Klingman & Associates LLC Makes New $810,000 Investment in Ares Management Co. (NYSE:ARES)

Klingman & Associates LLC bought a new position in shares of Ares Management Co. (NYSE:ARES) during the 3rd quarter, HoldingsChannel reports. The fund bought 5,198 shares of the asset manager’s stock, valued at approximately $810,000.

A number of other large investors have also recently bought and sold shares of ARES. J.Safra Asset Management Corp boosted its position in Ares Management by 717.6% in the first quarter. J.Safra Asset Management Corp now owns 278 shares of the asset manager’s stock valued at $37,000 after buying an additional 244 shares in the last quarter. Eastern Bank bought a new position in Ares Management in the third quarter valued at about $39,000. West Oak Capital LLC raised its position in Ares Management by 40.0% in the second quarter. West Oak Capital LLC now owns 350 shares of the asset manager’s stock valued at $47,000 after purchasing an additional 100 shares during the last quarter. Key Financial Inc bought a new stake in shares of Ares Management during the second quarter worth about $53,000. Finally, EntryPoint Capital LLC acquired a new position in shares of Ares Management in the first quarter valued at approximately $54,000. 50.03% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider David B. Kaplan sold 27,068 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $145.67, for a total transaction of $3,942,995.56. Following the completion of the transaction, the insider now owns 222,932 shares in the company, valued at approximately $32,474,504.44. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related 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 value of $3,942,995.56. Following the transaction, the insider now owns 222,932 shares in the company, valued at approximately $32,474,504.44. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Michael J. Arougheti sold 27,120 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $145.67, for a total value of $3,950,570.40. Following the completion of the sale, the chief executive officer now directly owns 222,880 shares of the company’s stock, valued at $32,466,929.60. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 640,969 shares of company stock valued at $94,589,722. Insiders own 1.20% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on ARES shares. Royal Bank of Canada lifted their target price on shares of Ares Management from $170.00 to $185.00 and gave the stock an “outperform” rating in a research report on Monday, November 4th. Redburn Atlantic initiated coverage on Ares Management in a research report on Tuesday, August 27th. They set a “neutral” rating and a $140.00 target price for the company. Morgan Stanley increased 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. UBS Group boosted their target price on shares of Ares Management from $158.00 to $195.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. Finally, Deutsche Bank Aktiengesellschaft cut their price target on Ares Management from $148.00 to $146.00 and set a “hold” rating on the stock in a report on Monday, November 4th. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, Ares Management presently has a consensus rating of “Moderate Buy” and a consensus price target of $166.00.

Ares Management Price Performance

Shares of NYSE:ARES opened at $170.09 on Friday. The stock’s 50 day moving average is $157.99 and its 200-day moving average is $146.61. Ares Management Co. has a twelve month low of $101.44 and a twelve month high of $175.74. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $53.24 billion, a price-to-earnings ratio of 78.38, a PEG ratio of 1.54 and a beta of 1.20.

Ares Management (NYSE:ARES) last released its quarterly earnings data on Friday, November 1st. The asset manager reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.94 by $0.01. The firm had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $833.58 million. Ares Management had a net margin of 12.51% and a return on equity of 20.51%. During the same quarter in the prior year, the company posted $0.83 earnings per share. Sell-side analysts forecast that Ares Management Co. will post 4.1 EPS for the current fiscal year.

Ares Management Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th will be issued a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date of this dividend is Tuesday, December 17th. Ares Management’s dividend payout ratio is 171.43%.

Ares Management 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.