Ares Management Co. (NYSE:ARES) Shares Purchased by Coastline Trust Co

Coastline Trust Co raised its holdings in Ares Management Co. (NYSE:ARES) by 10.6% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 29,755 shares of the asset manager’s stock after purchasing an additional 2,841 shares during the period. Coastline Trust Co’s holdings in Ares Management were worth $4,637,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Eastern Bank acquired a new position in Ares Management in the third quarter worth about $39,000. West Oak Capital LLC grew its position in shares of Ares Management by 40.0% in the 2nd quarter. West Oak Capital LLC now owns 350 shares of the asset manager’s stock worth $47,000 after acquiring an additional 100 shares in the last quarter. Key Financial Inc bought a new stake in shares of Ares Management in the 2nd quarter valued at approximately $53,000. EntryPoint Capital LLC acquired a new stake in shares of Ares Management during the 1st quarter valued at approximately $54,000. Finally, Industrial Alliance Investment Management Inc. lifted its stake in Ares Management by 80.4% during 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 last quarter. 50.03% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ARES has been the subject of several recent research reports. Wells Fargo & Company boosted their target price on shares of Ares Management from $172.00 to $176.00 and gave the company an “equal weight” rating in a research note on Monday, November 4th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Ares Management from $146.00 to $150.00 and gave the stock a “hold” rating in a research note on Monday, November 11th. The Goldman Sachs Group lifted their target price on Ares Management from $145.00 to $160.00 and gave the company a “buy” rating in a research note on Monday, September 30th. Barclays increased their price target on Ares Management from $155.00 to $174.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Finally, TD Cowen boosted their price objective on Ares Management from $184.00 to $187.00 and gave the company a “buy” rating in a research report on Monday, November 4th. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $166.36.

Ares Management Stock Performance

ARES opened at $167.09 on Friday. Ares Management Co. has a 1-year low of $101.44 and a 1-year high of $175.74. The company has a market capitalization of $52.30 billion, a price-to-earnings ratio of 77.00, a price-to-earnings-growth ratio of 1.82 and a beta of 1.20. The business has a 50 day moving average price of $160.74 and a two-hundred day moving average price of $147.79. 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 (NYSE:ARES) last announced its earnings results on Friday, November 1st. The asset manager reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.94 by $0.01. Ares Management had a return on equity of 19.89% and a net margin of 12.51%. The business had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $833.58 million. During the same quarter last year, the business posted $0.83 earnings per share. Research analysts predict that Ares Management Co. will post 4.07 EPS for the current fiscal year.

Ares Management Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th will be paid a $0.93 dividend. The ex-dividend date of this dividend is Tuesday, December 17th. This represents a $3.72 annualized dividend and a dividend yield of 2.23%. Ares Management’s dividend payout ratio is currently 171.43%.

Insider Buying and Selling

In other news, insider Ryan Berry sold 1,671 shares of the business’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $175.00, for a total transaction of $292,425.00. Following the sale, the insider now directly owns 253,214 shares of the company’s stock, valued at $44,312,450. The trade was a 0.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman Bennett Rosenthal sold 75,000 shares of the company’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $143.05, for a total value of $10,728,750.00. The disclosure for this sale can be found here. Insiders have sold 561,280 shares of company stock worth $83,030,436 in the last ninety days. 1.20% of the stock is currently owned by corporate insiders.

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.