Ares Management Co. (NYSE:ARES) Shares Sold by Avitas Wealth Management LLC

Avitas Wealth Management LLC trimmed its holdings in Ares Management Co. (NYSE:ARES) by 7.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,289 shares of the asset manager’s stock after selling 174 shares during the quarter. Avitas Wealth Management LLC’s holdings in Ares Management were worth $357,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Sequoia Financial Advisors LLC lifted its holdings in Ares Management by 3.9% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 2,560 shares of the asset manager’s stock valued at $399,000 after acquiring an additional 95 shares during the last quarter. Whittier Trust Co. of Nevada Inc. lifted 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 valued at $87,000 after acquiring an additional 97 shares during the last quarter. West Oak Capital LLC lifted its stake in Ares Management by 40.0% during the second quarter. West Oak Capital LLC now owns 350 shares of the asset manager’s stock valued at $47,000 after buying an additional 100 shares in the last quarter. First Horizon Advisors Inc. lifted its stake in Ares Management by 10.8% during the second quarter. First Horizon Advisors Inc. now owns 1,073 shares of the asset manager’s stock valued at $143,000 after buying an additional 105 shares in the last quarter. Finally, Americana Partners LLC lifted its stake in Ares Management by 7.2% during the second quarter. Americana Partners LLC now owns 1,613 shares of the asset manager’s stock valued at $215,000 after buying an additional 108 shares in the last quarter. 50.03% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider David B. Kaplan sold 27,068 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $145.67, for a total value of $3,942,995.56. Following the transaction, the insider now owns 222,932 shares in the company, valued at approximately $32,474,504.44. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Ares Management news, insider David B. Kaplan sold 27,068 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $145.67, for a total transaction of $3,942,995.56. Following the transaction, the insider now owns 222,932 shares in the company, valued at $32,474,504.44. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Ryan Berry sold 40,000 shares of the stock in a transaction that occurred on Thursday, October 17th. The shares were sold at an average price of $167.99, for a total value of $6,719,600.00. Following the transaction, the insider now owns 304,202 shares in the company, valued at approximately $51,102,893.98. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 622,640 shares of company stock worth $91,378,848. Insiders own 1.20% of the company’s stock.

Ares Management Price Performance

Shares of ARES opened at $168.92 on Thursday. The company has a market capitalization of $52.33 billion, a price-to-earnings ratio of 75.75, a P/E/G ratio of 1.48 and a beta of 1.22. Ares Management Co. has a fifty-two week low of $96.00 and a fifty-two week high of $171.78. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.05 and a quick ratio of 1.05. The business’s 50-day moving average is $155.08 and its 200-day moving average is $144.97.

Ares Management (NYSE:ARES) last released its quarterly earnings data on Friday, August 2nd. The asset manager reported $0.99 EPS for the quarter, topping analysts’ consensus estimates of $0.98 by $0.01. Ares Management had a return on equity of 20.46% and a net margin of 12.53%. The firm had revenue of $788.68 million for the quarter, compared to the consensus estimate of $860.09 million. During the same quarter in the prior year, the company posted $0.90 earnings per share. Equities research analysts expect that Ares Management Co. will post 4.16 EPS for the current fiscal year.

Ares Management Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were issued a $0.93 dividend. The ex-dividend date was Monday, September 16th. This represents a $3.72 dividend on an annualized basis and a yield of 2.20%. Ares Management’s dividend payout ratio is currently 166.82%.

Analyst Ratings Changes

A number of analysts have commented on ARES shares. Redburn Atlantic started coverage on shares of Ares Management in a research note on Tuesday, August 27th. They set a “neutral” rating and a $140.00 price objective for the company. 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 research note on Monday, September 30th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Ares Management from $134.00 to $133.00 and set a “hold” rating for the company in a research note on Thursday, August 15th. TD Cowen upped their price objective on shares of Ares Management from $162.00 to $175.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Finally, 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 research note on Tuesday, October 22nd. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, 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.