Ares Management Co. (NYSE:ARES) Shares Sold by Boston Partners

Boston Partners trimmed its stake in shares of Ares Management Co. (NYSE:ARES) by 32.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,959,840 shares of the asset manager’s stock after selling 945,889 shares during the quarter. Boston Partners’ holdings in Ares Management were worth $260,623,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in ARES. LRI Investments LLC bought a new position in Ares Management in the 1st quarter worth approximately $264,729,000. Norges Bank bought a new stake in shares of Ares Management during the 4th quarter worth $205,499,000. Corient Private Wealth LLC boosted 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 acquiring an additional 857,245 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Ares Management by 4.0% during the 4th quarter. Vanguard Group Inc. now owns 16,392,349 shares of the asset manager’s stock worth $1,949,378,000 after acquiring an additional 631,334 shares in the last quarter. Finally, Keystone Investors PTE Ltd. boosted its stake in shares of Ares Management by 85.2% during the 4th quarter. Keystone Investors PTE Ltd. now owns 934,360 shares of the asset manager’s stock worth $111,114,000 after acquiring an additional 429,953 shares in the last quarter. 50.03% of the stock is owned by institutional investors.

Insider Buying and Selling at Ares Management

In other Ares Management news, insider R. Kipp Deveer sold 41,676 shares of the firm’s stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $150.21, for a total transaction of $6,260,151.96. Following the transaction, the insider now directly owns 1,075,000 shares in the company, valued at $161,475,750. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, CEO Michael J. Arougheti sold 157,837 shares of the firm’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $148.22, for a total value of $23,394,600.14. Following the sale, the chief executive officer now directly owns 92,163 shares of the company’s stock, valued at $13,660,399.86. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider R. Kipp Deveer sold 41,676 shares of the firm’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $150.21, for a total value of $6,260,151.96. Following the completion of the sale, the insider now directly owns 1,075,000 shares in the company, valued at $161,475,750. The disclosure for this sale can be found here. Insiders have sold a total of 702,930 shares of company stock worth $97,948,044 over the last three months. Corporate insiders own 1.20% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on ARES. JMP Securities reissued a “market perform” rating on shares of Ares Management in a research note on Tuesday, April 9th. UBS Group reduced their price objective on Ares Management from $160.00 to $158.00 and set a “buy” rating for the company in a research note on Wednesday, July 10th. Barclays increased their target price on Ares Management from $150.00 to $151.00 and gave the company an “overweight” rating in a report on Wednesday, July 10th. JPMorgan Chase & Co. increased their target price on Ares Management from $141.00 to $143.00 and gave the company an “overweight” rating in a report on Tuesday. Finally, Jefferies Financial Group reduced their target price on Ares Management from $131.00 to $127.00 and set a “hold” rating for the company in a report on Thursday, May 9th. One analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, Ares Management has an average rating of “Hold” and an average target price of $138.00.

Ares Management Stock Down 6.6 %

Shares of NYSE:ARES traded down $9.90 during midday trading on Friday, hitting $139.26. 2,114,036 shares of the stock were exchanged, compared to its average volume of 1,103,870. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.03 and a current ratio of 1.03. Ares Management Co. has a 52-week low of $96.00 and a 52-week high of $155.53. The business’s fifty day simple moving average is $140.07 and its two-hundred day simple moving average is $135.25. The company has a market capitalization of $43.15 billion, a PE ratio of 62.42, a P/E/G ratio of 1.29 and a beta of 1.22.

Ares Management (NYSE:ARES) last announced its quarterly earnings data on Friday, August 2nd. The asset manager reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.01. Ares Management had a return on equity of 21.22% and a net margin of 12.86%. The business had revenue of $788.68 million during the quarter, compared to analyst estimates of $860.09 million. During the same period last year, the company earned $0.90 earnings per share. As a group, research analysts predict that Ares Management Co. will post 4.23 earnings per share for the current fiscal year.

Ares Management Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be issued a dividend of $0.93 per share. The ex-dividend date is Monday, September 16th. This represents a $3.72 annualized dividend and a yield of 2.67%. Ares Management’s dividend payout ratio (DPR) is currently 166.82%.

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.