Ares Management Co. (NYSE:ARES) Shares Purchased by Assetmark Inc.

Assetmark Inc. boosted its stake in Ares Management Co. (NYSE:ARES - Free Report) by 65.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 41,509 shares of the asset manager's stock after purchasing an additional 16,451 shares during the period. Assetmark Inc.'s holdings in Ares Management were worth $6,469,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Ares Management by 1.3% in the first quarter. Vanguard Group Inc. now owns 16,599,345 shares of the asset manager's stock worth $2,207,381,000 after purchasing an additional 206,996 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in Ares Management by 58.5% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 5,058,394 shares of the asset manager's stock valued at $674,183,000 after buying an additional 1,867,933 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Ares Management by 31.3% during the 3rd quarter. Principal Financial Group Inc. now owns 2,849,737 shares of the asset manager's stock worth $444,103,000 after acquiring an additional 678,549 shares during the period. LRI Investments LLC boosted its stake in shares of Ares Management by 49.4% during the second quarter. LRI Investments LLC now owns 2,822,565 shares of the asset manager's stock valued at $376,191,000 after purchasing an additional 933,664 shares in the last quarter. Finally, American Century Companies Inc. lifted its holdings in Ares Management by 24.4% in the second quarter. American Century Companies Inc. now owns 2,316,584 shares of the asset manager's stock valued at $308,754,000 after buying an additional 453,657 shares during the period. 50.03% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Ares Management

In other news, Chairman Bennett Rosenthal sold 27,172 shares of the company'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 transaction, the chairman now directly owns 222,828 shares of the company's stock, valued at approximately $32,459,354.76. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Ares Management news, insider Ryan Berry sold 10,000 shares of the firm's stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $142.12, for a total value of $1,421,200.00. Following the completion of the transaction, the insider now owns 446,702 shares in the company, valued at $63,485,288.24. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Bennett Rosenthal sold 27,172 shares of Ares Management stock in a transaction on Thursday, August 15th. The shares were 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 in the company, valued at approximately $32,459,354.76. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 640,969 shares of company stock valued at $94,589,722 over the last quarter. Company insiders own 41.89% of the company's stock.

Analyst Upgrades and Downgrades

ARES has been the subject of several research reports. Deutsche Bank Aktiengesellschaft increased their price objective on Ares Management from $146.00 to $150.00 and gave the company a "hold" rating in a report on Monday. Morgan Stanley raised their price target on Ares Management from $136.00 to $162.00 and gave the company an "equal weight" rating in a report on Thursday, October 10th. Redburn Atlantic initiated coverage on shares of Ares Management in a research note on Tuesday, August 27th. They set a "neutral" rating and a $140.00 target price on the stock. JPMorgan Chase & Co. reduced their price target on Ares Management from $176.00 to $174.00 and set an "overweight" rating on the stock in a report on Tuesday, November 5th. Finally, Royal Bank of Canada raised their price objective on Ares Management from $170.00 to $185.00 and gave the stock an "outperform" rating in a research note on Monday, November 4th. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $166.36.

Ares Management Trading Down 0.5 %

Ares Management stock traded down $0.92 during mid-day trading on Tuesday, hitting $170.46. The company's stock had a trading volume of 1,037,470 shares, compared to its average volume of 1,161,756. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.05 and a current ratio of 1.05. The company has a 50 day moving average of $158.49 and a 200-day moving average of $147.02. The stock has a market cap of $53.35 billion, a PE ratio of 78.54, a P/E/G ratio of 1.87 and a beta of 1.20. Ares Management Co. has a one year low of $101.44 and a one year high of $175.74.

Ares Management (NYSE:ARES - Get Free Report) last posted its quarterly earnings data on Friday, November 1st. The asset manager reported $0.95 EPS for the quarter, beating 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 business had revenue of $1.13 billion during the quarter, compared to analysts' expectations of $833.58 million. During the same period in the previous year, the business earned $0.83 earnings per share. On average, research analysts anticipate that Ares Management Co. will post 4.07 EPS for the current year.

Ares Management Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th will be paid a $0.93 dividend. 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 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.