Pathstone Holdings LLC Increases Holdings in Ares Management Co. (NYSE:ARES)

Pathstone Holdings LLC boosted its holdings in shares of Ares Management Co. (NYSE:ARES) by 137.0% during the third quarter, Holdings Channel reports. The firm owned 11,987 shares of the asset manager’s stock after acquiring an additional 6,930 shares during the quarter. Pathstone Holdings LLC’s holdings in Ares Management were worth $1,868,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Eastern Bank purchased a new position in Ares Management during the 3rd quarter valued at about $39,000. West Oak Capital LLC grew its holdings in shares of 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 acquiring an additional 100 shares during the period. Key Financial Inc purchased a new position in shares of Ares Management during the 2nd quarter worth approximately $53,000. Industrial Alliance Investment Management Inc. grew its holdings in shares of Ares Management by 80.4% during the 2nd quarter. Industrial Alliance Investment Management Inc. now owns 451 shares of the asset manager’s stock worth $60,000 after acquiring an additional 201 shares during the period. Finally, Ashton Thomas Private Wealth LLC purchased a new position in shares of Ares Management during the 2nd quarter worth approximately $78,000. Hedge funds and other institutional investors own 50.03% of the company’s stock.

Ares Management Trading Down 2.3 %

Shares of ARES stock opened at $174.78 on Thursday. Ares Management Co. has a 52-week low of $107.69 and a 52-week high of $180.38. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.05 and a current ratio of 1.05. The firm has a market capitalization of $54.72 billion, a PE ratio of 80.54, a PEG ratio of 1.92 and a beta of 1.20. The stock has a fifty day simple moving average of $165.19 and a two-hundred day simple moving average of $149.96.

Ares Management (NYSE:ARES) last issued its quarterly 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. 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 analyst estimates of $833.58 million. During the same quarter in the prior year, the business posted $0.83 EPS. On average, analysts predict that Ares Management Co. will post 4.06 EPS for the current fiscal year.

Ares Management Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th will be issued a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a dividend yield of 2.13%. The ex-dividend date of this dividend is Tuesday, December 17th. Ares Management’s dividend payout ratio (DPR) is presently 171.43%.

Insider Buying and Selling at Ares Management

In other Ares Management news, insider David B. Kaplan sold 14,536 shares of the stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $145.63, for a total transaction of $2,116,877.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael J. Arougheti sold 14,962 shares of the stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $145.62, for a total transaction of $2,178,766.44. Following the transaction, the chief executive officer now directly owns 1,375,000 shares of the company’s stock, valued at $200,227,500. This trade represents a 1.08 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 631,855 shares of company stock valued at $101,967,913 in the last 90 days. Insiders own 41.89% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on ARES shares. TD Cowen upped their target price on Ares Management from $184.00 to $187.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Wells Fargo & Company boosted their price target on Ares Management from $172.00 to $176.00 and gave the stock an “equal weight” rating in a research report on Monday, November 4th. UBS Group boosted their price target on Ares Management from $158.00 to $195.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Morgan Stanley boosted their price target 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, Royal Bank of Canada boosted their price target on Ares Management from $170.00 to $185.00 and gave the stock an “outperform” rating in a research report on Monday, November 4th. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, Ares Management presently has a consensus rating of “Moderate Buy” and a consensus 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.