Edgestream Partners L.P. Has $7.50 Million Stake in Ares Management Co. (NYSE:ARES)

Edgestream Partners L.P. lowered its stake in shares of Ares Management Co. (NYSE:ARES) by 32.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,114 shares of the asset manager’s stock after selling 23,029 shares during the quarter. Edgestream Partners L.P.’s holdings in Ares Management were worth $7,498,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. FMR LLC lifted its position in shares of Ares Management by 1.0% during the 3rd quarter. FMR LLC now owns 6,301,709 shares of the asset manager’s stock valued at $982,058,000 after acquiring an additional 63,851 shares during the period. Massachusetts Financial Services Co. MA grew its stake in Ares Management by 58.5% during the second quarter. Massachusetts Financial Services Co. MA now owns 5,058,394 shares of the asset manager’s stock worth $674,183,000 after buying an additional 1,867,933 shares in the last quarter. Principal Financial Group Inc. increased its holdings in Ares Management by 31.3% in the 3rd quarter. Principal Financial Group Inc. now owns 2,849,737 shares of the asset manager’s stock valued at $444,103,000 after buying an additional 678,549 shares during the period. LRI Investments LLC raised its position in shares of Ares Management by 49.4% in the 2nd quarter. LRI Investments LLC now owns 2,822,565 shares of the asset manager’s stock valued at $376,191,000 after buying an additional 933,664 shares in the last quarter. Finally, American Century Companies Inc. raised its position in shares of Ares Management by 24.4% in the 2nd quarter. American Century Companies Inc. now owns 2,316,584 shares of the asset manager’s stock valued at $308,754,000 after buying an additional 453,657 shares in the last quarter. Institutional investors own 50.03% of the company’s stock.

Insiders Place Their Bets

In other news, insider Ryan Berry sold 57,500 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $140.74, for a total value of $8,092,550.00. Following the transaction, the insider now owns 456,702 shares in the company, valued at approximately $64,276,239.48. The trade was a 11.18 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Bennett Rosenthal sold 26,579 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $142.66, for a total transaction of $3,791,760.14. Following the completion of the sale, the chairman now directly owns 75,000 shares in the company, valued at approximately $10,699,500. This represents a 26.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 602,357 shares of company stock valued at $97,672,269. 1.20% of the stock is currently owned by company insiders.

Ares Management Stock Performance

Ares Management stock opened at $176.93 on Friday. The business has a 50 day moving average of $165.96 and a 200-day moving average of $150.39. The company has a market capitalization of $55.39 billion, a P/E ratio of 81.53, a P/E/G ratio of 1.90 and a beta of 1.20. Ares Management Co. has a 1 year low of $107.69 and a 1 year high of $180.38. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.05 and a quick ratio of 1.05.

Ares Management (NYSE:ARES) last announced its quarterly 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 firm had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $833.58 million. Ares Management had a net margin of 12.51% and a return on equity of 19.89%. During the same period in the prior year, the company posted $0.83 EPS. On average, equities research analysts predict that Ares Management Co. will post 4.06 earnings per share for the current year.

Ares Management Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th will be given a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a yield of 2.10%. The ex-dividend date of this dividend is Tuesday, December 17th. Ares Management’s dividend payout ratio is currently 171.43%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on ARES shares. Redburn Atlantic started coverage on shares of Ares Management in a research note on Tuesday, August 27th. They issued a “neutral” rating and a $140.00 price objective on the stock. UBS Group raised their target price on Ares Management from $158.00 to $195.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. Barclays boosted their price target on Ares Management from $155.00 to $174.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. Deutsche Bank Aktiengesellschaft raised their price objective on Ares Management from $146.00 to $150.00 and gave the company a “hold” rating in a research note on Monday, November 11th. Finally, Royal Bank of Canada increased their target price on shares of Ares Management from $170.00 to $185.00 and gave the stock an “outperform” rating 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 MarketBeat.com, Ares Management currently has an average rating of “Moderate Buy” and a consensus price target of $166.36.

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.