock valued at $25,674,000 after acquiring an additional 38,047 shares in the last quarter. Finally, Forsta AP Fonden raised its stake in shares of Ares Management by 20.4% during the first quarter. Forsta AP Fonden now owns 39,000 shares of the asset manager’s stock valued at $5,186,000 after acquiring an additional 6,600 shares in the last quarter. 50.03% of the stock is owned by hedge funds and other institutional investors.

Ares Management Trading Down 3.2 %

NYSE ARES opened at $162.24 on Friday. Ares Management Co. has a 52 week low of $101.44 and a 52 week high of $171.78. The company has a 50 day moving average price of $155.87 and a 200 day moving average price of $145.35. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.52. The firm has a market cap of $50.78 billion, a PE ratio of 84.50, a price-to-earnings-growth ratio of 1.62 and a beta of 1.22.

Ares Management (NYSE:ARES) last announced its earnings results on Friday, August 2nd. The asset manager reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.01. Ares Management had a return on equity of 20.46% and a net margin of 12.53%. The company had revenue of $788.68 million for the quarter, compared to analyst estimates of $860.09 million. During the same period in the prior year, the company posted $0.90 EPS. As a group, sell-side analysts forecast that Ares Management Co. will post 4.11 EPS for the current fiscal year.

Insider Transactions at Ares Management

In related news, Chairman Bennett Rosenthal sold 10,154 shares of the 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 $1,466,846.84. Following the completion of the transaction, the chairman now directly owns 191,508 shares of the company’s stock, valued at $27,665,245.68. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Ares Management news, insider Ryan Berry sold 57,500 shares of Ares Management stock in a transaction dated 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 completion of the sale, the insider now owns 456,702 shares of the company’s stock, valued at approximately $64,276,239.48. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Bennett Rosenthal sold 10,154 shares of the business’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $144.46, for a total value of $1,466,846.84. Following the sale, the chairman now owns 191,508 shares in the company, valued at approximately $27,665,245.68. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 622,640 shares of company stock worth $91,378,848. Insiders own 1.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on ARES shares. JPMorgan Chase & Co. increased their price objective on Ares Management from $141.00 to $143.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. Royal Bank of Canada raised their price target on Ares Management from $150.00 to $170.00 and gave the company an “outperform” rating in a research note on Friday, October 11th. Redburn Atlantic began coverage on shares of Ares Management in a research note on Tuesday, August 27th. They issued a “neutral” rating and a $140.00 price objective for the company. Morgan Stanley raised their target price on shares of Ares Management from $136.00 to $162.00 and gave the company an “equal weight” rating in a research report on Thursday, October 10th. Finally, Wells Fargo & Company upped their price target on shares of Ares Management from $156.00 to $172.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 9th. 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.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $159.18.

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.