3,858 Shares in Ares Management Co. (NYSE:ARES) Purchased by Dakota Wealth Management

Dakota Wealth Management purchased a new position in shares of Ares Management Co. (NYSE:ARES) during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 3,858 shares of the asset manager’s stock, valued at approximately $601,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in ARES. IFM Investors Pty Ltd raised its holdings in Ares Management by 1.0% during the 3rd quarter. IFM Investors Pty Ltd now owns 34,713 shares of the asset manager’s stock worth $5,410,000 after purchasing an additional 355 shares during the last quarter. Jackson Wealth Management LLC raised its holdings in Ares Management by 77.6% during the 3rd quarter. Jackson Wealth Management LLC now owns 43,530 shares of the asset manager’s stock worth $6,784,000 after purchasing an additional 19,015 shares during the last quarter. International Assets Investment Management LLC bought a new stake in Ares Management during the 3rd quarter worth about $119,000,000. Private Advisor Group LLC raised its holdings in Ares Management by 2.6% during the 3rd quarter. Private Advisor Group LLC now owns 4,279 shares of the asset manager’s stock worth $667,000 after purchasing an additional 108 shares during the last quarter. Finally, Eastern Bank bought a new stake in Ares Management during the 3rd quarter worth about $39,000. Institutional investors and hedge funds own 50.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on ARES. TD Cowen boosted their price objective on Ares Management from $162.00 to $175.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. UBS Group boosted their price objective on Ares Management from $158.00 to $195.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. JPMorgan Chase & Co. upped their price target on Ares Management from $141.00 to $143.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. The Goldman Sachs Group upped their price target on Ares Management from $145.00 to $160.00 and gave the company a “buy” rating in a research note on Monday, September 30th. Finally, Morgan Stanley upped their price target on Ares Management from $136.00 to $162.00 and gave the company an “equal weight” rating in a research note on Thursday, October 10th. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $159.18.

Ares Management Price Performance

Shares of ARES opened at $169.47 on Monday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.05 and a current ratio of 1.05. The stock has a 50 day simple moving average of $153.55 and a 200 day simple moving average of $144.19. Ares Management Co. has a 52-week low of $96.00 and a 52-week high of $171.78. The firm has a market capitalization of $52.50 billion, a PE ratio of 76.00, a P/E/G ratio of 1.48 and a beta of 1.22.

Ares Management (NYSE:ARES) last issued its quarterly earnings data 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. Ares Management had a return on equity of 20.46% and a net margin of 12.53%. The business had revenue of $788.68 million during the quarter, compared to analyst estimates of $860.09 million. During the same period in the previous year, the firm earned $0.90 EPS. Sell-side analysts predict that Ares Management Co. will post 4.16 EPS for the current fiscal year.

Ares Management Announces Dividend

The firm 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. The ex-dividend date of this dividend was Monday, September 16th. This represents a $3.72 annualized dividend and a dividend yield of 2.20%. Ares Management’s dividend payout ratio is presently 166.82%.

Insiders Place Their Bets

In other Ares Management news, insider Ryan Berry sold 40,000 shares of the company’s stock in a transaction that occurred on Thursday, October 17th. The stock was sold at an average price of $167.99, for a total transaction of $6,719,600.00. Following the completion of the transaction, the insider now owns 304,202 shares of the company’s stock, valued at $51,102,893.98. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Ares Management news, insider David B. Kaplan sold 27,068 shares of the company’s stock in a transaction that occurred on 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 of the company’s stock, valued at $32,474,504.44. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Ryan Berry sold 40,000 shares of the company’s stock in a transaction that occurred on Thursday, October 17th. The stock was sold at an average price of $167.99, for a total value of $6,719,600.00. Following the transaction, the insider now directly owns 304,202 shares of the company’s stock, valued at approximately $51,102,893.98. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 622,640 shares of company stock valued at $91,378,848 in the last quarter. 1.20% of the stock is currently owned by insiders.

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.