Verition Fund Management LLC Invests $460,000 in Ares Management Co. (NYSE:ARES)

Verition Fund Management LLC bought a new stake in shares of Ares Management Co. (NYSE:ARES - Free Report) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 2,953 shares of the asset manager's stock, valued at approximately $460,000.

Other hedge funds also recently modified their holdings of the company. Captrust Financial Advisors boosted its position in shares of Ares Management by 3.7% during the third quarter. Captrust Financial Advisors now owns 7,064 shares of the asset manager's stock worth $1,101,000 after purchasing an additional 252 shares in the last quarter. Icon Wealth Advisors LLC bought a new stake in shares of Ares Management in the 3rd quarter valued at $120,000. Rockefeller Capital Management L.P. raised its stake in Ares Management by 5.5% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 124,139 shares of the asset manager's stock worth $19,346,000 after buying an additional 6,476 shares during the period. Northwest & Ethical Investments L.P. bought a new position in Ares Management during the third quarter worth about $238,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Ares Management by 11.9% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 807,971 shares of the asset manager's stock worth $125,914,000 after acquiring an additional 85,845 shares in the last quarter. Institutional investors own 50.03% of the company's stock.

Insider Buying and Selling at Ares Management

In other news, CEO Michael J. Arougheti sold 15,825 shares of the company's stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $167.24, for a total value of $2,646,573.00. Following the completion of the transaction, the chief executive officer now directly owns 214,079 shares of the company's stock, valued at $35,802,571.96. This represents a 6.88 % 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, insider Ryan Berry sold 12,500 shares of the firm's stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $154.40, for a total value of $1,930,000.00. Following the sale, the insider now directly owns 376,702 shares of the company's stock, valued at approximately $58,162,788.80. This represents a 3.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 644,810 shares of company stock valued at $111,116,340. Corporate insiders own 1.20% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on ARES. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Ares Management from $146.00 to $150.00 and gave the company a "hold" rating in a research note on Monday, November 11th. TD Cowen boosted their price objective on shares of Ares Management from $184.00 to $187.00 and gave the company a "buy" rating in a research report on Monday, November 4th. UBS Group upped their target price on shares of Ares Management from $158.00 to $195.00 and gave the stock a "buy" rating in a research note on Tuesday, October 22nd. Morgan Stanley lifted their price target 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. Finally, Wells Fargo & Company raised Ares Management from an "equal weight" rating to an "overweight" rating and upped their price objective for the stock from $176.00 to $212.00 in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, Ares Management presently has an average rating of "Hold" and an average target price of $169.64.

Ares Management Trading Up 0.1 %

NYSE ARES traded up $0.21 on Thursday, reaching $182.66. The company had a trading volume of 1,271,141 shares, compared to its average volume of 1,159,954. The firm has a market cap of $57.18 billion, a price-to-earnings ratio of 83.97, a P/E/G ratio of 1.94 and a beta of 1.19. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.05 and a quick ratio of 1.05. Ares Management Co. has a fifty-two week low of $112.03 and a fifty-two week high of $184.47. The business has a 50 day moving average of $169.17 and a two-hundred day moving average of $152.17.

Ares Management (NYSE:ARES - Get Free Report) last issued 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. The firm had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $833.58 million. Ares Management had a net margin of 12.51% and a return on equity of 19.89%. During the same quarter in the previous year, the company earned $0.83 EPS. Analysts forecast that Ares Management Co. will post 4.06 EPS for the current year.

Ares Management Dividend Announcement

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 issued a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a yield of 2.04%. The ex-dividend date is Tuesday, December 17th. Ares Management's payout ratio is 171.43%.

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.