Wrenne Financial Planning LLC Takes $226,000 Position in Ares Management Co. (NYSE:ARES)

Wrenne Financial Planning LLC purchased a new position 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 (SEC). The fund purchased 1,449 shares of the asset manager’s stock, valued at approximately $226,000.

Other institutional investors have also added to or reduced their stakes in the company. Eastern Bank bought a new stake in Ares Management in the third quarter worth about $39,000. West Oak Capital LLC increased its holdings in Ares Management by 40.0% during the 2nd quarter. West Oak Capital LLC now owns 350 shares of the asset manager’s stock worth $47,000 after acquiring an additional 100 shares during the period. Key Financial Inc bought a new stake in Ares Management during the 2nd quarter worth approximately $53,000. EntryPoint Capital LLC bought a new stake in Ares Management during the 1st quarter worth approximately $54,000. Finally, Industrial Alliance Investment Management Inc. increased its holdings in Ares Management by 80.4% during the 2nd quarter. Industrial Alliance Investment Management Inc. now owns 451 shares of the asset manager’s stock worth $60,000 after acquiring an additional 201 shares during the period. 50.03% of the stock is owned by institutional investors.

Ares Management Price Performance

Shares of Ares Management stock opened at $175.19 on Friday. Ares Management Co. has a 52-week low of $107.69 and a 52-week high of $176.31. The stock has a market capitalization of $54.84 billion, a price-to-earnings ratio of 80.73, a price-to-earnings-growth ratio of 1.85 and a beta of 1.20. The company has a fifty day moving average of $163.13 and a 200-day moving average of $148.86. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.05 and a current ratio of 1.05.

Ares Management (NYSE:ARES) last announced its quarterly earnings data on Friday, November 1st. The asset manager reported $0.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $833.58 million. During the same quarter in the prior year, the company earned $0.83 EPS. Equities research analysts expect that Ares Management Co. will post 4.06 EPS for the current year.

Ares Management Dividend Announcement

The company 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 dividend of $0.93 per share. The ex-dividend date is Tuesday, December 17th. This represents a $3.72 dividend on an annualized basis and a yield of 2.12%. Ares Management’s dividend payout ratio is currently 171.43%.

Wall Street Analyst Weigh In

ARES has been the topic of a number of analyst reports. Redburn Atlantic initiated coverage on shares of Ares Management in a report on Tuesday, August 27th. They set a “neutral” rating and a $140.00 target price on the stock. Wells Fargo & Company upped their target price on shares of Ares Management from $172.00 to $176.00 and gave the stock an “equal weight” rating in a report on Monday, November 4th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Ares Management from $146.00 to $150.00 and gave the stock a “hold” rating in a research note on Monday, November 11th. TD Cowen boosted their price target on shares of Ares Management from $184.00 to $187.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Finally, UBS Group boosted their price target on shares of Ares Management from $158.00 to $195.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $166.36.

Insider Activity at Ares Management

In other Ares Management news, 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 directly owns 230,225 shares in the company, valued at approximately $38,551,176.25. This represents a 7.91 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Ryan Berry sold 57,500 shares of the stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $140.74, for a total transaction of $8,092,550.00. Following the completion of the transaction, the insider now owns 456,702 shares of the company’s stock, valued at approximately $64,276,239.48. The trade was a 11.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 518,051 shares of company stock worth $79,122,336 in the last three months. 1.20% 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.