Berry Wealth Group LP Makes New Investment in Ares Management Co. (NYSE:ARES)

Berry Wealth Group LP acquired a new stake in shares of Ares Management Co. (NYSE:ARES) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 1,326 shares of the asset manager’s stock, valued at approximately $207,000.

Several other large investors also recently modified their holdings of ARES. Curated Wealth Partners LLC boosted its position in Ares Management by 199.7% in the second quarter. Curated Wealth Partners LLC now owns 1,658,217 shares of the asset manager’s stock valued at $221,007,000 after buying an additional 3,321,434 shares in the last quarter. LRI Investments LLC acquired a new stake in Ares Management in the first quarter worth about $264,729,000. Massachusetts Financial Services Co. MA raised its holdings in Ares Management by 58.5% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 5,058,394 shares of the asset manager’s stock worth $674,183,000 after purchasing an additional 1,867,933 shares during the last quarter. Lone Pine Capital LLC bought a new position in shares of Ares Management in the 2nd quarter valued at about $209,884,000. Finally, Millennium Management LLC boosted its stake in shares of Ares Management by 722.6% in the 2nd quarter. Millennium Management LLC now owns 1,738,148 shares of the asset manager’s stock valued at $231,660,000 after purchasing an additional 1,526,856 shares during the last quarter. 50.03% of the stock is currently owned by institutional investors.

Ares Management Stock Down 0.2 %

Shares of NYSE ARES traded down $0.35 during mid-day trading on Monday, hitting $169.54. The company had a trading volume of 304,668 shares, compared to its average volume of 1,145,235. 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 simple moving average of $151.00 and a two-hundred day simple moving average of $143.03. The company has a market capitalization of $52.53 billion, a PE ratio of 76.18, a price-to-earnings-growth ratio of 1.48 and a beta of 1.22. Ares Management Co. has a one year low of $96.00 and a one year high of $171.76.

Ares Management (NYSE:ARES) last posted its quarterly earnings results on Friday, August 2nd. The asset manager reported $0.99 earnings per share 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 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 company earned $0.90 earnings per share. On average, equities analysts expect that Ares Management Co. will post 4.16 EPS for the current year.

Ares Management Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were paid a dividend of $0.93 per share. The ex-dividend date was Monday, September 16th. This represents a $3.72 annualized dividend and a dividend yield of 2.19%. Ares Management’s dividend payout ratio is presently 166.82%.

Insider Activity

In other Ares Management news, Chairman Bennett Rosenthal sold 27,172 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $145.67, for a total transaction of $3,958,145.24. Following the completion of the sale, the chairman now owns 222,828 shares of the company’s stock, valued at $32,459,354.76. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, insider Ryan Berry sold 57,500 shares of the company’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 transaction, the insider now owns 456,702 shares of the company’s stock, valued at approximately $64,276,239.48. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Bennett Rosenthal sold 27,172 shares of the business’s 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 completion of the sale, the chairman now owns 222,828 shares of the company’s stock, valued at $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. In the last ninety days, insiders have sold 582,640 shares of company stock valued at $84,659,248. 1.20% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of brokerages have issued reports on ARES. Wells Fargo & Company raised their price objective on shares of Ares Management from $156.00 to $172.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 9th. Morgan Stanley lifted their price target on shares of Ares Management from $136.00 to $162.00 and gave the company an “equal weight” rating in a research note on Thursday, October 10th. UBS Group lowered their price objective on shares of Ares Management from $160.00 to $158.00 and set a “buy” rating for the company in a research report on Wednesday, July 10th. JPMorgan Chase & Co. raised their price objective on shares of Ares Management from $141.00 to $143.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Finally, Royal Bank of Canada lifted their price target on Ares Management from $150.00 to $170.00 and gave the company an “outperform” rating in a research note on Friday, October 11th. Six investment 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, the company presently has an average rating of “Moderate Buy” and a consensus target price of $155.82.

About Ares Management

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.