3,127 Shares in Ares Management Co. (NYSE:ARES) Bought by Copley Financial Group Inc.

Copley Financial Group Inc. acquired a new stake in shares of Ares Management Co. (NYSE:ARES) during the third quarter, HoldingsChannel reports. The fund acquired 3,127 shares of the asset manager’s stock, valued at approximately $487,000.

Other institutional investors have also added to or reduced their stakes in the company. Point72 DIFC Ltd bought a new position in Ares Management in the third quarter worth about $36,000. Eastern Bank purchased a new position in shares of Ares Management in the 3rd quarter valued at approximately $39,000. West Oak Capital LLC boosted its position in shares of Ares Management by 40.0% during 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. Key Financial Inc purchased a new stake in Ares Management in the second quarter worth $53,000. Finally, Industrial Alliance Investment Management Inc. grew its stake in Ares Management by 80.4% in the second quarter. Industrial Alliance Investment Management Inc. now owns 451 shares of the asset manager’s stock worth $60,000 after purchasing an additional 201 shares during the period. 50.03% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on ARES shares. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Ares Management from $146.00 to $150.00 and gave the company a “hold” rating in a report on Monday, November 11th. StockNews.com cut shares of Ares Management from a “hold” rating to a “sell” rating in a research report on Wednesday. The Goldman Sachs Group upped their price objective on shares of Ares Management from $145.00 to $160.00 and gave the stock a “buy” rating in a report on Monday, September 30th. TD Cowen boosted their price target on Ares Management from $184.00 to $187.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Finally, Redburn Atlantic started coverage on Ares Management in a research note on Tuesday, August 27th. They issued a “neutral” rating and a $140.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Ares Management has an average rating of “Hold” and a consensus target price of $169.64.

Insiders Place Their Bets

In other Ares Management news, insider R. Kipp Deveer sold 115,838 shares of the stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $177.83, for a total transaction of $20,599,471.54. Following the completion of the sale, the insider now directly owns 1,259,162 shares of the company’s stock, valued at $223,916,778.46. This trade represents a 8.42 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Ryan Berry sold 5,443 shares of the business’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $180.14, for a total transaction of $980,502.02. Following the completion of the transaction, the insider now directly owns 247,771 shares in the company, valued at $44,633,467.94. This trade represents a 2.15 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 644,810 shares of company stock worth $111,116,340 over the last three months. 1.20% of the stock is currently owned by company insiders.

Ares Management Stock Up 1.1 %

Shares of Ares Management stock traded up $1.96 on Friday, reaching $184.70. The company’s stock had a trading volume of 193,875 shares, compared to its average volume of 1,155,659. Ares Management Co. has a 52 week low of $112.83 and a 52 week high of $185.06. The firm’s fifty day simple moving average is $169.17 and its two-hundred day simple moving average is $152.17. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.53. The company has a market capitalization of $57.82 billion, a price-to-earnings ratio of 84.18, a P/E/G ratio of 1.99 and a beta of 1.19.

Ares Management (NYSE:ARES) last issued its earnings results on Friday, November 1st. The asset manager reported $0.95 earnings per share for the quarter, topping analysts’ consensus estimates of $0.94 by $0.01. The business had revenue of $1.13 billion during the quarter, compared to analyst estimates 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 previous year, the firm earned $0.83 EPS. Equities analysts anticipate that Ares Management Co. will post 4.06 earnings per share for the current year.

Ares Management Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th will be issued a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a yield of 2.01%. The ex-dividend date is Tuesday, December 17th. Ares Management’s dividend payout ratio is currently 171.43%.

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.