B. Riley Wealth Advisors Inc. Has $331,000 Stake in Ares Management Co. (NYSE:ARES)

B. Riley Wealth Advisors Inc. raised its position in Ares Management Co. (NYSE:ARES) by 13.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,122 shares of the asset manager’s stock after acquiring an additional 258 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Ares Management were worth $331,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Point72 DIFC Ltd bought a new stake in shares of Ares Management in the 3rd quarter valued at about $36,000. Eastern Bank acquired a new position in Ares Management during the third quarter worth approximately $39,000. Key Financial Inc bought a new stake in Ares Management in the second quarter valued at approximately $53,000. Industrial Alliance Investment Management Inc. lifted its position in shares of Ares Management by 80.4% in the second quarter. Industrial Alliance Investment Management Inc. now owns 451 shares of the asset manager’s stock valued at $60,000 after buying an additional 201 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC bought a new position in shares of Ares Management during the 2nd quarter worth approximately $78,000. Institutional investors own 50.03% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. UBS Group increased their price target on Ares Management from $158.00 to $195.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Keefe, Bruyette & Woods upgraded shares of Ares Management from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $166.00 to $202.00 in a research note on Friday. 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. TD Cowen increased their price target on shares of Ares Management from $184.00 to $187.00 and gave the company a “buy” rating in a report on Monday, November 4th. Finally, Royal Bank of Canada boosted their price objective on Ares Management from $170.00 to $185.00 and gave the stock an “outperform” rating in a report on Monday, November 4th. Six equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, Ares Management presently has a consensus rating of “Moderate Buy” and a consensus target price of $172.33.

Insiders Place Their Bets

In related news, CEO Michael J. Arougheti sold 15,825 shares of Ares Management stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $167.24, for a total transaction of $2,646,573.00. Following the sale, the chief executive officer now directly owns 214,079 shares of the company’s stock, valued at approximately $35,802,571.96. The trade was a 6.88 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Ryan Berry sold 14,357 shares of the company’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 owns 233,214 shares of the company’s stock, valued at approximately $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. Insiders sold 634,167 shares of company stock worth $109,917,647 over the last three months. Insiders own 1.20% of the company’s stock.

Ares Management Trading Up 2.9 %

Shares of NYSE:ARES opened at $176.04 on Friday. The company has a market capitalization of $55.11 billion, a P/E ratio of 81.12, a P/E/G ratio of 1.99 and a beta of 1.19. 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 business’s 50 day simple moving average is $171.85 and its 200 day simple moving average is $153.81. Ares Management Co. has a 1 year low of $112.83 and a 1 year high of $185.06.

Ares Management (NYSE:ARES) last issued its quarterly earnings results on Friday, November 1st. The asset manager reported $0.95 EPS for the quarter, topping analysts’ consensus estimates of $0.94 by $0.01. Ares Management had a return on equity of 19.89% and a net margin of 12.51%. The company had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $833.58 million. During the same quarter last year, the business earned $0.83 earnings per share. On average, research analysts anticipate that Ares Management Co. will post 4.06 EPS 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. Shareholders of record on Tuesday, December 17th will be given a dividend of $0.93 per share. The ex-dividend date of this dividend is Tuesday, December 17th. This represents a $3.72 annualized dividend and a yield of 2.11%. Ares Management’s dividend payout ratio is currently 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.