Wrapmanager Inc. Takes Position in Ares Management Co. (NYSE:ARES)

Wrapmanager Inc. purchased a new position in Ares Management Co. (NYSE:ARES) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 1,752 shares of the asset manager’s stock, valued at approximately $273,000.

A number of other large investors also recently bought and sold shares of ARES. Eastern Bank bought a new position in shares of Ares Management during the third quarter valued at approximately $39,000. West Oak Capital LLC increased its position in Ares Management by 40.0% during the 2nd quarter. West Oak Capital LLC now owns 350 shares of the asset manager’s stock valued at $47,000 after buying an additional 100 shares in the last quarter. Key Financial Inc purchased a new position in Ares Management during the second quarter valued at $53,000. EntryPoint Capital LLC bought a new stake in Ares Management in the first quarter worth $54,000. Finally, Industrial Alliance Investment Management Inc. grew its stake 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 worth $60,000 after acquiring an additional 201 shares during the last quarter. 50.03% of the stock is owned by hedge funds and other institutional investors.

Ares Management Stock Performance

Shares of NYSE ARES opened at $170.35 on Wednesday. The company has a market cap of $53.33 billion, a P/E ratio of 78.50, a P/E/G ratio of 1.82 and a beta of 1.20. Ares Management Co. has a 52-week low of $105.89 and a 52-week high of $175.74. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.05 and a current ratio of 1.05. The firm’s fifty day moving average is $161.29 and its two-hundred day moving average is $148.24.

Ares Management (NYSE:ARES) last released its quarterly earnings data on Friday, November 1st. The asset manager reported $0.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.94 by $0.01. The business had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $833.58 million. Ares Management had a return on equity of 19.89% and a net margin of 12.51%. During the same quarter in the previous year, the company posted $0.83 EPS. As a group, analysts anticipate that Ares Management Co. will post 4.07 EPS for the current fiscal year.

Ares Management Announces Dividend

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

Insider Activity

In other news, insider Ryan Berry sold 1,671 shares of Ares Management stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $175.00, for a total transaction of $292,425.00. Following the completion of the sale, the insider now owns 253,214 shares of the company’s stock, valued at approximately $44,312,450. The trade was a 0.66 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider David B. Kaplan sold 36,059 shares of the company’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $146.35, for a total value of $5,277,234.65. Following the completion of the sale, the insider now owns 100,549 shares of the company’s stock, valued at $14,715,346.15. This represents a 26.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 590,579 shares of company stock valued at $89,737,173. 41.89% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. JPMorgan Chase & Co. lowered their price target on Ares Management from $176.00 to $174.00 and set an “overweight” rating for the company in a research report on Tuesday, November 5th. The Goldman Sachs Group lifted their target price on shares of Ares Management from $145.00 to $160.00 and gave the stock a “buy” rating in a report on Monday, September 30th. 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. Morgan Stanley boosted their price objective on shares of Ares Management from $136.00 to $162.00 and gave the stock an “equal weight” rating in a report on Thursday, October 10th. Finally, Redburn Atlantic started coverage on Ares Management in a research note on Tuesday, August 27th. They set a “neutral” rating and a $140.00 target price on the stock. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $166.36.

Ares Management 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.