Sanctuary Advisors LLC Acquires 3,715 Shares of Ares Management Co. (NYSE:ARES)

Sanctuary Advisors LLC raised its holdings in Ares Management Co. (NYSE:ARES) by 53.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,620 shares of the asset manager’s stock after acquiring an additional 3,715 shares during the period. Sanctuary Advisors LLC’s holdings in Ares Management were worth $1,655,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of ARES. Victory Capital Management Inc. boosted its holdings in shares of Ares Management by 6.5% during the 3rd quarter. Victory Capital Management Inc. now owns 65,417 shares of the asset manager’s stock valued at $10,195,000 after acquiring an additional 4,000 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Ares Management by 5.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 682,985 shares of the asset manager’s stock valued at $106,436,000 after purchasing an additional 36,476 shares in the last quarter. Toronto Dominion Bank grew its holdings in shares of Ares Management by 31.2% during the third quarter. Toronto Dominion Bank now owns 22,750 shares of the asset manager’s stock worth $3,545,000 after purchasing an additional 5,404 shares during the last quarter. GSA Capital Partners LLP acquired a new position in shares of Ares Management in the third quarter valued at approximately $900,000. Finally, BNP Paribas raised its holdings in Ares Management by 13.0% in the 3rd quarter. BNP Paribas now owns 40,342 shares of the asset manager’s stock valued at $6,319,000 after buying an additional 4,643 shares during the last quarter. Institutional investors and hedge funds own 50.03% of the company’s stock.

Ares Management Stock Performance

Shares of ARES stock opened at $171.08 on Friday. The firm has a 50 day moving average of $171.57 and a 200-day moving average of $153.55. The company has a market cap of $53.56 billion, a price-to-earnings ratio of 78.84, a price-to-earnings-growth ratio of 1.99 and a beta of 1.19. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.53. Ares Management Co. has a 52 week low of $112.83 and a 52 week high of $185.06.

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

Ares Management Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th will be paid a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a yield of 2.17%. The ex-dividend date is Tuesday, December 17th. Ares Management’s dividend payout ratio (DPR) is currently 171.43%.

Insiders Place Their Bets

In other news, CEO Michael J. Arougheti sold 20,096 shares of the business’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $167.44, for a total transaction of $3,364,874.24. Following the completion of the sale, the chief executive officer now directly owns 229,904 shares of the company’s stock, valued at $38,495,125.76. The trade was a 8.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Ryan Berry sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $160.07, for a total value of $3,201,400.00. Following the completion of the transaction, the insider now owns 344,202 shares in the company, valued at $55,096,414.14. This represents a 5.49 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 634,167 shares of company stock worth $109,917,647. Corporate insiders own 1.20% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on ARES. JPMorgan Chase & Co. dropped their price target on shares of Ares Management from $176.00 to $174.00 and set an “overweight” rating for the company in a research note on Tuesday, November 5th. Barclays lifted their target price on Ares Management from $155.00 to $174.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. The Goldman Sachs Group upped their price target on Ares Management from $145.00 to $160.00 and gave the company a “buy” rating in a research report on Monday, September 30th. Deutsche Bank Aktiengesellschaft raised their price objective on Ares Management from $146.00 to $150.00 and gave the stock a “hold” rating in a research report on Monday, November 11th. Finally, Royal Bank of Canada upped their target price on Ares Management from $170.00 to $185.00 and gave the company an “outperform” rating in a report on Monday, November 4th. Six analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $169.64.

Ares Management Company 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.