Chase Investment Counsel Corp Boosts Stock Position in Ares Management Co. (NYSE:ARES)

Chase Investment Counsel Corp increased its position in shares of Ares Management Co. (NYSE:ARES) by 2.1% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 33,795 shares of the asset manager’s stock after acquiring an additional 689 shares during the quarter. Ares Management makes up approximately 1.8% of Chase Investment Counsel Corp’s holdings, making the stock its 23rd biggest holding. Chase Investment Counsel Corp’s holdings in Ares Management were worth $5,266,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Eastern Bank acquired a new stake in Ares Management during the third quarter worth about $39,000. J.Safra Asset Management Corp increased its position in Ares Management by 717.6% during the 1st quarter. J.Safra Asset Management Corp now owns 278 shares of the asset manager’s stock worth $37,000 after purchasing an additional 244 shares in the last quarter. West Oak Capital LLC increased its position in 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 purchasing an additional 100 shares in the last quarter. Key Financial Inc purchased a new position in Ares Management in the second quarter valued at approximately $53,000. Finally, EntryPoint Capital LLC acquired a new position in Ares Management during the first quarter valued at approximately $54,000. 50.03% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Chairman Bennett Rosenthal sold 10,154 shares of the 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 completion of the sale, the chairman now directly owns 191,508 shares of the company’s stock, valued at $27,665,245.68. 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 is available at the SEC website. In related news, insider Ryan Berry sold 57,500 shares of Ares Management stock in a transaction dated 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 trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Bennett Rosenthal sold 10,154 shares of the company’s stock in a transaction dated 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 sale, the chairman now directly owns 191,508 shares of the company’s stock, valued at $27,665,245.68. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 642,640 shares of company stock worth $94,882,147. 41.89% of the stock is owned by corporate insiders.

Ares Management Stock Performance

Shares of ARES stock opened at $170.46 on Wednesday. Ares Management Co. has a 12-month low of $101.44 and a 12-month 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 firm has a market capitalization of $53.35 billion, a price-to-earnings ratio of 78.55, a price-to-earnings-growth ratio of 1.88 and a beta of 1.20. The business has a 50 day simple moving average of $158.49 and a 200 day simple moving average of $147.02.

Ares Management (NYSE:ARES) last posted its quarterly earnings data on Friday, November 1st. The asset manager reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.94 by $0.01. Ares Management had a net margin of 12.51% and a return on equity of 19.89%. The business had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $833.58 million. During the same quarter in the prior year, the company posted $0.83 earnings per share. On average, equities research analysts anticipate that Ares Management Co. will post 4.07 EPS for the current year.

Ares Management Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th will be issued a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a yield of 2.18%. The ex-dividend date is Tuesday, December 17th. Ares Management’s payout ratio is currently 171.43%.

Analyst Upgrades and Downgrades

ARES has been the subject of a number of recent research reports. Morgan Stanley increased their target price on Ares Management from $136.00 to $162.00 and gave the company an “equal weight” rating in a research note on Thursday, October 10th. TD Cowen lifted their price objective on shares of Ares Management from $184.00 to $187.00 and gave the company a “buy” rating in a research note on Monday, November 4th. 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 price target on shares of Ares Management from $172.00 to $176.00 and gave the stock an “equal weight” rating in a research note on Monday, November 4th. Finally, Royal Bank of Canada upped their price objective on shares of Ares Management from $170.00 to $185.00 and gave the company an “outperform” rating in a research report on Monday, November 4th. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, Ares Management has an average 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.