Ares Management Co. (NYSE:ARES) Shares Acquired by Apollon Wealth Management LLC

Apollon Wealth Management LLC boosted its stake in Ares Management Co. (NYSE:ARES) by 1.5% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 20,348 shares of the asset manager’s stock after acquiring an additional 294 shares during the period. Apollon Wealth Management LLC’s holdings in Ares Management were worth $3,171,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ARES. Eastern Bank acquired a new position in shares of Ares Management in the third quarter valued at approximately $39,000. J.Safra Asset Management Corp increased its stake in Ares Management by 717.6% in the 1st quarter. J.Safra Asset Management Corp now owns 278 shares of the asset manager’s stock valued at $37,000 after buying an additional 244 shares during the period. West Oak Capital LLC raised its position in Ares Management by 40.0% during the 2nd quarter. West Oak Capital LLC now owns 350 shares of the asset manager’s stock worth $47,000 after buying an additional 100 shares during the last quarter. Key Financial Inc acquired a new stake in shares of Ares Management in the 2nd quarter worth $53,000. Finally, EntryPoint Capital LLC purchased a new stake in shares of Ares Management in the first quarter valued at about $54,000. 50.03% of the stock is owned by hedge funds and other institutional investors.

Ares Management Trading Down 0.5 %

NYSE:ARES opened at $170.46 on Wednesday. Ares Management Co. has a 52-week low of $101.44 and a 52-week high of $175.74. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.52. The stock has a fifty day simple moving average of $158.49 and a 200-day simple moving average of $147.02. The company has a market capitalization of $53.35 billion, a PE ratio of 78.55, a price-to-earnings-growth ratio of 1.87 and a beta of 1.20.

Ares Management (NYSE:ARES) last announced its earnings results on Friday, November 1st. The asset manager reported $0.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.94 by $0.01. The company had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $833.58 million. Ares Management had a net margin of 12.51% and a return on equity of 20.51%. During the same quarter in the previous year, the business posted $0.83 earnings per share. On average, equities research analysts expect that Ares Management Co. will post 4.07 earnings per share for the current fiscal year.

Ares Management Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th will be paid a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a yield of 2.18%. The ex-dividend date of this dividend is Tuesday, December 17th. Ares Management’s payout ratio is currently 171.43%.

Insider Buying and Selling at Ares Management

In other news, Chairman Bennett Rosenthal sold 27,172 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $145.67, for a total value of $3,958,145.24. Following the sale, the chairman now directly owns 222,828 shares in the company, valued at $32,459,354.76. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Chairman Bennett Rosenthal sold 27,172 shares of the company’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 transaction of $3,958,145.24. Following the transaction, the chairman now owns 222,828 shares of the company’s stock, valued at approximately $32,459,354.76. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Ryan Berry sold 18,329 shares of Ares Management stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $175.18, for a total transaction of $3,210,874.22. Following the completion of the sale, the insider now directly owns 254,885 shares of the company’s stock, valued at $44,650,754.30. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 642,640 shares of company stock worth $94,882,147. 41.89% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

ARES has been the subject of several analyst reports. 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 report on Monday, September 30th. UBS Group increased their target price on Ares Management from $158.00 to $195.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. JPMorgan Chase & Co. decreased their price target on Ares Management from $176.00 to $174.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 5th. Morgan Stanley increased 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. Finally, Redburn Atlantic began coverage on shares of Ares Management in a research report on Tuesday, August 27th. They set a “neutral” rating and a $140.00 target price on the stock. Six analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target 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.