Wrapmanager Inc. Invests $273,000 in Ares Management Co. (NYSE:ARES)

Wrapmanager Inc. acquired a new stake in shares of Ares Management Co. (NYSE:ARES) during the third quarter, HoldingsChannel.com reports. The institutional investor acquired 1,752 shares of the asset manager’s stock, valued at approximately $273,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Eastern Bank bought a new stake in shares of Ares Management in the 3rd quarter valued at about $39,000. West Oak Capital LLC lifted its position in Ares Management by 40.0% during the second quarter. West Oak Capital LLC now owns 350 shares of the asset manager’s stock valued at $47,000 after acquiring an additional 100 shares during the last quarter. Key Financial Inc acquired a new stake in Ares Management in the second quarter valued at approximately $53,000. EntryPoint Capital LLC purchased a new position in Ares Management in the first quarter worth $54,000. Finally, Industrial Alliance Investment Management Inc. increased its position in shares of Ares Management by 80.4% during the second quarter. Industrial Alliance Investment Management Inc. now owns 451 shares of the asset manager’s stock worth $60,000 after purchasing an additional 201 shares in the last quarter. Hedge funds and other institutional investors own 50.03% of the company’s stock.

Ares Management Trading Up 1.7 %

NYSE ARES opened at $170.35 on Wednesday. Ares Management Co. has a 1 year low of $105.89 and a 1 year high of $175.74. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.05 and a quick ratio of 1.05. The company has a market capitalization of $53.33 billion, a PE ratio of 78.50, a P/E/G ratio of 1.82 and a beta of 1.20. The company has a fifty day moving average of $161.29 and a 200 day moving average of $148.24.

Ares Management (NYSE:ARES) last issued its earnings results on Friday, November 1st. The asset manager reported $0.95 EPS for the quarter, topping analysts’ consensus estimates of $0.94 by $0.01. The firm had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $833.58 million. Ares Management had a return on equity of 19.89% and a net margin of 12.51%. During the same quarter in the prior year, the business earned $0.83 earnings per share. Research analysts forecast that Ares Management Co. will post 4.07 earnings per share for the current year.

Ares Management Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders 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 2.18%. The ex-dividend date is Tuesday, December 17th. Ares Management’s dividend payout ratio (DPR) is 171.43%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on ARES. Wells Fargo & Company raised their price objective 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. Morgan Stanley raised their price target on Ares Management from $136.00 to $162.00 and gave the stock an “equal weight” rating in a report on Thursday, October 10th. Barclays upped their price objective 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. The Goldman Sachs Group lifted their target price on shares of Ares Management from $145.00 to $160.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of Ares Management from $146.00 to $150.00 and gave the stock a “hold” rating in a research report on Monday, November 11th. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $166.36.

Insider Activity at Ares Management

In other news, Chairman Bennett Rosenthal sold 13,533 shares of the business’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $145.12, for a total value of $1,963,908.96. Following the completion of the sale, the chairman now directly owns 136,467 shares in the company, valued at $19,804,091.04. The trade was a 9.02 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Ryan Berry sold 18,329 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $175.18, for a total value of $3,210,874.22. Following the transaction, the insider now directly owns 254,885 shares of the company’s stock, valued at approximately $44,650,754.30. The trade was a 6.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 590,579 shares of company stock worth $89,737,173 in the last three months. Company insiders own 41.89% of the company’s stock.

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.