Larson Financial Group LLC Acquires 1,439 Shares of Ares Management Co. (NYSE:ARES)

Larson Financial Group LLC lifted its holdings in shares of Ares Management Co. (NYSE:ARES) by 239.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,039 shares of the asset manager’s stock after purchasing an additional 1,439 shares during the period. Larson Financial Group LLC’s holdings in Ares Management were worth $318,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in ARES. Curated Wealth Partners LLC grew its position in shares of Ares Management by 199.7% during the 2nd quarter. Curated Wealth Partners LLC now owns 1,658,217 shares of the asset manager’s stock worth $221,007,000 after buying an additional 3,321,434 shares during the period. LRI Investments LLC acquired a new stake in Ares Management in the first quarter worth $264,729,000. Massachusetts Financial Services Co. MA increased its stake in Ares Management by 58.5% in the second quarter. Massachusetts Financial Services Co. MA now owns 5,058,394 shares of the asset manager’s stock valued at $674,183,000 after purchasing an additional 1,867,933 shares in the last quarter. Lone Pine Capital LLC acquired a new position in shares of Ares Management during the second quarter valued at about $209,884,000. Finally, Millennium Management LLC boosted its position in shares of Ares Management by 722.6% during the 2nd quarter. Millennium Management LLC now owns 1,738,148 shares of the asset manager’s stock worth $231,660,000 after purchasing an additional 1,526,856 shares in the last quarter. Institutional investors and hedge funds own 50.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on ARES shares. TD Cowen upped 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 price target on shares of Ares Management from $146.00 to $150.00 and gave the company a “hold” rating in a research report on Monday, November 11th. Wells Fargo & Company raised their price objective 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. The Goldman Sachs Group boosted their target price on shares of Ares Management from $145.00 to $160.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Finally, Royal Bank of Canada raised their price target on shares of Ares Management from $170.00 to $185.00 and gave the company an “outperform” rating in a research report on Monday, November 4th. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, Ares Management currently has an average rating of “Moderate Buy” and an average price target of $166.36.

Insider Activity at Ares Management

In other Ares Management news, insider David B. Kaplan sold 14,536 shares of the stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $145.63, for a total transaction of $2,116,877.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Ryan Berry sold 57,500 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 456,702 shares in the company, valued at approximately $64,276,239.48. This trade represents a 11.18 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 645,388 shares of company stock worth $103,931,822. Insiders own 1.20% of the company’s stock.

Ares Management Stock Up 1.6 %

Shares of NYSE:ARES opened at $178.81 on Wednesday. Ares Management Co. has a 1 year low of $107.69 and a 1 year high of $178.88. The company has a market capitalization of $55.98 billion, a PE ratio of 82.40, a price-to-earnings-growth ratio of 1.91 and a beta of 1.20. The business has a fifty day moving average price of $164.75 and a two-hundred day moving average price of $149.78. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.05 and a quick ratio of 1.05.

Ares Management (NYSE:ARES) last posted 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 company had revenue of $1.13 billion during the quarter, compared to analyst estimates of $833.58 million. Ares Management had a net margin of 12.51% and a return on equity of 19.89%. During the same quarter in the prior year, the business earned $0.83 earnings per share. Analysts forecast that Ares Management Co. will post 4.06 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. Investors 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 annualized dividend and a yield of 2.08%. Ares Management’s payout ratio is 171.43%.

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.