M&G Plc Has $179.75 Million Stock Position in Ares Management Co. (NYSE:ARES)

M&G PLC raised its holdings in Ares Management Co. (NYSE:ARES - Free Report) by 13.5% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,152,239 shares of the asset manager's stock after purchasing an additional 137,230 shares during the quarter. Ares Management makes up about 0.9% of M&G PLC's investment portfolio, making the stock its 22nd largest position. M&G PLC owned approximately 0.37% of Ares Management worth $179,749,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Chicago Partners Investment Group LLC increased its holdings in shares of Ares Management by 1.4% in the third quarter. Chicago Partners Investment Group LLC now owns 6,392 shares of the asset manager's stock valued at $1,070,000 after purchasing an additional 89 shares in the last quarter. Sequoia Financial Advisors LLC boosted its position in Ares Management by 3.9% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 2,560 shares of the asset manager's stock valued at $399,000 after buying an additional 95 shares during the last quarter. Whittier Trust Co. of Nevada Inc. increased its stake in shares of Ares Management by 21.0% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 559 shares of the asset manager's stock valued at $87,000 after buying an additional 97 shares during the period. West Oak Capital LLC raised its position in shares of Ares Management by 40.0% during the second quarter. West Oak Capital LLC now owns 350 shares of the asset manager's stock worth $47,000 after acquiring an additional 100 shares during the last quarter. Finally, First Horizon Advisors Inc. lifted its stake in shares of Ares Management by 10.8% during the second quarter. First Horizon Advisors Inc. now owns 1,073 shares of the asset manager's stock valued at $143,000 after acquiring an additional 105 shares during the period. Institutional investors and hedge funds own 50.03% of the company's stock.

Wall Street Analyst Weigh In

ARES has been the subject of a number of research reports. Barclays lifted their price objective on Ares Management from $155.00 to $174.00 and gave the stock an "overweight" rating in a research report on Monday, October 7th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Ares Management from $148.00 to $146.00 and set a "hold" rating for the company in a research note on Monday. The Goldman Sachs Group raised their price objective on shares of 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 upped their target price on shares of Ares Management from $172.00 to $176.00 and gave the company an "equal weight" rating in a research report on Monday. Finally, 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 research report on Tuesday. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $166.00.

Insider Transactions at Ares Management

In other news, Chairman Bennett Rosenthal sold 27,172 shares of the business'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 sale, the chairman now owns 222,828 shares of the company's stock, valued at $32,459,354.76. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Ares Management news, insider Ryan Berry sold 10,000 shares of the firm's stock in a transaction that occurred on 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 directly owns 446,702 shares in the company, valued at $63,485,288.24. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman Bennett Rosenthal sold 27,172 shares of the business's stock in a transaction that occurred on Thursday, August 15th. The stock was 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 in the company, valued at $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 622,640 shares of company stock valued at $91,378,848 in the last ninety days. 41.89% of the stock is currently owned by corporate insiders.

Ares Management Stock Down 2.5 %

Shares of NYSE ARES traded down $4.23 during mid-day trading on Thursday, reaching $168.27. 1,569,761 shares of the company's stock were exchanged, compared to its average volume of 1,161,429. The business has a fifty day simple moving average of $157.04 and a 200 day simple moving average of $146.19. 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 0.52. The firm has a market capitalization of $52.67 billion, a price-to-earnings ratio of 79.49, a PEG ratio of 1.56 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 EPS for the quarter, beating 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 for the quarter, compared to analysts' expectations of $833.58 million. During the same period in the previous year, the firm posted $0.83 EPS. As a group, equities analysts expect that Ares Management Co. will post 4.11 EPS for the current fiscal year.

Ares Management Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th will be given a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a yield of 2.21%. The ex-dividend date of this dividend is Tuesday, December 17th. Ares Management's dividend payout ratio (DPR) is currently 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.