National Bank of Canada FI Has $33.50 Million Stock Position in Ares Management Co. (NYSE:ARES)

National Bank of Canada FI lifted its stake in Ares Management Co. (NYSE:ARES - Free Report) by 3.9% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 214,976 shares of the asset manager's stock after acquiring an additional 8,164 shares during the quarter. National Bank of Canada FI owned approximately 0.07% of Ares Management worth $33,501,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. FMR LLC increased its position in Ares Management by 1.0% during the third quarter. FMR LLC now owns 6,301,709 shares of the asset manager's stock worth $982,058,000 after buying an additional 63,851 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of Ares Management by 58.5% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 5,058,394 shares of the asset manager's stock worth $674,183,000 after acquiring an additional 1,867,933 shares during the last quarter. State Street Corp lifted its holdings in Ares Management by 5.1% during the 3rd quarter. State Street Corp now owns 3,826,479 shares of the asset manager's stock valued at $596,318,000 after purchasing an additional 187,184 shares during the last quarter. Principal Financial Group Inc. boosted its position in Ares Management by 31.3% during the third quarter. Principal Financial Group Inc. now owns 2,849,737 shares of the asset manager's stock worth $444,103,000 after purchasing an additional 678,549 shares during the period. Finally, LRI Investments LLC boosted its position in Ares Management by 49.4% during the second quarter. LRI Investments LLC now owns 2,822,565 shares of the asset manager's stock worth $376,191,000 after purchasing an additional 933,664 shares during the period. Institutional investors and hedge funds own 50.03% of the company's stock.

Insider Buying and Selling at Ares Management

In related news, Chairman Bennett Rosenthal sold 75,000 shares of Ares Management stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $143.05, for a total value of $10,728,750.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Michael J. Arougheti sold 30,465 shares of the stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $176.16, for a total transaction of $5,366,714.40. Following the sale, the chief executive officer now directly owns 1,375,000 shares of the company's stock, valued at $242,220,000. This represents a 2.17 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 598,530 shares of company stock worth $100,265,260. 41.89% of the stock is currently owned by insiders.

Ares Management Price Performance

Shares of NYSE ARES traded down $2.78 during trading hours on Monday, hitting $175.29. 1,603,781 shares of the stock were exchanged, compared to its average volume of 1,157,321. Ares Management Co. has a 1-year low of $110.41 and a 1-year high of $180.38. The company has a market cap of $54.88 billion, a PE ratio of 80.78, a price-to-earnings-growth ratio of 1.94 and a beta of 1.19. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.05 and a current ratio of 1.05. The company's fifty day simple moving average is $168.29 and its two-hundred day simple moving average is $151.74.

Ares Management (NYSE:ARES - Get Free Report) last announced its quarterly earnings data on Friday, November 1st. The asset manager reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.94 by $0.01. The business had revenue of $1.13 billion during 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 period in the prior year, the company earned $0.83 EPS. On average, sell-side analysts predict that Ares Management Co. will post 4.06 EPS for the current year.

Ares Management Announces Dividend

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 issued a $0.93 dividend. The ex-dividend date is Tuesday, December 17th. This represents a $3.72 dividend on an annualized basis and a yield of 2.12%. Ares Management's payout ratio is presently 171.43%.

Analyst Ratings Changes

A number of analysts have recently issued reports on ARES shares. UBS Group raised their target price on shares of Ares Management from $158.00 to $195.00 and gave the stock a "buy" rating in a research note on Tuesday, October 22nd. Deutsche Bank Aktiengesellschaft boosted their price objective on Ares Management from $146.00 to $150.00 and gave the stock a "hold" rating in a report on Monday, November 11th. Wells Fargo & Company increased their target price on Ares Management from $172.00 to $176.00 and gave the stock an "equal weight" rating in a research note on Monday, November 4th. Redburn Atlantic assumed coverage on Ares Management in a research note on Tuesday, August 27th. They issued a "neutral" rating and a $140.00 price target for the company. Finally, Royal Bank of Canada increased their price objective on Ares Management from $170.00 to $185.00 and gave the stock an "outperform" rating in a research report on Monday, November 4th. Seven research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat, Ares Management has an average rating of "Hold" and a consensus price target of $166.36.

About Ares Management

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.