SVB Wealth LLC Boosts Holdings in Ares Management Co. (NYSE:ARES)

SVB Wealth LLC increased its position in Ares Management Co. (NYSE:ARES - Free Report) by 9.0% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 55,346 shares of the asset manager's stock after buying an additional 4,589 shares during the period. SVB Wealth LLC's holdings in Ares Management were worth $7,377,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of ARES. Vanguard Group Inc. lifted its stake in Ares Management by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 16,599,345 shares of the asset manager's stock worth $2,207,381,000 after purchasing an additional 206,996 shares in the last quarter. Franklin Resources Inc. lifted its stake in Ares Management by 1.9% in the 4th quarter. Franklin Resources Inc. now owns 3,872,559 shares of the asset manager's stock worth $460,525,000 after purchasing an additional 71,819 shares in the last quarter. LRI Investments LLC lifted its stake in Ares Management by 49.4% in the 2nd 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 in the last quarter. Principal Financial Group Inc. lifted its stake in Ares Management by 38.5% in the 2nd quarter. Principal Financial Group Inc. now owns 2,171,188 shares of the asset manager's stock worth $289,376,000 after purchasing an additional 603,676 shares in the last quarter. Finally, Norges Bank purchased a new stake in Ares Management in the 4th quarter worth $205,499,000. Institutional investors own 50.03% of the company's stock.

Ares Management Trading Down 2.6 %

Ares Management stock traded down $3.60 during midday trading on Friday, reaching $137.45. The stock had a trading volume of 981,195 shares, compared to its average volume of 1,131,057. 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 Co. has a 52-week low of $96.00 and a 52-week high of $155.53. The firm has a market cap of $42.58 billion, a price-to-earnings ratio of 61.64, a price-to-earnings-growth ratio of 1.38 and a beta of 1.21. The company has a fifty day moving average of $143.00 and a 200 day moving average of $138.27.

Ares Management (NYSE:ARES - Get Free Report) last posted its quarterly earnings data 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. The company had revenue of $788.68 million for the quarter, compared to analyst estimates 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 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 Dividend Announcement

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

Insiders Place Their Bets

In other Ares Management news, Chairman Bennett Rosenthal sold 150,000 shares of the company's stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $131.94, for a total value of $19,791,000.00. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, Chairman Bennett Rosenthal sold 150,000 shares of the stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $131.94, for a total transaction of $19,791,000.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider R. Kipp Deveer sold 41,676 shares of the stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $150.21, for a total transaction of $6,260,151.96. Following the transaction, the insider now owns 1,075,000 shares in the company, valued at $161,475,750. The disclosure for this sale can be found here. Insiders have sold 711,815 shares of company stock worth $99,973,606 in the last three months. Corporate insiders own 1.20% of the company's stock.

Analyst Ratings Changes

ARES has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Ares Management from $134.00 to $133.00 and set a "hold" rating on the stock in a research note on Thursday, August 15th. JPMorgan Chase & Co. boosted their price target on shares of Ares Management from $141.00 to $143.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 30th. 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 target price on the stock. Barclays upped their target price on shares of Ares Management from $151.00 to $155.00 and gave the company an "overweight" rating in a research report on Monday, August 5th. Finally, UBS Group decreased their target price on shares of Ares Management from $160.00 to $158.00 and set a "buy" rating on the stock in a research report on Wednesday, July 10th. One research analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price 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.