Rathbones Group PLC Has $979,000 Stake in Ares Management Co. (NYSE:ARES)

Rathbones Group PLC boosted its position in Ares Management Co. (NYSE:ARES) by 4.2% in the second quarter, Holdings Channel.com reports. The firm owned 7,347 shares of the asset manager’s stock after purchasing an additional 297 shares during the quarter. Rathbones Group PLC’s holdings in Ares Management were worth $979,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Curated Wealth Partners LLC grew its holdings in Ares Management by 199.7% during the 2nd quarter. Curated Wealth Partners LLC now owns 1,658,217 shares of the asset manager’s stock worth $221,007,000 after acquiring an additional 3,321,434 shares during the last quarter. LRI Investments LLC bought a new stake in shares of Ares Management in the 1st quarter worth $264,729,000. Norges Bank bought a new position in shares of Ares Management in the fourth quarter valued at approximately $205,499,000. M&G Plc raised its stake in shares of Ares Management by 711.1% during the 2nd quarter. M&G Plc now owns 1,015,009 shares of the asset manager’s stock worth $134,996,000 after purchasing an additional 889,872 shares during the period. Finally, Corient Private Wealth LLC increased its stake in shares of Ares Management by 216.3% during the 4th quarter. Corient Private Wealth LLC now owns 1,253,644 shares of the asset manager’s stock worth $149,083,000 after purchasing an additional 857,245 shares during the last quarter. 50.03% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently issued reports on ARES. Redburn Atlantic assumed coverage on Ares Management in a research note on Tuesday, August 27th. They set a “neutral” rating and a $140.00 price objective on the stock. JPMorgan Chase & Co. upped their price objective on shares of Ares Management from $141.00 to $143.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. UBS Group decreased their target price on shares of Ares Management from $160.00 to $158.00 and set a “buy” rating on the stock in a research note on Wednesday, July 10th. Royal Bank of Canada reissued an “outperform” rating and set a $150.00 price objective on shares of Ares Management in a research report on Wednesday, May 22nd. Finally, TD Cowen upped their price target on Ares Management from $158.00 to $162.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Ares Management currently has a consensus rating of “Hold” and an average price target of $141.42.

Ares Management Price Performance

NYSE:ARES opened at $149.33 on Tuesday. Ares Management Co. has a 12 month low of $96.00 and a 12 month high of $155.53. The firm has a market cap of $46.26 billion, a P/E ratio of 66.96, a price-to-earnings-growth ratio of 1.33 and a beta of 1.21. The stock has a 50 day moving average of $143.79 and a two-hundred day moving average of $138.77. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.52.

Ares Management (NYSE:ARES) last posted its earnings results on Friday, August 2nd. The asset manager reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.01. Ares Management had a net margin of 12.53% and a return on equity of 20.46%. The company had revenue of $788.68 million for the quarter, compared to analyst estimates of $860.09 million. During the same period in the previous year, the business posted $0.90 EPS. On average, analysts expect that Ares Management Co. will post 4.15 earnings per share for the current fiscal year.

Ares Management Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be issued a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a dividend yield of 2.49%. The ex-dividend date of this dividend is Monday, September 16th. Ares Management’s dividend payout ratio (DPR) is currently 166.82%.

Insiders Place Their Bets

In other news, insider Ryan Berry sold 12,500 shares of the firm’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $148.42, for a total value of $1,855,250.00. Following the sale, the insider now directly owns 414,202 shares in the company, valued at approximately $61,475,860.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider David B. Kaplan sold 125,000 shares of Ares Management stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $131.94, for a total transaction of $16,492,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Ryan Berry sold 12,500 shares of the company’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $148.42, for a total value of $1,855,250.00. Following the completion of the transaction, the insider now owns 414,202 shares of the company’s stock, valued at $61,475,860.84. The disclosure for this sale can be found here. Insiders sold a total of 866,816 shares of company stock worth $122,071,500 over the last 90 days. Corporate insiders own 1.20% of the company’s stock.

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.