Coastline Trust Co Has $4.64 Million Position in Ares Management Co. (NYSE:ARES)

Coastline Trust Co lifted its holdings in Ares Management Co. (NYSE:ARES) by 10.6% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 29,755 shares of the asset manager’s stock after acquiring an additional 2,841 shares during the quarter. Coastline Trust Co’s holdings in Ares Management were worth $4,637,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Curated Wealth Partners LLC grew its position in 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 valued at $221,007,000 after purchasing an additional 3,321,434 shares in the last quarter. LRI Investments LLC purchased a new position in shares of Ares Management during the 1st quarter valued at $264,729,000. Massachusetts Financial Services Co. MA increased its stake in shares of 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 worth $674,183,000 after acquiring an additional 1,867,933 shares during the last quarter. Lone Pine Capital LLC purchased a new stake in shares of Ares Management during the second quarter worth $209,884,000. Finally, Millennium Management LLC boosted its position in Ares Management by 722.6% during the second quarter. Millennium Management LLC now owns 1,738,148 shares of the asset manager’s stock valued at $231,660,000 after purchasing an additional 1,526,856 shares during the last quarter. Hedge funds and other institutional investors own 50.03% of the company’s stock.

Analyst Upgrades and Downgrades

ARES has been the topic of several research reports. Barclays upped their target price on Ares Management from $155.00 to $174.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Redburn Atlantic began coverage on shares of Ares Management in a research report on Tuesday, August 27th. They set a “neutral” rating and a $140.00 price objective on the stock. TD Cowen boosted their target price on shares of Ares Management from $184.00 to $187.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. JPMorgan Chase & Co. cut their price target on shares of Ares Management from $176.00 to $174.00 and set an “overweight” rating on the stock in a report on Tuesday, November 5th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on shares of Ares Management from $146.00 to $150.00 and gave the stock a “hold” rating in a research report on Monday, November 11th. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $166.36.

Insider Activity

In other news, CEO Michael J. Arougheti sold 10,223 shares of the stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $144.47, for a total transaction of $1,476,916.81. Following the sale, the chief executive officer now directly owns 191,546 shares of the company’s stock, valued at $27,672,650.62. This represents a 5.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Ryan Berry sold 18,329 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $175.18, for a total transaction of $3,210,874.22. Following the completion of the sale, the insider now directly owns 254,885 shares of the company’s stock, valued at approximately $44,650,754.30. This represents a 6.71 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 561,280 shares of company stock worth $83,030,436. Insiders own 1.20% of the company’s stock.

Ares Management Stock Performance

Shares of NYSE:ARES opened at $167.09 on Friday. 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 fifty day moving average price is $160.74 and its two-hundred day moving average price is $147.79. Ares Management Co. has a fifty-two week low of $101.44 and a fifty-two week high of $175.74. The stock has a market capitalization of $52.30 billion, a price-to-earnings ratio of 77.00, a price-to-earnings-growth ratio of 1.82 and a beta of 1.20.

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

Ares Management Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th will be issued a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a dividend yield of 2.23%. The ex-dividend date is Tuesday, December 17th. Ares Management’s payout ratio is 171.43%.

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.