Raymond James Trust N.A. Buys 1,616 Shares of Ares Management Co. (NYSE:ARES)

Raymond James Trust N.A. raised its stake in Ares Management Co. (NYSE:ARES) by 38.3% in the 3rd quarter, HoldingsChannel reports. The firm owned 5,832 shares of the asset manager’s stock after acquiring an additional 1,616 shares during the quarter. Raymond James Trust N.A.’s holdings in Ares Management were worth $909,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Chicago Partners Investment Group LLC increased its stake in Ares Management by 1.4% in the third quarter. Chicago Partners Investment Group LLC now owns 6,392 shares of the asset manager’s stock valued at $1,070,000 after purchasing an additional 89 shares in the last quarter. Sequoia Financial Advisors LLC increased its stake in Ares Management by 3.9% in the third quarter. Sequoia Financial Advisors LLC now owns 2,560 shares of the asset manager’s stock valued at $399,000 after purchasing an additional 95 shares in the last quarter. Whittier Trust Co. of Nevada Inc. increased its stake in Ares Management by 21.0% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 559 shares of the asset manager’s stock valued at $87,000 after purchasing an additional 97 shares in the last quarter. West Oak Capital LLC increased its stake 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 in the last quarter. Finally, First Horizon Advisors Inc. increased its stake in Ares Management by 10.8% in the second quarter. First Horizon Advisors Inc. now owns 1,073 shares of the asset manager’s stock valued at $143,000 after purchasing an additional 105 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 David B. Kaplan sold 18,259 shares of the business’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $175.55, for a total value of $3,205,367.45. Following the transaction, the insider now directly owns 116,348 shares in the company, valued at $20,424,891.40. The trade was a 13.56 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Ryan Berry sold 57,500 shares of the business’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $140.74, for a total transaction of $8,092,550.00. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 613,326 shares of company stock worth $96,606,744 over the last three months. 1.20% of the stock is currently owned by insiders.

Ares Management Stock Up 0.3 %

Ares Management stock opened at $175.52 on Monday. Ares Management Co. has a fifty-two week low of $107.69 and a fifty-two week high of $176.83. The stock has a market cap of $54.95 billion, a PE ratio of 80.88, a price-to-earnings-growth ratio of 1.91 and a beta of 1.20. The firm’s 50-day simple moving average is $163.69 and its 200 day simple moving average is $149.29. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.05 and a current ratio of 1.05.

Ares Management (NYSE:ARES) last released its quarterly earnings results 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 business had revenue of $1.13 billion for 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 previous year, the company earned $0.83 earnings per share. Research analysts predict that Ares Management Co. will post 4.06 EPS for the current fiscal year.

Ares Management Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th will be paid a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a yield of 2.12%. The ex-dividend date is Tuesday, December 17th. Ares Management’s payout ratio is 171.43%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on ARES shares. The Goldman Sachs Group boosted their target price on shares of Ares Management from $145.00 to $160.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. TD Cowen boosted their target price on shares of Ares Management from $184.00 to $187.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. UBS Group boosted their target price on shares of Ares Management from $158.00 to $195.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Redburn Atlantic started coverage on shares of Ares Management in a research report on Tuesday, August 27th. They set a “neutral” rating and a $140.00 target price for the company. Finally, JPMorgan Chase & Co. decreased their target price on shares of Ares Management from $176.00 to $174.00 and set an “overweight” rating for the company in a research report on Tuesday, November 5th. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price 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.