Brooklyn Investment Group Buys New Shares in Ares Management Co. (NYSE:ARES)

Brooklyn Investment Group bought a new stake in Ares Management Co. (NYSE:ARES) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 597 shares of the asset manager’s stock, valued at approximately $93,000.

A number of other institutional investors have also added to or reduced their stakes in ARES. Curated Wealth Partners LLC increased its stake in Ares Management by 199.7% in the second quarter. Curated Wealth Partners LLC now owns 1,658,217 shares of the asset manager’s stock valued at $221,007,000 after acquiring an additional 3,321,434 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of Ares Management by 58.5% during 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 buying an additional 1,867,933 shares during the last quarter. Lone Pine Capital LLC bought a new position in shares of Ares Management during the second quarter valued at about $209,884,000. Millennium Management LLC grew its stake in shares of Ares Management by 722.6% during the second quarter. Millennium Management LLC now owns 1,738,148 shares of the asset manager’s stock valued at $231,660,000 after buying an additional 1,526,856 shares during the last quarter. Finally, LRI Investments LLC grew its stake in shares of Ares Management by 49.4% during the second quarter. LRI Investments LLC now owns 2,822,565 shares of the asset manager’s stock valued at $376,191,000 after buying an additional 933,664 shares during the last quarter. Institutional investors own 50.03% of the company’s stock.

Ares Management Trading Down 2.3 %

NYSE:ARES opened at $174.78 on Friday. 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 $54.72 billion, a price-to-earnings ratio of 80.54, a price-to-earnings-growth ratio of 1.92 and a beta of 1.20. Ares Management Co. has a one year low of $107.69 and a one year high of $180.38. The business has a fifty day moving average price of $165.56 and a 200-day moving average price of $150.13.

Ares Management (NYSE:ARES) last issued its earnings results on Friday, November 1st. The asset manager reported $0.95 earnings per share for the quarter, topping the consensus estimate 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 posted $0.83 EPS. Sell-side analysts forecast that Ares Management Co. will post 4.06 EPS for the current year.

Ares Management Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th will be issued a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a dividend yield of 2.13%. The ex-dividend date of this dividend is Tuesday, December 17th. Ares Management’s payout ratio is 171.43%.

Insider Activity at Ares Management

In other Ares Management news, CEO Michael J. Arougheti sold 29,292 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $175.82, for a total value of $5,150,119.44. Following the completion of the sale, the chief executive officer now directly owns 86,909 shares in the company, valued at $15,280,340.38. This trade represents a 25.21 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Bennett Rosenthal sold 26,579 shares of Ares Management 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 sale, the chairman now owns 75,000 shares of the company’s stock, valued at $10,699,500. The trade was a 26.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 602,357 shares of company stock valued at $97,672,269. Insiders own 41.89% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on ARES shares. Barclays raised their price objective on Ares Management from $155.00 to $174.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. UBS Group raised their price objective on Ares Management from $158.00 to $195.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Redburn Atlantic began coverage on shares of Ares Management in a report on Tuesday, August 27th. They set a “neutral” rating and a $140.00 target price for the company. Deutsche Bank Aktiengesellschaft increased their target price on shares of Ares Management from $146.00 to $150.00 and gave the stock a “hold” rating in a report on Monday, November 11th. Finally, TD Cowen increased their target price on shares of Ares Management from $184.00 to $187.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target 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.