Investment Management Corp of Ontario Buys 2,100 Shares of Ares Management Co. (NYSE:ARES)

Investment Management Corp of Ontario raised its stake in Ares Management Co. (NYSE:ARES) by 51.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,151 shares of the asset manager’s stock after buying an additional 2,100 shares during the period. Investment Management Corp of Ontario’s holdings in Ares Management were worth $959,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in ARES. QRG Capital Management Inc. grew its position in shares of Ares Management by 40.9% during the 2nd quarter. QRG Capital Management Inc. now owns 2,298 shares of the asset manager’s stock worth $306,000 after buying an additional 667 shares in the last quarter. Curated Wealth Partners LLC lifted its position in shares of Ares Management by 199.7% in the 2nd quarter. Curated Wealth Partners LLC now owns 1,658,217 shares of the asset manager’s stock worth $221,007,000 after purchasing an additional 3,321,434 shares during the period. Coastline Trust Co boosted its stake in shares of Ares Management by 2.8% during the second quarter. Coastline Trust Co now owns 26,914 shares of the asset manager’s stock valued at $3,587,000 after purchasing an additional 730 shares in the last quarter. Sequoia Financial Advisors LLC increased its holdings in Ares Management by 7.4% during the second quarter. Sequoia Financial Advisors LLC now owns 2,465 shares of the asset manager’s stock valued at $329,000 after buying an additional 169 shares during the period. Finally, M&G Plc raised its stake in Ares Management by 711.1% in the second quarter. M&G Plc now owns 1,015,009 shares of the asset manager’s stock worth $134,996,000 after buying an additional 889,872 shares in the last quarter. 50.03% of the stock is currently owned by institutional investors.

Ares Management Trading Up 0.1 %

Shares of Ares Management stock opened at $177.07 on Friday. 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. The stock has a market cap of $55.43 billion, a PE ratio of 81.60, a price-to-earnings-growth ratio of 1.91 and a beta of 1.19. The firm has a fifty day moving average price of $167.47 and a 200 day moving average price of $151.19.

Ares Management (NYSE:ARES) last issued its earnings results on Friday, November 1st. The asset manager reported $0.95 EPS for the quarter, topping analysts’ consensus estimates 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 return on equity of 19.89% and a net margin of 12.51%. During the same quarter in the prior year, the business earned $0.83 earnings per share. Equities research analysts predict that Ares Management Co. will post 4.06 earnings per share for the current year.

Ares Management Dividend Announcement

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 given a $0.93 dividend. The ex-dividend date of this dividend is Tuesday, December 17th. This represents a $3.72 dividend on an annualized basis and a dividend yield of 2.10%. Ares Management’s dividend payout ratio (DPR) is currently 171.43%.

Insider Transactions at Ares Management

In other Ares Management news, Chairman Bennett Rosenthal sold 29,107 shares of the company’s stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $176.15, for a total transaction of $5,127,198.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider David B. Kaplan sold 19,775 shares of Ares Management stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $167.45, for a total transaction of $3,311,323.75. Following the completion of the sale, the insider now owns 230,225 shares in the company, valued at approximately $38,551,176.25. This trade represents a 7.91 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 608,530 shares of company stock valued at $101,686,460 in the last ninety days. 1.20% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research firms have issued reports on ARES. UBS Group lifted their target price on Ares Management from $158.00 to $195.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Deutsche Bank Aktiengesellschaft upped their price target on Ares Management from $146.00 to $150.00 and gave the stock a “hold” rating in a research report on Monday, November 11th. Morgan Stanley raised their price objective on Ares Management from $136.00 to $162.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 10th. JPMorgan Chase & Co. lowered their price target on Ares Management from $176.00 to $174.00 and set an “overweight” rating for the company in a report on Tuesday, November 5th. Finally, Royal Bank of Canada upped their price objective on shares of Ares Management from $170.00 to $185.00 and gave the company an “outperform” rating in a report on Monday, November 4th. Seven 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, the stock currently has a consensus rating of “Hold” and a consensus target price of $166.36.

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.