Sanctuary Advisors LLC Acquires 3,715 Shares of Ares Management Co. (NYSE:ARES)

Sanctuary Advisors LLC raised its stake in Ares Management Co. (NYSE:ARES) by 53.8% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 10,620 shares of the asset manager’s stock after buying an additional 3,715 shares during the quarter. Sanctuary Advisors LLC’s holdings in Ares Management were worth $1,655,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in ARES. Point72 DIFC Ltd bought a new stake in Ares Management in the 3rd quarter valued at $36,000. Eastern Bank bought a new stake in shares of Ares Management in the third quarter valued at about $39,000. Key Financial Inc acquired a new position in shares of Ares Management during the second quarter worth about $53,000. Industrial Alliance Investment Management Inc. grew its holdings in shares of Ares Management by 80.4% during the second quarter. Industrial Alliance Investment Management Inc. now owns 451 shares of the asset manager’s stock worth $60,000 after buying an additional 201 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. raised its position 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 buying an additional 97 shares during the last quarter. Institutional investors and hedge funds own 50.03% of the company’s stock.

Wall Street Analyst Weigh In

ARES has been the subject of several research reports. JPMorgan Chase & Co. decreased their price target on shares of Ares Management from $176.00 to $174.00 and set an “overweight” rating for the company in a research note on Tuesday, November 5th. 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 note on Monday, November 11th. The Goldman Sachs Group increased their price objective on shares of Ares Management from $145.00 to $160.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Redburn Atlantic initiated coverage on Ares Management in a report on Tuesday, August 27th. They issued a “neutral” rating and a $140.00 price objective for the company. Finally, Morgan Stanley upped their target price on Ares Management from $136.00 to $162.00 and gave the stock an “equal weight” rating in a report on Thursday, October 10th. Six investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $169.64.

Insider Activity

In other Ares Management news, CEO Michael J. Arougheti sold 20,096 shares of the business’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $167.44, for a total value of $3,364,874.24. Following the completion of the sale, the chief executive officer now owns 229,904 shares of the company’s stock, valued at $38,495,125.76. The trade was a 8.04 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Ryan Berry sold 14,357 shares of the firm’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $180.16, for a total transaction of $2,586,557.12. Following the transaction, the insider now directly owns 233,214 shares in the company, valued at $42,015,834.24. This represents a 5.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 634,167 shares of company stock valued at $109,917,647. 1.20% of the stock is owned by insiders.

Ares Management Stock Performance

Shares of NYSE ARES opened at $171.08 on Friday. Ares Management Co. has a 12 month low of $112.83 and a 12 month high of $185.06. The stock has a 50 day moving average of $171.57 and a 200-day moving average of $153.55. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.53. The company has a market capitalization of $53.56 billion, a P/E ratio of 78.84, a P/E/G ratio of 1.99 and a beta of 1.19.

Ares Management (NYSE:ARES) last released its quarterly earnings data on Friday, November 1st. The asset manager reported $0.95 EPS for the quarter, beating the consensus estimate of $0.94 by $0.01. The firm had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $833.58 million. Ares Management had a net margin of 12.51% and a return on equity of 19.89%. During the same period in the previous year, the company earned $0.83 earnings per share. As a group, equities research analysts predict that Ares Management Co. will post 4.06 EPS for the current year.

Ares Management Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th will be issued a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a dividend yield of 2.17%. The ex-dividend date of this dividend is Tuesday, December 17th. Ares Management’s dividend payout ratio is presently 171.43%.

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.