Rockefeller Capital Management L.P. Acquires 6,476 Shares of Ares Management Co. (NYSE:ARES)

Rockefeller Capital Management L.P. lifted its holdings in shares of Ares Management Co. (NYSE:ARES) by 5.5% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 124,139 shares of the asset manager’s stock after acquiring an additional 6,476 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in Ares Management were worth $19,346,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ARES. B. Riley Wealth Advisors Inc. raised its holdings in shares of Ares Management by 86.4% during the first quarter. B. Riley Wealth Advisors Inc. now owns 3,536 shares of the asset manager’s stock valued at $470,000 after acquiring an additional 1,639 shares in the last quarter. Cetera Investment Advisers grew its stake in Ares Management by 45.9% in the first quarter. Cetera Investment Advisers now owns 82,717 shares of the asset manager’s stock worth $11,000,000 after purchasing an additional 26,012 shares during the period. DekaBank Deutsche Girozentrale grew its stake in Ares Management by 5.7% in the first quarter. DekaBank Deutsche Girozentrale now owns 44,145 shares of the asset manager’s stock worth $5,850,000 after purchasing an additional 2,399 shares during the period. QRG Capital Management Inc. grew its stake in Ares Management by 40.9% in the second quarter. QRG Capital Management Inc. now owns 2,298 shares of the asset manager’s stock worth $306,000 after purchasing an additional 667 shares during the period. Finally, Curated Wealth Partners LLC grew its stake in Ares Management by 199.7% in 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 period. Institutional investors own 50.03% of the company’s stock.

Ares Management Trading Up 1.1 %

Ares Management stock opened at $176.73 on Monday. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.05 and a quick ratio of 1.05. Ares Management Co. has a one year low of $107.69 and a one year high of $180.38. The stock has a market capitalization of $55.33 billion, a PE ratio of 81.44, a price-to-earnings-growth ratio of 1.92 and a beta of 1.20. The business’s fifty day moving average is $165.96 and its 200 day moving average is $150.43.

Ares Management (NYSE:ARES) last released its quarterly earnings data on Friday, November 1st. The asset manager reported $0.95 EPS for the quarter, beating the consensus estimate of $0.94 by $0.01. Ares Management had a return on equity of 19.89% and a net margin of 12.51%. The company had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $833.58 million. During the same period last year, the firm posted $0.83 earnings per share. On average, sell-side analysts predict that Ares Management Co. will post 4.06 EPS for the current year.

Ares Management Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th will be issued a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a yield of 2.10%. The ex-dividend date is Tuesday, December 17th. Ares Management’s dividend payout ratio is 171.43%.

Insider Buying and Selling at Ares Management

In other Ares Management news, insider David B. Kaplan sold 28,887 shares of the stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $175.82, for a total value of $5,078,912.34. Following the transaction, the insider now owns 87,461 shares of the company’s stock, valued at approximately $15,377,393.02. This represents a 24.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing 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 shares were 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 directly owns 456,702 shares in the company, valued at approximately $64,276,239.48. This represents a 11.18 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 602,357 shares of company stock valued at $97,672,269. 1.20% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Morgan Stanley upped their price target on Ares Management from $136.00 to $162.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 10th. Wells Fargo & Company upped their price target on Ares Management from $172.00 to $176.00 and gave the stock an “equal weight” rating in a research note on Monday, November 4th. The Goldman Sachs Group increased their target price on Ares Management from $145.00 to $160.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Barclays increased their target price on Ares Management from $155.00 to $174.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. Finally, UBS Group increased their target price on Ares Management from $158.00 to $195.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $166.36.

About Ares Management

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.