ASB Consultores LLC Makes New $203,000 Investment in Ares Management Co. (NYSE:ARES)

ASB Consultores LLC purchased a new stake in shares of Ares Management Co. (NYSE:ARES) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 1,300 shares of the asset manager’s stock, valued at approximately $203,000.

A number of other hedge funds have also modified their holdings of the stock. J.Safra Asset Management Corp lifted its stake in Ares Management by 717.6% in the first quarter. J.Safra Asset Management Corp now owns 278 shares of the asset manager’s stock valued at $37,000 after acquiring an additional 244 shares during the last quarter. Eastern Bank acquired a new stake in shares of Ares Management in the 3rd quarter valued at $39,000. West Oak Capital LLC boosted its holdings in Ares Management by 40.0% in the second quarter. West Oak Capital LLC now owns 350 shares of the asset manager’s stock worth $47,000 after purchasing an additional 100 shares in the last quarter. Key Financial Inc acquired a new position in Ares Management during the second quarter worth $53,000. Finally, EntryPoint Capital LLC bought a new position in Ares Management during the first quarter valued at about $54,000. 50.03% of the stock is owned by institutional investors and hedge funds.

Ares Management Price Performance

Shares of NYSE:ARES opened at $164.53 on Wednesday. The firm has a market capitalization of $51.50 billion, a PE ratio of 75.82, a PEG ratio of 1.56 and a beta of 1.20. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.52. Ares Management Co. has a 1-year low of $101.44 and a 1-year high of $171.78. The business’s 50 day moving average is $156.49 and its 200-day moving average is $146.00.

Ares Management (NYSE:ARES) last announced its quarterly earnings results on Friday, November 1st. The asset manager reported $0.95 earnings per share (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 analyst estimates of $833.58 million. Ares Management had a net margin of 12.51% and a return on equity of 20.51%. During the same quarter in the previous year, the firm posted $0.83 EPS. Sell-side analysts predict that Ares Management Co. will post 4.11 earnings per share for the current year.

Ares Management Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th will be paid a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a yield of 2.26%. The ex-dividend date of this dividend is Tuesday, December 17th. Ares Management’s dividend payout ratio is 171.43%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Morgan Stanley increased their price objective on Ares Management from $136.00 to $162.00 and gave the company an “equal weight” rating in a report on Thursday, October 10th. Wells Fargo & Company increased their price target on Ares Management from $172.00 to $176.00 and gave the company an “equal weight” rating in a report on Monday. Barclays boosted their price objective on shares of Ares Management from $155.00 to $174.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. Royal Bank of Canada raised their target price on shares of Ares Management from $170.00 to $185.00 and gave the company an “outperform” rating in a research note on Monday. Finally, JPMorgan Chase & Co. cut their target price on shares of Ares Management from $176.00 to $174.00 and set an “overweight” rating for the company in a research report on Tuesday. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, Ares Management presently has an average rating of “Moderate Buy” and a consensus price target of $166.00.

Insider Buying and Selling at Ares Management

In other news, Chairman Bennett Rosenthal sold 75,000 shares of the stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $143.05, for a total value of $10,728,750.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider David B. Kaplan sold 27,068 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $145.67, for a total transaction of $3,942,995.56. Following the completion of the sale, the insider now owns 222,932 shares of the company’s stock, valued at approximately $32,474,504.44. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Chairman Bennett Rosenthal sold 75,000 shares of Ares Management stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $143.05, for a total transaction of $10,728,750.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 622,640 shares of company stock valued at $91,378,848. 41.89% of the stock is currently owned by corporate 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.