Ares Management Co. (NYSE:ARES) Holdings Lowered by Hamlin Capital Management LLC

Hamlin Capital Management LLC lowered its position in Ares Management Co. (NYSE:ARES) by 4.5% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,108,619 shares of the asset manager’s stock after selling 52,322 shares during the period. Ares Management makes up about 4.3% of Hamlin Capital Management LLC’s investment portfolio, making the stock its 6th biggest position. Hamlin Capital Management LLC owned approximately 0.36% of Ares Management worth $172,767,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Sequoia Financial Advisors LLC grew its stake in Ares Management by 3.9% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 2,560 shares of the asset manager’s stock worth $399,000 after acquiring an additional 95 shares during the period. Whittier Trust Co. of Nevada Inc. grew its position in shares of 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 during the period. West Oak Capital LLC lifted its position in Ares Management by 66.7% during the first quarter. West Oak Capital LLC now owns 250 shares of the asset manager’s stock worth $33,000 after buying an additional 100 shares during the period. First Horizon Advisors Inc. lifted its position in Ares Management by 10.8% during the second quarter. First Horizon Advisors Inc. now owns 1,073 shares of the asset manager’s stock worth $143,000 after buying an additional 105 shares during the period. Finally, Americana Partners LLC boosted its stake in Ares Management by 7.2% in the 2nd quarter. Americana Partners LLC now owns 1,613 shares of the asset manager’s stock worth $215,000 after buying an additional 108 shares during the last quarter. 50.03% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on ARES shares. Morgan Stanley increased their price objective on shares of Ares Management from $136.00 to $162.00 and gave the stock an “equal weight” rating in a report on Thursday, October 10th. TD Cowen lifted their price target on shares of Ares Management from $162.00 to $175.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Deutsche Bank Aktiengesellschaft dropped their price objective on Ares Management from $134.00 to $133.00 and set a “hold” rating for the company in a report on Thursday, August 15th. Royal Bank of Canada lifted their target price on Ares Management from $150.00 to $170.00 and gave the company an “outperform” rating in a report on Friday, October 11th. Finally, Barclays upped their price target on Ares Management from $155.00 to $174.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Ares Management has an average rating of “Moderate Buy” and a consensus price target of $159.18.

Ares Management Stock Performance

Ares Management stock opened at $169.47 on Friday. The company has a market cap of $52.50 billion, a price-to-earnings ratio of 76.00, a price-to-earnings-growth ratio of 1.48 and a beta of 1.22. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.05 and a quick ratio of 1.05. Ares Management Co. has a 12 month low of $96.00 and a 12 month high of $171.78. The stock’s 50-day moving average is $153.55 and its 200-day moving average is $144.12.

Ares Management (NYSE:ARES) last announced its earnings results on Friday, August 2nd. The asset manager reported $0.99 EPS for the quarter, beating the consensus estimate of $0.98 by $0.01. The business had revenue of $788.68 million for the quarter, compared to the consensus estimate of $860.09 million. Ares Management had a return on equity of 20.46% and a net margin of 12.53%. During the same period last year, the business posted $0.90 EPS. Equities analysts anticipate that Ares Management Co. will post 4.16 earnings per share for the current year.

Ares Management Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were issued a dividend of $0.93 per share. The ex-dividend date was Monday, September 16th. This represents a $3.72 annualized dividend and a dividend yield of 2.20%. Ares Management’s payout ratio is currently 166.82%.

Insider Activity at Ares Management

In related news, Chairman Bennett Rosenthal sold 27,172 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $145.67, for a total transaction of $3,958,145.24. Following the sale, the chairman now directly owns 222,828 shares in the company, valued at approximately $32,459,354.76. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Ares Management news, CEO Michael J. Arougheti sold 27,120 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $145.67, for a total transaction of $3,950,570.40. Following the completion of the sale, the chief executive officer now owns 222,880 shares in the company, valued at $32,466,929.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Bennett Rosenthal sold 27,172 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $145.67, for a total value of $3,958,145.24. Following the sale, the chairman now owns 222,828 shares of the company’s stock, valued at approximately $32,459,354.76. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 622,640 shares of company stock worth $91,378,848. 1.20% of the stock is currently owned by company insiders.

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.