Amalgamated Bank Purchases 155 Shares of Ares Management Co. (NYSE:ARES)

Amalgamated Bank raised its position in shares of Ares Management Co. (NYSE:ARES) by 1.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,205 shares of the asset manager’s stock after acquiring an additional 155 shares during the quarter. Amalgamated Bank’s holdings in Ares Management were worth $1,902,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of ARES. ASB Consultores LLC acquired a new stake in shares of Ares Management during the 3rd quarter worth approximately $203,000. Gulf International Bank UK Ltd grew its holdings in Ares Management by 8.0% in the third quarter. Gulf International Bank UK Ltd now owns 14,494 shares of the asset manager’s stock worth $2,258,000 after purchasing an additional 1,074 shares during the period. Catalyst Capital Advisors LLC grew its holdings in Ares Management by 5.6% in the third quarter. Catalyst Capital Advisors LLC now owns 2,623 shares of the asset manager’s stock worth $409,000 after purchasing an additional 138 shares during the period. Asset Management One Co. Ltd. increased its stake in Ares Management by 4.1% in the third quarter. Asset Management One Co. Ltd. now owns 68,791 shares of the asset manager’s stock valued at $10,720,000 after purchasing an additional 2,725 shares in the last quarter. Finally, Forum Financial Management LP acquired a new position in shares of Ares Management during the third quarter valued at about $224,000. 50.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Ares Management news, Chairman Bennett Rosenthal sold 27,172 shares of Ares Management stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $145.67, for a total value of $3,958,145.24. Following the sale, the chairman now owns 222,828 shares of the company’s stock, valued at approximately $32,459,354.76. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, insider Ryan Berry sold 57,500 shares of the business’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $140.74, for a total value of $8,092,550.00. Following the sale, the insider now directly owns 456,702 shares in the company, valued at approximately $64,276,239.48. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Chairman Bennett Rosenthal sold 27,172 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $145.67, for a total transaction of $3,958,145.24. Following the sale, the chairman now directly owns 222,828 shares in the company, valued at approximately $32,459,354.76. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 642,640 shares of company stock valued at $94,882,147. 41.89% of the stock is owned by insiders.

Ares Management Trading Down 0.5 %

Shares of ARES stock opened at $170.46 on Wednesday. Ares Management Co. has a 52-week low of $101.44 and a 52-week high of $175.74. The company has a 50-day simple moving average of $158.49 and a two-hundred day simple moving average of $147.02. 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 company has a market capitalization of $53.35 billion, a price-to-earnings ratio of 78.54, a PEG ratio of 1.87 and a beta of 1.20.

Ares Management (NYSE:ARES) last released its earnings results on Friday, November 1st. The asset manager reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.94 by $0.01. The company had revenue of $1.13 billion during the quarter, compared to analyst estimates of $833.58 million. Ares Management had a return on equity of 20.51% and a net margin of 12.51%. During the same period in the prior year, the company posted $0.83 earnings per share. Research analysts anticipate that Ares Management Co. will post 4.07 EPS for the current fiscal year.

Ares Management Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th will be paid a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a dividend yield of 2.18%. The ex-dividend date of this dividend is Tuesday, December 17th. Ares Management’s payout ratio is 171.43%.

Wall Street Analysts Forecast Growth

ARES has been the subject of several research reports. Wells Fargo & Company raised their target price on Ares Management from $172.00 to $176.00 and gave the company an “equal weight” rating in a research note on Monday, November 4th. JPMorgan Chase & Co. reduced their price objective on Ares Management from $176.00 to $174.00 and set an “overweight” rating for the company in a research note on Tuesday, November 5th. The Goldman Sachs Group upped their target price on Ares Management from $145.00 to $160.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Redburn Atlantic began coverage on shares of Ares Management in a research report on Tuesday, August 27th. They issued a “neutral” rating and a $140.00 price target for the company. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on shares of Ares Management from $146.00 to $150.00 and gave the stock a “hold” rating in a report on Monday. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company 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.