Incline Global Management LLC reduced its position in Ares Management Co. (NYSE:ARES – Free Report) by 32.9% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 50,161 shares of the asset manager’s stock after selling 24,567 shares during the period. Ares Management makes up 3.5% of Incline Global Management LLC’s investment portfolio, making the stock its 21st largest holding. Incline Global Management LLC’s holdings in Ares Management were worth $7,817,000 at the end of the most recent quarter.
A number of other large investors also recently modified their holdings of the company. MetLife Investment Management LLC lifted its holdings in shares of Ares Management by 0.7% in the 3rd quarter. MetLife Investment Management LLC now owns 11,538 shares of the asset manager’s stock worth $1,798,000 after purchasing an additional 76 shares in the last quarter. Chicago Partners Investment Group LLC lifted its holdings in shares of Ares Management by 1.4% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 6,392 shares of the asset manager’s stock worth $1,070,000 after purchasing an additional 89 shares in the last quarter. Sequoia Financial Advisors LLC lifted its holdings in shares of Ares Management by 3.9% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 2,560 shares of the asset manager’s stock worth $399,000 after purchasing an additional 95 shares in the last quarter. Whittier Trust Co. of Nevada Inc. lifted its holdings in shares of Ares Management by 21.0% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 559 shares of the asset manager’s stock worth $87,000 after purchasing an additional 97 shares in the last quarter. Finally, West Oak Capital LLC lifted its holdings in shares of Ares Management by 40.0% in the 2nd 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. 50.03% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
A number of equities analysts recently issued reports on ARES shares. Morgan Stanley increased their target price on Ares Management from $136.00 to $162.00 and gave the stock an “equal weight” rating in a report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft raised their price objective on Ares Management from $146.00 to $150.00 and gave the company a “hold” rating in a research note on Monday, November 11th. The Goldman Sachs Group raised their price objective on Ares Management from $145.00 to $160.00 and gave the company a “buy” rating in a research note on Monday, September 30th. JPMorgan Chase & Co. dropped their price objective on Ares Management from $176.00 to $174.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 5th. Finally, TD Cowen raised their price objective on Ares Management from $184.00 to $187.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $166.36.
Ares Management Stock Performance
ARES traded up $1.17 during trading hours on Tuesday, hitting $175.12. The stock had a trading volume of 27,454 shares, compared to its average volume of 1,153,744. The company’s fifty day simple moving average is $166.32 and its 200 day simple moving average is $150.62. Ares Management Co. has a 1 year low of $107.69 and a 1 year high of $180.38. The stock has a market cap of $54.82 billion, a PE ratio of 80.16, a price-to-earnings-growth ratio of 1.92 and a beta of 1.19. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.53.
Ares Management (NYSE:ARES – Get Free Report) last announced its quarterly earnings data 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 return on equity of 19.89% and a net margin of 12.51%. The company had revenue of $1.13 billion during the quarter, compared to analyst estimates of $833.58 million. During the same quarter last year, the firm posted $0.83 EPS. Equities analysts anticipate that Ares Management Co. will post 4.06 earnings per share for the current year.
Ares Management Announces Dividend
The business 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 dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a yield of 2.12%. The ex-dividend date of this dividend is Tuesday, December 17th. Ares Management’s payout ratio is presently 171.43%.
Insider Buying and Selling at Ares Management
In other Ares Management news, CEO Michael J. Arougheti sold 30,465 shares of Ares Management stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $176.16, for a total transaction of $5,366,714.40. Following the completion of the transaction, the chief executive officer now owns 1,375,000 shares of the company’s stock, valued at $242,220,000. The trade was a 2.17 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Ryan Berry sold 10,000 shares of Ares Management stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $142.12, for a total value of $1,421,200.00. Following the sale, the insider now owns 446,702 shares of the company’s stock, valued at approximately $63,485,288.24. This trade represents a 2.19 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 666,030 shares of company stock valued at $109,779,010 in the last quarter. 41.89% of the stock is currently owned by corporate insiders.
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.
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