Retireful LLC Makes New Investment in Ares Management Co. (NYSE:ARES)

Retireful LLC bought a new position in shares of Ares Management Co. (NYSE:ARES - Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm bought 5,221 shares of the asset manager's stock, valued at approximately $696,000.

Several other hedge funds also recently made changes to their positions in the business. Gulf International Bank UK Ltd raised its holdings in Ares Management by 0.7% in the 1st quarter. Gulf International Bank UK Ltd now owns 13,420 shares of the asset manager's stock valued at $1,784,000 after buying an additional 90 shares during the last quarter. West Oak Capital LLC increased its holdings in shares of Ares Management by 66.7% in the first quarter. West Oak Capital LLC now owns 250 shares of the asset manager's stock worth $33,000 after buying an additional 100 shares during the period. First Horizon Advisors Inc. lifted its stake in Ares Management by 10.8% in the second quarter. First Horizon Advisors Inc. now owns 1,073 shares of the asset manager's stock worth $143,000 after acquiring an additional 105 shares during the period. Americana Partners LLC increased its stake in shares of Ares Management by 7.2% during the second quarter. Americana Partners LLC now owns 1,613 shares of the asset manager's stock valued at $215,000 after purchasing an additional 108 shares in the last quarter. Finally, Chase Investment Counsel Corp lifted its holdings in shares of Ares Management by 0.4% during the first quarter. Chase Investment Counsel Corp now owns 32,668 shares of the asset manager's stock valued at $4,344,000 after purchasing an additional 115 shares in the last quarter. 50.03% of the stock is owned by institutional investors.

Ares Management Trading Up 1.4 %

Ares Management stock traded up $2.05 during midday trading on Friday, reaching $146.40. The stock had a trading volume of 1,607,467 shares, compared to its average volume of 1,006,619. The firm has a market cap of $45.82 billion, a price-to-earnings ratio of 65.65, a price-to-earnings-growth ratio of 1.38 and a beta of 1.22. Ares Management Co. has a 52-week low of $96.00 and a 52-week high of $155.53. The company has a fifty day moving average of $142.32 and a 200 day moving average of $137.99. 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 (NYSE:ARES - Get Free Report) last released its quarterly earnings results on Friday, August 2nd. The asset manager reported $0.99 earnings per share for the quarter, topping analysts' consensus estimates of $0.98 by $0.01. Ares Management had a return on equity of 20.46% and a net margin of 12.53%. The company had revenue of $788.68 million during the quarter, compared to analysts' expectations of $860.09 million. During the same quarter in the prior year, the firm posted $0.90 EPS. On average, analysts anticipate that Ares Management Co. will post 4.15 earnings per share for the current fiscal year.

Ares Management Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be issued a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a yield of 2.54%. The ex-dividend date is Monday, September 16th. Ares Management's dividend payout ratio is presently 166.82%.

Insider Activity

In related news, insider David B. Kaplan sold 14,659 shares of the company's stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $138.11, for a total value of $2,024,554.49. Following the sale, the insider now owns 125,000 shares of the company's stock, valued at approximately $17,263,750. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, insider R. Kipp Deveer sold 41,676 shares of the business's stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $150.21, for a total transaction of $6,260,151.96. Following the completion of the transaction, the insider now owns 1,075,000 shares in the company, valued at approximately $161,475,750. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider David B. Kaplan sold 14,659 shares of the company's stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $138.11, for a total transaction of $2,024,554.49. Following the completion of the sale, the insider now directly owns 125,000 shares of the company's stock, valued at $17,263,750. The disclosure for this sale can be found here. Insiders sold 703,312 shares of company stock worth $98,664,278 in the last 90 days. 1.20% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

ARES has been the subject of several research reports. JPMorgan Chase & Co. boosted their price objective on Ares Management from $141.00 to $143.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 30th. Jefferies Financial Group reduced their price objective on shares of Ares Management from $131.00 to $127.00 and set a "hold" rating for the company in a research report on Thursday, May 9th. Barclays boosted their target price on shares of Ares Management from $151.00 to $155.00 and gave the company an "overweight" rating in a research note on Monday, August 5th. TD Cowen lifted their price target on shares of Ares Management from $158.00 to $162.00 and gave the company a "buy" rating in a research report on Monday, August 5th. Finally, UBS Group dropped their price target on shares of Ares Management from $160.00 to $158.00 and set a "buy" rating for the company in a research note on Wednesday, July 10th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $138.92.

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.