Dearborn Partners LLC Sells 4,448 Shares of Ares Management Co. (NYSE:ARES)

Dearborn Partners LLC trimmed its holdings in Ares Management Co. (NYSE:ARES - Free Report) by 3.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 121,447 shares of the asset manager's stock after selling 4,448 shares during the quarter. Dearborn Partners LLC's holdings in Ares Management were worth $18,926,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. CIBC Asset Management Inc increased its stake in shares of Ares Management by 5.4% during the third quarter. CIBC Asset Management Inc now owns 6,767 shares of the asset manager's stock worth $1,055,000 after buying an additional 345 shares during the period. Metis Global Partners LLC lifted its stake in shares of Ares Management by 9.0% during the third quarter. Metis Global Partners LLC now owns 2,373 shares of the asset manager's stock worth $370,000 after purchasing an additional 195 shares in the last quarter. Huntington National Bank increased its position in shares of Ares Management by 54.5% in the 3rd quarter. Huntington National Bank now owns 641 shares of the asset manager's stock worth $100,000 after purchasing an additional 226 shares during the last quarter. KBC Group NV increased its position in Ares Management by 3.6% in the third quarter. KBC Group NV now owns 26,780 shares of the asset manager's stock worth $4,173,000 after buying an additional 923 shares during the period. Finally, Oppenheimer Asset Management Inc. boosted its holdings in shares of Ares Management by 103.3% in the third quarter. Oppenheimer Asset Management Inc. now owns 4,315 shares of the asset manager's stock valued at $672,000 after acquiring an additional 2,192 shares in the last quarter. Institutional investors own 50.03% of the company's stock.

Insider Buying and Selling

In other news, insider Ryan Berry sold 1,671 shares of the business's 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 transaction, the insider now owns 253,214 shares of the company's stock, valued at approximately $44,312,450. The trade was a 0.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Bennett Rosenthal sold 10,154 shares of the stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $144.46, for a total value of $1,466,846.84. Following the transaction, the chairman now owns 191,508 shares in the company, valued at $27,665,245.68. This trade represents a 5.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 561,280 shares of company stock valued at $83,030,436 over the last 90 days. 1.20% of the stock is owned by corporate insiders.

Ares Management Stock Performance

ARES traded down $1.82 during midday trading on Friday, reaching $167.20. The company's stock had a trading volume of 651,677 shares, compared to its average volume of 1,157,804. The company has a fifty day simple moving average of $160.15 and a 200 day simple moving average of $147.57. Ares Management Co. has a twelve month low of $101.44 and a twelve month high of $175.74. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.53. The stock has a market cap of $52.33 billion, a P/E ratio of 77.48, a PEG ratio of 1.82 and a beta of 1.20.

Ares Management (NYSE:ARES - Get Free Report) last posted its quarterly earnings data on Friday, November 1st. The asset manager reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate 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 EPS. Research analysts expect that Ares Management Co. will post 4.07 earnings per share for the current year.

Ares Management Announces Dividend

The business 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 annualized dividend and a dividend yield of 2.22%. The ex-dividend date is Tuesday, December 17th. Ares Management's payout ratio is 171.43%.

Analysts Set New Price Targets

A number of equities research analysts have commented on ARES shares. TD Cowen raised their price objective on Ares Management from $184.00 to $187.00 and gave the stock a "buy" rating in a research report on Monday, November 4th. UBS Group upped their price target on Ares Management from $158.00 to $195.00 and gave the company a "buy" rating in a research note on Tuesday, October 22nd. Redburn Atlantic assumed coverage on Ares Management in a report on Tuesday, August 27th. They set a "neutral" rating and a $140.00 price objective for the company. JPMorgan Chase & Co. dropped their price objective on shares of Ares Management from $176.00 to $174.00 and set an "overweight" rating for the company in a research note on Tuesday, November 5th. Finally, Royal Bank of Canada boosted their target price on shares of Ares Management from $170.00 to $185.00 and gave the stock an "outperform" rating in a report on Monday, November 4th. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price 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.