Cumberland Partners Ltd Decreases Holdings in Ares Management Co. (NYSE:ARES)

Cumberland Partners Ltd trimmed its holdings in shares of Ares Management Co. (NYSE:ARES - Free Report) by 21.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 51,515 shares of the asset manager's stock after selling 14,440 shares during the period. Cumberland Partners Ltd's holdings in Ares Management were worth $8,028,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of Ares Management by 2.8% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 406,363 shares of the asset manager's stock worth $63,328,000 after purchasing an additional 10,942 shares during the period. GSA Capital Partners LLP purchased a new position in Ares Management during the third quarter valued at $900,000. Apollon Wealth Management LLC increased its position in shares of Ares Management by 1.5% during the third quarter. Apollon Wealth Management LLC now owns 20,348 shares of the asset manager's stock valued at $3,171,000 after acquiring an additional 294 shares during the last quarter. Crossmark Global Holdings Inc. purchased a new position in Ares Management in the third quarter worth approximately $232,000. Finally, Atria Investments Inc increased its stake in Ares Management by 39.9% in the 3rd quarter. Atria Investments Inc now owns 7,563 shares of the asset manager's stock valued at $1,179,000 after buying an additional 2,158 shares during the period. 50.03% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, insider Ryan Berry sold 1,671 shares of the stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $175.00, for a total transaction of $292,425.00. Following the completion of the sale, the insider now directly owns 253,214 shares in the company, valued at $44,312,450. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, insider Ryan Berry sold 1,671 shares of the company's stock in a transaction on Monday, November 11th. The stock was sold at an average price of $175.00, for a total value of $292,425.00. Following the transaction, the insider now directly owns 253,214 shares of the company's stock, valued at $44,312,450. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Bennett Rosenthal sold 26,579 shares of the firm's stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $142.66, for a total transaction of $3,791,760.14. Following the sale, the chairman now owns 75,000 shares of the company's stock, valued at $10,699,500. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 642,640 shares of company stock valued at $94,882,147 over the last 90 days. Company insiders own 41.89% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on ARES shares. Deutsche Bank Aktiengesellschaft raised their price target on shares of Ares Management from $146.00 to $150.00 and gave the stock a "hold" rating in a research report on Monday. JPMorgan Chase & Co. dropped their price target on Ares Management from $176.00 to $174.00 and set an "overweight" rating on the stock in a research report on Tuesday, November 5th. The Goldman Sachs Group lifted their price target on Ares Management from $145.00 to $160.00 and gave the company a "buy" rating in a research note on Monday, September 30th. Wells Fargo & Company raised 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. Finally, UBS Group boosted their price target on Ares Management from $158.00 to $195.00 and gave the stock a "buy" rating in a research report on Tuesday, October 22nd. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $166.36.

Ares Management Price Performance

Shares of NYSE:ARES traded down $0.92 during trading on Tuesday, reaching $170.46. 1,037,470 shares of the company's stock traded hands, compared to its average volume of 1,161,756. The company has a 50-day simple moving average of $158.49 and a 200-day simple moving average of $147.02. The firm 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. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.52. Ares Management Co. has a fifty-two week low of $101.44 and a fifty-two week high of $175.74.

Ares Management (NYSE:ARES - Get Free Report) last released its quarterly earnings results on Friday, November 1st. The asset manager reported $0.95 EPS 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 20.51%. The business had revenue of $1.13 billion during the quarter, compared to analyst estimates of $833.58 million. During the same quarter in the prior year, the firm earned $0.83 earnings per share. As a group, analysts predict 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. Shareholders of record on Tuesday, December 17th will be given a $0.93 dividend. The ex-dividend date is Tuesday, December 17th. This represents a $3.72 annualized dividend and a yield of 2.18%. Ares Management's dividend payout ratio is presently 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.