Bridges Investment Management Inc. Boosts Stake in Ares Management Co. (NYSE:ARES)

Bridges Investment Management Inc. grew its holdings in shares of Ares Management Co. (NYSE:ARES) by 9.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,246 shares of the asset manager’s stock after acquiring an additional 195 shares during the period. Bridges Investment Management Inc.’s holdings in Ares Management were worth $350,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Klingman & Associates LLC acquired a new stake in Ares Management during the 3rd quarter valued at approximately $810,000. Assetmark Inc. grew its position in shares of Ares Management by 65.7% during the third quarter. Assetmark Inc. now owns 41,509 shares of the asset manager’s stock worth $6,469,000 after buying an additional 16,451 shares in the last quarter. Equitable Trust Co. bought a new stake in shares of Ares Management in the third quarter worth $268,000. Leavell Investment Management Inc. raised its holdings in Ares Management by 1.3% in the third quarter. Leavell Investment Management Inc. now owns 20,882 shares of the asset manager’s stock valued at $3,254,000 after acquiring an additional 264 shares in the last quarter. Finally, AIA Group Ltd raised its holdings in Ares Management by 7.6% in the third quarter. AIA Group Ltd now owns 12,800 shares of the asset manager’s stock valued at $1,995,000 after acquiring an additional 900 shares in the last quarter. 50.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ARES has been the topic of a number of recent analyst reports. Barclays upped their target price on shares of Ares Management from $155.00 to $174.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. Wells Fargo & Company lifted their target price 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. The Goldman Sachs Group upped their price target on Ares Management from $145.00 to $160.00 and gave the company a “buy” rating in a research report on Monday, September 30th. Redburn Atlantic assumed coverage on shares of Ares Management in a report on Tuesday, August 27th. They issued a “neutral” rating and a $140.00 price objective for the company. Finally, JPMorgan Chase & Co. dropped their target price on shares of Ares Management from $176.00 to $174.00 and set an “overweight” rating on the stock in a report on Tuesday, November 5th. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $166.00.

Insider Transactions at Ares Management

In related news, Chairman Bennett Rosenthal sold 10,154 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $144.46, for a total transaction of $1,466,846.84. Following the transaction, the chairman now owns 191,508 shares in the company, valued at $27,665,245.68. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Ryan Berry sold 57,500 shares of the firm’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $140.74, for a total transaction of $8,092,550.00. Following the completion of the transaction, the insider now owns 456,702 shares in the company, valued at approximately $64,276,239.48. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Chairman Bennett Rosenthal sold 10,154 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $144.46, for a total transaction of $1,466,846.84. Following the completion of the sale, the chairman now owns 191,508 shares in the company, valued at $27,665,245.68. The trade was 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 640,969 shares of company stock valued at $94,589,722. Company insiders own 1.20% of the company’s stock.

Ares Management Stock Performance

Shares of NYSE ARES opened at $170.38 on Friday. Ares Management Co. has a 12-month low of $101.44 and a 12-month high of $175.74. The company has a market cap of $53.33 billion, a PE ratio of 78.52, a P/E/G ratio of 1.90 and a beta of 1.20. The stock has a 50 day simple moving average of $157.99 and a 200-day simple moving average of $146.61. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.52.

Ares Management (NYSE:ARES) last announced 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 20.51% and a net margin of 12.51%. The company had revenue of $1.13 billion during the quarter, compared to analyst estimates of $833.58 million. During the same quarter in the previous year, the firm posted $0.83 EPS. On average, equities research analysts forecast that Ares Management Co. will post 4.06 EPS for the current year.

Ares Management Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th will be given a dividend of $0.93 per share. The ex-dividend date of this dividend is Tuesday, December 17th. This represents a $3.72 dividend on an annualized basis and a dividend yield of 2.18%. Ares Management’s dividend payout ratio (DPR) is 171.43%.

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.