597 Shares in Ares Management Co. (NYSE:ARES) Purchased by Brooklyn Investment Group

Brooklyn Investment Group purchased a new position in shares of Ares Management Co. (NYSE:ARES) during the third quarter, Holdings Channel reports. The firm purchased 597 shares of the asset manager’s stock, valued at approximately $93,000.

Several other institutional investors and hedge funds also recently bought and sold shares of ARES. Curated Wealth Partners LLC boosted its holdings in 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 valued at $221,007,000 after purchasing an additional 3,321,434 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Ares Management by 58.5% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 5,058,394 shares of the asset manager’s stock valued at $674,183,000 after acquiring an additional 1,867,933 shares during the period. Lone Pine Capital LLC purchased a new stake in shares of Ares Management in the 2nd quarter valued at approximately $209,884,000. Millennium Management LLC increased its stake in Ares Management by 722.6% during the 2nd quarter. Millennium Management LLC now owns 1,738,148 shares of the asset manager’s stock worth $231,660,000 after buying an additional 1,526,856 shares during the period. Finally, LRI Investments LLC increased its stake in Ares Management by 49.4% during the 2nd quarter. LRI Investments LLC now owns 2,822,565 shares of the asset manager’s stock worth $376,191,000 after buying an additional 933,664 shares during the period. 50.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Ares Management

In other Ares Management news, CEO Michael J. Arougheti sold 20,096 shares of Ares Management stock in a transaction on Friday, November 15th. The shares were sold at an average price of $167.44, for a total value of $3,364,874.24. Following the sale, the chief executive officer now directly owns 229,904 shares in the company, valued at approximately $38,495,125.76. The trade was a 8.04 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider David B. Kaplan sold 28,887 shares of Ares Management stock in a transaction on Monday, November 25th. The shares were sold at an average price of $175.82, for a total transaction of $5,078,912.34. Following the completion of the sale, the insider now owns 87,461 shares in the company, valued at $15,377,393.02. The trade was a 24.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 602,357 shares of company stock valued at $97,672,269. 41.89% of the stock is currently owned by insiders.

Ares Management Stock Down 2.3 %

ARES stock opened at $174.78 on Friday. The company has a 50-day moving average of $165.56 and a two-hundred day moving average of $150.13. The stock has a market capitalization of $54.72 billion, a price-to-earnings ratio of 80.54, a price-to-earnings-growth ratio of 1.92 and a beta of 1.20. 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 Co. has a 52-week low of $107.69 and a 52-week high of $180.38.

Ares Management (NYSE:ARES) last posted its quarterly earnings results on Friday, November 1st. The asset manager reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.94 by $0.01. The firm had revenue of $1.13 billion during the quarter, compared to analyst estimates of $833.58 million. Ares Management had a net margin of 12.51% and a return on equity of 19.89%. During the same quarter in the prior year, the business posted $0.83 earnings per share. As a group, equities research analysts anticipate that Ares Management Co. will post 4.06 EPS for the current year.

Ares Management Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date is Tuesday, December 17th. This represents a $3.72 dividend on an annualized basis and a yield of 2.13%. Ares Management’s payout ratio is presently 171.43%.

Analysts Set New Price Targets

ARES has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. dropped their price objective on shares of Ares Management from $176.00 to $174.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 5th. Morgan Stanley increased their price target on shares of Ares Management from $136.00 to $162.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 10th. The Goldman Sachs Group increased their price target on shares of Ares Management from $145.00 to $160.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Redburn Atlantic assumed coverage on shares of Ares Management in a research note on Tuesday, August 27th. They issued a “neutral” rating and a $140.00 target price for the company. Finally, TD Cowen increased their price target on shares of Ares Management from $184.00 to $187.00 and gave the company a “buy” rating in a report on Monday, November 4th. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $166.36.

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.