250 Shares in Ares Management Co. (NYSE:ARES) Bought by Eastern Bank

Eastern Bank purchased a new position in shares of Ares Management Co. (NYSE:ARES) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 250 shares of the asset manager’s stock, valued at approximately $39,000.

A number of other large investors have also recently bought and sold shares of ARES. Park Place Capital Corp boosted its stake in Ares Management by 24.4% during the 1st quarter. Park Place Capital Corp now owns 4,864 shares of the asset manager’s stock worth $647,000 after purchasing an additional 954 shares during the period. Oak Thistle LLC acquired a new stake in shares of Ares Management in the 1st quarter worth $398,000. West Oak Capital LLC lifted its stake in shares of Ares Management by 66.7% in the 1st quarter. West Oak Capital LLC now owns 250 shares of the asset manager’s stock worth $33,000 after acquiring an additional 100 shares during the period. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in shares of Ares Management by 17.7% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 397,285 shares of the asset manager’s stock worth $52,831,000 after acquiring an additional 59,668 shares during the period. Finally, BluePath Capital Management LLC lifted its stake in shares of Ares Management by 23.0% in the 1st quarter. BluePath Capital Management LLC now owns 3,246 shares of the asset manager’s stock worth $432,000 after acquiring an additional 606 shares during the period. Institutional investors and hedge funds own 50.03% of the company’s stock.

Insider Buying and Selling at Ares Management

In other Ares Management news, insider Ryan Berry sold 40,000 shares of the firm’s stock in a transaction dated Thursday, October 17th. The shares were sold at an average price of $167.99, for a total transaction of $6,719,600.00. Following the completion of the transaction, the insider now directly owns 304,202 shares in the company, valued at approximately $51,102,893.98. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Ares Management news, insider Ryan Berry sold 40,000 shares of the firm’s stock in a transaction dated Thursday, October 17th. The shares were sold at an average price of $167.99, for a total transaction of $6,719,600.00. Following the sale, the insider now directly owns 304,202 shares of the company’s stock, valued at $51,102,893.98. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Michael J. Arougheti sold 27,120 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 $3,950,570.40. Following the sale, the chief executive officer now directly owns 222,880 shares in the company, valued at $32,466,929.60. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 622,640 shares of company stock worth $91,378,848. 1.20% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several analysts have recently commented on ARES shares. UBS Group raised their target price on shares of Ares Management from $158.00 to $195.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Redburn Atlantic started coverage on shares of Ares Management in a research note on Tuesday, August 27th. They issued a “neutral” rating and a $140.00 target price for the company. Royal Bank of Canada raised their target price on shares of Ares Management from $150.00 to $170.00 and gave the stock an “outperform” rating in a research note on Friday, October 11th. TD Cowen increased 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. Finally, Barclays increased their price target on shares of Ares Management from $155.00 to $174.00 and gave the company an “overweight” rating in a report on Monday, October 7th. Six analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, Ares Management presently has a consensus rating of “Moderate Buy” and an average target price of $159.18.

Ares Management Stock Performance

NYSE:ARES opened at $169.47 on Friday. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.52. The firm has a 50-day moving average price of $153.55 and a two-hundred day moving average price of $144.12. Ares Management Co. has a twelve month low of $96.00 and a twelve month high of $171.78. The company has a market capitalization of $52.50 billion, a P/E ratio of 76.00, a price-to-earnings-growth ratio of 1.48 and a beta of 1.22.

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

Ares Management Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders 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 yield of 2.20%. Ares Management’s dividend payout ratio (DPR) is currently 166.82%.

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.