Bleakley Financial Group LLC Acquires 149 Shares of Ares Management Co. (NYSE:ARES)

Bleakley Financial Group LLC grew its holdings in shares of Ares Management Co. (NYSE:ARES) by 8.2% in the third quarter, HoldingsChannel reports. The fund owned 1,963 shares of the asset manager’s stock after purchasing an additional 149 shares during the quarter. Bleakley Financial Group LLC’s holdings in Ares Management were worth $306,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Riverview Trust Co bought a new position in Ares Management in the 1st quarter worth $29,000. Fifth Third Wealth Advisors LLC bought a new position in Ares Management in the 1st quarter worth $221,000. Park Place Capital Corp boosted its holdings in Ares Management by 24.4% in the 1st quarter. Park Place Capital Corp now owns 4,864 shares of the asset manager’s stock worth $647,000 after buying an additional 954 shares during the period. Oak Thistle LLC bought a new position in Ares Management in the 1st quarter worth $398,000. Finally, West Oak Capital LLC boosted its holdings in Ares Management by 66.7% in the 1st quarter. West Oak Capital LLC now owns 250 shares of the asset manager’s stock worth $33,000 after buying an additional 100 shares during the period. Institutional investors own 50.03% of the company’s stock.

Ares Management Stock Down 0.3 %

Shares of NYSE ARES opened at $167.31 on Thursday. The firm’s 50-day moving average price is $152.56 and its 200-day moving average price is $143.69. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $51.84 billion, a price-to-earnings ratio of 75.03, a P/E/G ratio of 1.48 and a beta of 1.22. Ares Management Co. has a 12-month low of $96.00 and a 12-month high of $171.76.

Ares Management (NYSE:ARES) last announced its earnings results on Friday, August 2nd. The asset manager reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.01. The firm had revenue of $788.68 million for the quarter, compared to analysts’ expectations of $860.09 million. Ares Management had a net margin of 12.53% and a return on equity of 20.46%. During the same period in the prior year, the company earned $0.90 EPS. On average, equities research analysts anticipate that Ares Management Co. will post 4.16 EPS for the current fiscal year.

Ares Management Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were given a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date of this dividend was Monday, September 16th. Ares Management’s dividend payout ratio (DPR) is currently 166.82%.

Analyst Upgrades and Downgrades

ARES has been the subject of several recent analyst reports. Wells Fargo & Company upped their target price on shares of Ares Management from $156.00 to $172.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 9th. The Goldman Sachs Group upped 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 boosted their price target on shares of Ares Management from $162.00 to $175.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Morgan Stanley boosted their price target on shares of Ares Management from $136.00 to $162.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 10th. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on shares of Ares Management from $134.00 to $133.00 and set a “hold” rating on the stock in a research note on Thursday, August 15th. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $159.18.

Insider Buying and Selling

In related news, Chairman Bennett Rosenthal sold 75,000 shares of the stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $143.05, for a total value of $10,728,750.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Ares Management news, Chairman Bennett Rosenthal sold 75,000 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $143.05, for a total value of $10,728,750.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider David B. Kaplan sold 27,068 shares of the company’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $145.67, for a total transaction of $3,942,995.56. Following the completion of the transaction, the insider now owns 222,932 shares in the company, valued at $32,474,504.44. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 622,640 shares of company stock valued at $91,378,848 in the last ninety days. 1.20% of the stock is owned by company 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.