Segall Bryant & Hamill LLC Purchases 28,231 Shares of Ares Management Co. (NYSE:ARES)

Segall Bryant & Hamill LLC lifted its position in shares of Ares Management Co. (NYSE:ARES) by 14.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 230,010 shares of the asset manager’s stock after purchasing an additional 28,231 shares during the period. Segall Bryant & Hamill LLC’s holdings in Ares Management were worth $35,845,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in ARES. Curated Wealth Partners LLC grew its holdings in shares of Ares Management by 199.7% during the second quarter. Curated Wealth Partners LLC now owns 1,658,217 shares of the asset manager’s stock worth $221,007,000 after purchasing an additional 3,321,434 shares during the last quarter. LRI Investments LLC bought a new stake in Ares Management in the first quarter valued at approximately $264,729,000. Massachusetts Financial Services Co. MA boosted its holdings in Ares Management by 58.5% in 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 acquiring an additional 1,867,933 shares during the last quarter. Lone Pine Capital LLC bought a new stake in Ares Management in the second quarter valued at approximately $209,884,000. Finally, Millennium Management LLC boosted its holdings in Ares Management by 722.6% in the second quarter. Millennium Management LLC now owns 1,738,148 shares of the asset manager’s stock valued at $231,660,000 after acquiring an additional 1,526,856 shares during the last quarter. 50.03% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently commented on the company. Royal Bank of Canada upped their target price on Ares Management from $170.00 to $185.00 and gave the company an “outperform” rating in a report on Monday, November 4th. Wells Fargo & Company upped their target price on Ares Management from $172.00 to $176.00 and gave the company an “equal weight” rating in a report on Monday, November 4th. Redburn Atlantic assumed coverage on Ares Management in a report on Tuesday, August 27th. They issued a “neutral” rating and a $140.00 target price on the stock. Deutsche Bank Aktiengesellschaft upped their target price on Ares Management from $146.00 to $150.00 and gave the company a “hold” rating in a report on Monday, November 11th. Finally, JPMorgan Chase & Co. reduced their target price on Ares Management from $176.00 to $174.00 and set an “overweight” rating on the stock in a report on Tuesday, November 5th. Six analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $166.36.

Ares Management Price Performance

Shares of NYSE:ARES opened at $170.35 on Wednesday. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.53. Ares Management Co. has a twelve month low of $105.89 and a twelve month high of $175.74. The stock’s 50 day moving average is $161.29 and its 200-day moving average is $148.24. The firm has a market capitalization of $53.33 billion, a price-to-earnings ratio of 78.50, a PEG ratio of 1.82 and a beta of 1.20.

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 analysts’ consensus estimates of $0.94 by $0.01. The company had revenue of $1.13 billion for the quarter, compared to analyst estimates of $833.58 million. Ares Management had a return on equity of 19.89% and a net margin of 12.51%. During the same period in the prior year, the firm earned $0.83 earnings per share. Sell-side analysts forecast that Ares Management Co. will post 4.07 EPS for the current fiscal year.

Ares Management Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th will be given a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a yield of 2.18%. The ex-dividend date of this dividend is Tuesday, December 17th. Ares Management’s payout ratio is currently 171.43%.

Insider Activity at Ares Management

In other Ares Management news, insider Ryan Berry sold 57,500 shares of the company’s stock in a transaction 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 transaction, the insider now owns 456,702 shares in the company, valued at $64,276,239.48. This represents a 11.18 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider David B. Kaplan sold 19,775 shares of the company’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $167.45, for a total value of $3,311,323.75. Following the completion of the transaction, the insider now owns 230,225 shares of the company’s stock, valued at $38,551,176.25. This trade represents a 7.91 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 590,579 shares of company stock valued at $89,737,173. 41.89% of the stock is owned by insiders.

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.