Klingman & Associates LLC Invests $810,000 in Ares Management Co. (NYSE:ARES)

Klingman & Associates LLC purchased a new stake in shares of Ares Management Co. (NYSE:ARES - Free Report) during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 5,198 shares of the asset manager's stock, valued at approximately $810,000.

Other large investors have also made changes to their positions in the company. Eastern Bank purchased a new stake in shares of Ares Management in the third quarter worth about $39,000. J.Safra Asset Management Corp raised its holdings in shares of 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 acquiring an additional 244 shares in the last quarter. West Oak Capital LLC boosted its position in shares of Ares Management by 40.0% during the 2nd quarter. West Oak Capital LLC now owns 350 shares of the asset manager's stock valued at $47,000 after acquiring an additional 100 shares during the last quarter. Key Financial Inc purchased a new position in shares of Ares Management in the second quarter valued at $53,000. Finally, EntryPoint Capital LLC bought a new stake in Ares Management in the first quarter worth $54,000. 50.03% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Ares Management news, insider Ryan Berry sold 18,329 shares of Ares Management stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $175.18, for a total transaction of $3,210,874.22. Following the completion of the sale, the insider now owns 254,885 shares of the company's stock, valued at approximately $44,650,754.30. The trade was a 0.00 % decrease in their position. The sale 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 18,329 shares of the firm's stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $175.18, for a total transaction of $3,210,874.22. Following the completion of the transaction, the insider now directly owns 254,885 shares of the company's stock, valued at approximately $44,650,754.30. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Michael J. Arougheti sold 27,120 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 transaction of $3,950,570.40. Following the completion of the sale, the chief executive officer now directly owns 222,880 shares in the company, valued at $32,466,929.60. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 640,969 shares of company stock valued at $94,589,722. Insiders own 1.20% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. The Goldman Sachs Group upped their price objective on Ares Management from $145.00 to $160.00 and gave the company a "buy" rating in a research report on Monday, September 30th. Royal Bank of Canada raised their price target on Ares Management from $170.00 to $185.00 and gave the stock an "outperform" rating in a research report on Monday, November 4th. Barclays boosted their price objective on shares of Ares Management from $155.00 to $174.00 and gave the company an "overweight" rating in a research report on Monday, October 7th. Morgan Stanley increased their target price on shares of 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, 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 price target for the company. Six analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $166.00.

Ares Management Stock Up 1.3 %

Shares of ARES traded up $2.11 during trading hours on Friday, hitting $170.38. The company had a trading volume of 1,118,596 shares, compared to its average volume of 1,296,334. Ares Management Co. has a one year low of $101.44 and a one year high of $175.74. The company's fifty day moving average price is $157.99 and its two-hundred day moving average price is $146.61. The company has a market capitalization of $53.33 billion, a PE ratio of 78.52, a price-to-earnings-growth ratio of 1.90 and a beta of 1.20. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.52.

Ares Management (NYSE:ARES - Get Free Report) last announced its earnings results on Friday, November 1st. The asset manager reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.94 by $0.01. The company had revenue of $1.13 billion during 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 20.51%. During the same period last year, the firm earned $0.83 earnings per share. As a group, equities analysts forecast that Ares Management Co. will post 4.06 earnings per share for the current fiscal year.

Ares Management Announces Dividend

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 paid a dividend of $0.93 per share. The ex-dividend date of this dividend is Tuesday, December 17th. This represents a $3.72 dividend on an annualized basis and a yield of 2.18%. 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.