Ares Management Co. (NYSE:ARES) Stake Lessened by Royce & Associates LP

Royce & Associates LP decreased its position in shares of Ares Management Co. (NYSE:ARES) by 39.3% during the 3rd quarter, Holdings Channel.com reports. The firm owned 34,800 shares of the asset manager’s stock after selling 22,494 shares during the quarter. Royce & Associates LP’s holdings in Ares Management were worth $5,423,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. CIBC Asset Management Inc raised its stake in shares of Ares Management by 5.4% in the 3rd quarter. CIBC Asset Management Inc now owns 6,767 shares of the asset manager’s stock worth $1,055,000 after buying an additional 345 shares in the last quarter. Metis Global Partners LLC raised its position in Ares Management by 9.0% in the third quarter. Metis Global Partners LLC now owns 2,373 shares of the asset manager’s stock worth $370,000 after acquiring an additional 195 shares in the last quarter. Huntington National Bank lifted its holdings in Ares Management by 54.5% in the 3rd quarter. Huntington National Bank now owns 641 shares of the asset manager’s stock valued at $100,000 after acquiring an additional 226 shares during the last quarter. KBC Group NV boosted its position in shares of Ares Management by 3.6% during the 3rd quarter. KBC Group NV now owns 26,780 shares of the asset manager’s stock valued at $4,173,000 after purchasing an additional 923 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. grew its stake in shares of Ares Management by 103.3% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 4,315 shares of the asset manager’s stock worth $672,000 after purchasing an additional 2,192 shares during the last quarter. 50.03% of the stock is currently owned by institutional investors and hedge funds.

Ares Management Price Performance

NYSE ARES opened at $167.50 on Tuesday. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.05 and a quick ratio of 1.05. The firm has a market capitalization of $52.44 billion, a price-to-earnings ratio of 77.19, a price-to-earnings-growth ratio of 1.82 and a beta of 1.20. The company has a 50 day simple moving average of $160.74 and a 200-day simple moving average of $148.01. Ares Management Co. has a 52-week low of $105.89 and a 52-week high of $175.74.

Ares Management (NYSE:ARES) last released its 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 company had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $833.58 million. During the same quarter in the prior year, the firm earned $0.83 EPS. Equities research analysts predict that Ares Management Co. will post 4.07 earnings per share for the current fiscal 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 given 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 yield of 2.22%. Ares Management’s payout ratio is 171.43%.

Insider Buying and Selling at Ares Management

In related news, insider Ryan Berry sold 57,500 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $140.74, for a total value 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 11.18 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider David B. Kaplan sold 19,262 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $146.74, for a total value of $2,826,505.88. Following the completion of the transaction, the insider now owns 81,287 shares in the company, valued at $11,928,054.38. This represents a 19.16 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 530,453 shares of company stock worth $78,577,065 over the last 90 days. 1.20% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several analysts recently 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 target price for the company. Wells Fargo & Company upped their price target on Ares Management from $172.00 to $176.00 and gave the company an “equal weight” rating in a report on Monday, November 4th. Deutsche Bank Aktiengesellschaft raised 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. UBS Group upped their target price on Ares Management from $158.00 to $195.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. Finally, TD Cowen lifted 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. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, Ares Management presently has an average rating of “Moderate Buy” and a consensus target price 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.