LGT Fund Management Co Ltd. Invests $653,000 in Ares Management Co. (NYSE:ARES)

LGT Fund Management Co Ltd. bought a new stake in shares of Ares Management Co. (NYSE:ARES - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 4,900 shares of the asset manager's stock, valued at approximately $653,000.

Other large investors have also modified their holdings of the company. Compass Wealth Management LLC purchased a new position in shares of Ares Management in the 1st quarter worth approximately $28,000. Riverview Trust Co acquired a new stake in shares of Ares Management in the 1st quarter worth $29,000. West Oak Capital LLC grew its stake in Ares Management by 66.7% during the 1st 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 raised its stake in Ares Management by 555.0% in the first quarter. Global Retirement Partners LLC now owns 262 shares of the asset manager's stock valued at $35,000 after buying an additional 222 shares during the last quarter. Finally, TFO Wealth Partners LLC boosted its holdings in Ares Management by 29,200.0% in the fourth quarter. TFO Wealth Partners LLC now owns 293 shares of the asset manager's stock worth $35,000 after acquiring an additional 292 shares in the last quarter. Institutional investors own 50.03% of the company's stock.

Ares Management Stock Performance

Shares of NYSE:ARES traded up $1.37 during trading on Wednesday, hitting $141.46. 573,558 shares of the stock traded hands, compared to its average volume of 1,127,833. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.52. The company has a fifty day moving average price of $143.17 and a two-hundred day moving average price of $138.37. Ares Management Co. has a 52-week low of $96.00 and a 52-week high of $155.53. The company has a market cap of $44.28 billion, a price-to-earnings ratio of 61.74, a P/E/G ratio of 1.29 and a beta of 1.21.

Ares Management (NYSE:ARES - Get Free Report) last released its quarterly earnings data on Friday, August 2nd. The asset manager reported $0.99 earnings per share for the quarter, beating analysts' consensus estimates of $0.98 by $0.01. Ares Management had a net margin of 12.53% and a return on equity of 20.46%. 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 previous year, the company earned $0.90 earnings per share. As a group, equities analysts predict that Ares Management Co. will post 4.15 EPS for the current year.

Ares Management Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be given a dividend of $0.93 per share. The ex-dividend date of this dividend is Monday, September 16th. This represents a $3.72 dividend on an annualized basis and a yield of 2.63%. Ares Management's dividend payout ratio is currently 166.82%.

Insider Buying and Selling at Ares Management

In other news, insider Ryan Berry sold 10,000 shares of the company'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 transaction of $1,421,200.00. Following the completion of the transaction, the insider now directly owns 446,702 shares of the company's stock, valued at approximately $63,485,288.24. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, 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 value of $19,791,000.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Ryan Berry sold 10,000 shares of the business'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 sale, the insider now owns 446,702 shares of the company's stock, valued at $63,485,288.24. The disclosure for this sale can be found here. Over the last three months, insiders have sold 779,315 shares of company stock valued at $109,487,356. Company insiders own 1.20% of the company's stock.

Analyst Upgrades and Downgrades

ARES has been the subject of several research analyst reports. Barclays increased their price objective 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. TD Cowen upped their target price on Ares Management from $158.00 to $162.00 and gave the company a "buy" rating in a research report on Monday, August 5th. UBS Group reduced their target price on Ares Management from $160.00 to $158.00 and set a "buy" rating for the company in a research note on Wednesday, July 10th. Redburn Atlantic initiated coverage on Ares Management in a research note on Tuesday, August 27th. They set a "neutral" rating and a $140.00 price target on the stock. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on Ares Management from $134.00 to $133.00 and set a "hold" rating for the company in a research note on Thursday, August 15th. One analyst has rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Ares Management currently has an average rating of "Hold" and an average price target of $138.92.

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.