Ares Management Co. (NYSE:ARES) Shares Acquired by Lake Street Advisors Group LLC

Lake Street Advisors Group LLC raised its position in shares of Ares Management Co. (NYSE:ARES) by 1.8% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 49,811 shares of the asset manager’s stock after buying an additional 861 shares during the quarter. Lake Street Advisors Group LLC’s holdings in Ares Management were worth $6,639,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of ARES. Curated Wealth Partners LLC boosted its holdings in shares of Ares Management by 199.7% in the 2nd quarter. Curated Wealth Partners LLC now owns 1,658,217 shares of the asset manager’s stock valued at $221,007,000 after buying an additional 3,321,434 shares during the period. LRI Investments LLC acquired a new position in Ares Management in the first quarter valued at approximately $264,729,000. Norges Bank acquired a new stake in shares of Ares Management during the 4th quarter worth approximately $205,499,000. M&G Plc raised its position in shares of Ares Management by 711.1% during the 2nd quarter. M&G Plc now owns 1,015,009 shares of the asset manager’s stock worth $134,996,000 after purchasing an additional 889,872 shares during the period. Finally, Corient Private Wealth LLC lifted its holdings in shares of Ares Management by 216.3% in the 4th quarter. Corient Private Wealth LLC now owns 1,253,644 shares of the asset manager’s stock worth $149,083,000 after purchasing an additional 857,245 shares during the last quarter. Institutional investors own 50.03% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Redburn Atlantic initiated coverage on Ares Management in a research report on Tuesday, August 27th. They issued a “neutral” rating and a $140.00 target price on the stock. UBS Group cut their price objective on shares of Ares Management from $160.00 to $158.00 and set a “buy” rating on the stock in a research report on Wednesday, July 10th. TD Cowen upped their target price on shares of Ares Management from $158.00 to $162.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $150.00 price target on shares of Ares Management in a report on Wednesday, May 22nd. Finally, 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 report on Tuesday, July 30th. One analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $138.92.

Insider Buying and Selling at Ares Management

In other news, Chairman Bennett Rosenthal sold 26,579 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $142.66, for a total transaction of $3,791,760.14. Following the completion of the sale, the chairman now directly owns 75,000 shares of the company’s stock, valued at approximately $10,699,500. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Ares Management news, Chairman Bennett Rosenthal sold 26,579 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $142.66, for a total transaction of $3,791,760.14. Following the completion of the sale, the chairman now directly owns 75,000 shares of the company’s stock, valued at $10,699,500. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider David B. Kaplan sold 125,000 shares of Ares Management stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $131.94, for a total transaction of $16,492,500.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 711,815 shares of company stock valued at $99,973,606. Corporate insiders own 1.20% of the company’s stock.

Ares Management Trading Down 2.6 %

Shares of Ares Management stock opened at $137.39 on Friday. The business has a fifty day simple moving average of $143.00 and a 200-day simple moving average of $138.18. Ares Management Co. has a fifty-two week low of $96.00 and a fifty-two week high of $155.53. The firm has a market cap of $42.57 billion, a price-to-earnings ratio of 61.61, a price-to-earnings-growth ratio of 1.38 and a beta of 1.22. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.52.

Ares Management (NYSE:ARES) last issued its quarterly earnings results on Friday, August 2nd. The asset manager reported $0.99 earnings per share for the quarter, beating analysts’ consensus estimates of $0.98 by $0.01. Ares Management had a net margin of 12.53% and a return on equity of 20.46%. The company had revenue of $788.68 million during the quarter, compared to the consensus estimate of $860.09 million. During the same period in the prior year, the company earned $0.90 EPS. On average, equities analysts forecast that Ares Management Co. will post 4.15 EPS for the current fiscal year.

Ares Management Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be issued a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a yield of 2.71%. The ex-dividend date is Monday, September 16th. Ares Management’s payout ratio is 166.82%.

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.