EFG Asset Management Americas Corp. Grows Stock Position in Ares Management Co. (NYSE:ARES)

EFG Asset Management Americas Corp. raised its stake in Ares Management Co. (NYSE:ARES - Free Report) by 38.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,854 shares of the asset manager's stock after acquiring an additional 6,620 shares during the period. EFG Asset Management Americas Corp.'s holdings in Ares Management were worth $3,179,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in ARES. Compass Wealth Management LLC purchased a new stake in Ares Management in the 1st quarter valued at $28,000. Riverview Trust Co acquired a new stake in shares of Ares Management during the first quarter worth about $29,000. West Oak Capital LLC grew its holdings in shares of Ares Management by 66.7% during 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 last quarter. Global Retirement Partners LLC increased its position in Ares Management by 555.0% in the 1st quarter. Global Retirement Partners LLC now owns 262 shares of the asset manager's stock valued at $35,000 after acquiring an additional 222 shares during the period. Finally, J.Safra Asset Management Corp raised its stake in Ares Management by 717.6% during the 1st quarter. J.Safra Asset Management Corp now owns 278 shares of the asset manager's stock valued at $37,000 after acquiring an additional 244 shares during the last quarter. Institutional investors and hedge funds own 50.03% of the company's stock.

Insider Buying and Selling

In other Ares Management news, CEO Michael J. Arougheti sold 27,120 shares of the firm's stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $145.67, for a total transaction of $3,950,570.40. Following the completion of the transaction, the chief executive officer now owns 222,880 shares of the company's stock, valued at $32,466,929.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Ares Management news, CEO Michael J. Arougheti sold 27,120 shares of the firm's stock in a transaction dated 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 sale, the chief executive officer now directly owns 222,880 shares of the company's stock, valued at approximately $32,466,929.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Bennett Rosenthal sold 150,000 shares of Ares Management stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $131.94, for a total transaction of $19,791,000.00. The disclosure for this sale can be found here. Insiders sold 711,815 shares of company stock worth $99,973,606 in the last ninety days. Insiders own 1.20% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on ARES shares. Royal Bank of Canada reissued an "outperform" rating and issued a $150.00 target price on shares of Ares Management in a report on Wednesday, May 22nd. Redburn Atlantic assumed coverage on shares of Ares Management in a research report on Tuesday, August 27th. They set a "neutral" rating and a $140.00 price objective for the company. TD Cowen lifted their target price on shares of Ares Management from $158.00 to $162.00 and gave the company a "buy" rating in a report on Monday, August 5th. Barclays boosted their price target on shares of Ares Management from $151.00 to $155.00 and gave the stock an "overweight" rating in a research note on Monday, August 5th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Ares Management from $141.00 to $143.00 and gave the company an "overweight" rating in a research report on Tuesday, July 30th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $138.92.

Ares Management Price Performance

ARES traded down $3.60 during trading on Friday, reaching $137.45. 981,195 shares of the stock were exchanged, compared to its average volume of 1,131,057. Ares Management Co. has a 1 year low of $96.00 and a 1 year high of $155.53. The company has a market capitalization of $42.58 billion, a price-to-earnings ratio of 61.64, a P/E/G ratio of 1.38 and a beta of 1.21. The business's 50 day moving average price is $143.00 and its two-hundred day moving average price is $138.22. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.05 and a quick ratio of 1.05.

Ares Management (NYSE:ARES - Get Free Report) last issued its quarterly earnings data on Friday, August 2nd. The asset manager reported $0.99 EPS for the quarter, beating analysts' consensus estimates of $0.98 by $0.01. The firm had revenue of $788.68 million for the quarter, compared to analysts' expectations of $860.09 million. Ares Management had a net margin of 12.53% and a return on equity of 20.46%. During the same period in the prior year, the company earned $0.90 EPS. As a group, equities research analysts anticipate that Ares Management Co. will post 4.15 earnings per share for the current year.

Ares Management Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be given a dividend of $0.93 per share. The ex-dividend date is Monday, September 16th. This represents a $3.72 annualized dividend and a dividend yield of 2.71%. Ares Management's dividend payout ratio is currently 166.82%.

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.