Xcel Wealth Management LLC Makes New $203,000 Investment in Ares Management Co. (NYSE:ARES)

Xcel Wealth Management LLC acquired a new position in shares of Ares Management Co. (NYSE:ARES) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 1,300 shares of the asset manager’s stock, valued at approximately $203,000.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in Ares Management by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 16,599,345 shares of the asset manager’s stock worth $2,207,381,000 after acquiring an additional 206,996 shares during the period. Massachusetts Financial Services Co. MA increased its stake in shares of Ares Management by 58.5% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 5,058,394 shares of the asset manager’s stock valued at $674,183,000 after purchasing an additional 1,867,933 shares during the last quarter. LRI Investments LLC increased its stake in shares of Ares Management by 49.4% in the 2nd quarter. LRI Investments LLC now owns 2,822,565 shares of the asset manager’s stock valued at $376,191,000 after purchasing an additional 933,664 shares during the last quarter. American Century Companies Inc. increased its stake in shares of Ares Management by 24.4% in the 2nd quarter. American Century Companies Inc. now owns 2,316,584 shares of the asset manager’s stock valued at $308,754,000 after purchasing an additional 453,657 shares during the last quarter. Finally, Principal Financial Group Inc. increased its stake in shares of Ares Management by 38.5% in the 2nd quarter. Principal Financial Group Inc. now owns 2,171,188 shares of the asset manager’s stock valued at $289,376,000 after purchasing an additional 603,676 shares during the last quarter. Institutional investors own 50.03% of the company’s stock.

Insider Transactions at Ares Management

In other news, insider Ryan Berry sold 10,000 shares of the stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $142.12, for a total value of $1,421,200.00. Following the completion of the sale, the insider now directly owns 446,702 shares of the company’s stock, valued at $63,485,288.24. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, insider Ryan Berry sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $142.12, for a total value of $1,421,200.00. Following the completion of the transaction, the insider now directly owns 446,702 shares of the company’s stock, valued at $63,485,288.24. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Chairman Bennett Rosenthal sold 27,172 shares of the stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $145.67, for a total value of $3,958,145.24. Following the transaction, the chairman now directly owns 222,828 shares of the company’s stock, valued at approximately $32,459,354.76. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 622,640 shares of company stock valued at $91,378,848 over the last ninety days. 1.20% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

ARES has been the topic of several recent analyst reports. The Goldman Sachs Group lifted their price target on Ares Management from $145.00 to $160.00 and gave the company a “buy” rating in a research note 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 price objective on the stock. TD Cowen raised their price objective on Ares Management from $162.00 to $175.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Wells Fargo & Company raised their price objective on Ares Management from $156.00 to $172.00 and gave the company an “equal weight” rating in a report on Wednesday, October 9th. Finally, UBS Group raised their price objective on Ares Management from $158.00 to $195.00 and gave the company a “buy” rating in a report on Tuesday. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $159.18.

Ares Management Trading Down 0.6 %

Shares of ARES stock traded down $0.97 during mid-day trading on Tuesday, hitting $167.72. The company’s stock had a trading volume of 302,834 shares, compared to its average volume of 1,143,965. The company’s fifty day simple moving average is $151.56 and its 200-day simple moving average is $143.29. Ares Management Co. has a 52 week low of $96.00 and a 52 week high of $171.76. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.05 and a current ratio of 1.05. The company has a market cap of $51.96 billion, a PE ratio of 74.86, a P/E/G ratio of 1.48 and a beta of 1.22.

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

Ares Management Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were paid a $0.93 dividend. This represents a $3.72 annualized dividend and a dividend yield of 2.22%. The ex-dividend date was Monday, September 16th. Ares Management’s dividend payout ratio (DPR) is presently 166.82%.

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.