Rockefeller Capital Management L.P. Purchases 6,476 Shares of Ares Management Co. (NYSE:ARES)

Rockefeller Capital Management L.P. boosted its position in Ares Management Co. (NYSE:ARES) by 5.5% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 124,139 shares of the asset manager’s stock after acquiring an additional 6,476 shares during the period. Rockefeller Capital Management L.P.’s holdings in Ares Management were worth $19,346,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ARES. Eastern Bank bought a new stake in Ares Management in the 3rd quarter valued at about $39,000. West Oak Capital LLC raised its stake in Ares Management by 40.0% in the 2nd quarter. West Oak Capital LLC now owns 350 shares of the asset manager’s stock valued at $47,000 after acquiring an additional 100 shares during the period. Key Financial Inc bought a new stake in Ares Management in the 2nd quarter valued at about $53,000. Industrial Alliance Investment Management Inc. grew its holdings in Ares Management by 80.4% during the 2nd quarter. Industrial Alliance Investment Management Inc. now owns 451 shares of the asset manager’s stock valued at $60,000 after buying an additional 201 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC purchased a new position in Ares Management during the 2nd quarter valued at about $78,000. 50.03% of the stock is currently owned by institutional investors.

Ares Management Stock Performance

NYSE:ARES opened at $176.73 on Monday. The business has a 50 day moving average of $165.96 and a 200 day moving average of $150.43. The company has a market capitalization of $55.33 billion, a price-to-earnings ratio of 81.44, a PEG ratio of 1.92 and a beta of 1.20. Ares Management Co. has a 1-year low of $107.69 and a 1-year high of $180.38. 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 released 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 company had revenue of $1.13 billion during the quarter, compared to the consensus estimate 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 company posted $0.83 EPS. On average, sell-side analysts predict that Ares Management Co. will post 4.06 earnings per share for the current fiscal year.

Ares Management Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th will be given 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 2.10%. Ares Management’s payout ratio is 171.43%.

Insider Buying and Selling

In other Ares Management news, insider Ryan Berry sold 57,500 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $140.74, for a total value of $8,092,550.00. Following the completion of the sale, the insider now owns 456,702 shares in the company, valued at approximately $64,276,239.48. The trade was a 11.18 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Michael J. Arougheti sold 29,292 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $175.82, for a total value of $5,150,119.44. Following the completion of the sale, the chief executive officer now owns 86,909 shares of the company’s stock, valued at $15,280,340.38. The trade was a 25.21 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 602,357 shares of company stock worth $97,672,269 in the last quarter. 1.20% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on ARES shares. Wells Fargo & Company lifted their target price on Ares Management from $172.00 to $176.00 and gave the company an “equal weight” rating in a report on Monday, November 4th. Royal Bank of Canada lifted their target price on Ares Management from $170.00 to $185.00 and gave the company an “outperform” rating in a report on Monday, November 4th. 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 report on Monday, September 30th. Redburn Atlantic started coverage on Ares Management in a report on Tuesday, August 27th. They set a “neutral” rating and a $140.00 target price for the company. Finally, JPMorgan Chase & Co. reduced their target price on Ares Management from $176.00 to $174.00 and set an “overweight” rating for the company in a report on Tuesday, November 5th. 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, Ares Management has an average rating of “Moderate Buy” and an average target price of $166.36.

Ares Management 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.