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

Element Capital Management LLC bought a new position in shares of Ares Management Co. (NYSE:ARES - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 76,037 shares of the asset manager's stock, valued at approximately $10,134,000. Ares Management accounts for 0.8% of Element Capital Management LLC's holdings, making the stock its 18th largest position.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Compass Wealth Management LLC purchased a new position in Ares Management in the first quarter valued at $28,000. Riverview Trust Co purchased a new position in Ares Management during the first quarter worth approximately $29,000. West Oak Capital LLC boosted its position in shares of Ares Management by 66.7% during the 1st quarter. West Oak Capital LLC now owns 250 shares of the asset manager's stock valued at $33,000 after acquiring an additional 100 shares during the last quarter. Global Retirement Partners LLC raised its position in shares of Ares Management by 555.0% during the 1st 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 period. Finally, TFO Wealth Partners LLC lifted its stake in shares of Ares Management by 29,200.0% in the 4th quarter. TFO Wealth Partners LLC now owns 293 shares of the asset manager's stock valued at $35,000 after purchasing an additional 292 shares during the last quarter. Hedge funds and other institutional investors own 50.03% of the company's stock.

Insider Transactions at Ares Management

In related news, insider Ryan Berry sold 10,000 shares of the 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 sale, the insider now directly owns 446,702 shares in the company, valued at approximately $63,485,288.24. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, Chairman Bennett Rosenthal sold 10,154 shares of the stock in a transaction on Monday, August 19th. The shares were sold at an average price of $144.46, for a total transaction of $1,466,846.84. Following the completion of the sale, the chairman now owns 191,508 shares of the company's stock, valued at $27,665,245.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Ryan Berry sold 10,000 shares of Ares Management stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $142.12, for a total value of $1,421,200.00. Following the completion of the sale, the insider now directly owns 446,702 shares in the company, valued at approximately $63,485,288.24. The disclosure for this sale can be found here. In the last quarter, insiders have sold 779,315 shares of company stock valued at $109,487,356. 1.20% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages recently commented on ARES. UBS Group lowered their target price on Ares Management from $160.00 to $158.00 and set a "buy" rating for the company in a report on Wednesday, July 10th. Barclays raised their target price on Ares Management from $151.00 to $155.00 and gave the stock an "overweight" rating in a research report on Monday, August 5th. Wells Fargo & Company assumed coverage on Ares Management in a report on Thursday. They set an "equal weight" rating and a $156.00 price objective on the stock. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Ares Management from $134.00 to $133.00 and set a "hold" rating for the company in a research report on Thursday, August 15th. Finally, Redburn Atlantic initiated coverage on Ares Management in a research note on Tuesday, August 27th. They issued a "neutral" rating and a $140.00 target price on the stock. One research analyst has rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Ares Management currently has an average rating of "Hold" and an average price target of $141.42.

Ares Management Trading Up 2.5 %

ARES stock traded up $3.56 during mid-day trading on Friday, reaching $147.40. 989,800 shares of the stock traded hands, compared to its average volume of 1,124,732. Ares Management Co. has a 52-week low of $96.00 and a 52-week high of $155.53. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.52. The company has a market cap of $46.13 billion, a P/E ratio of 66.10, a P/E/G ratio of 1.33 and a beta of 1.21. The stock's fifty day moving average is $143.52 and its 200-day moving average is $138.65.

Ares Management (NYSE:ARES - Get Free Report) last posted its earnings results on Friday, August 2nd. The asset manager reported $0.99 earnings per share (EPS) 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 firm had revenue of $788.68 million during the quarter, compared to analysts' expectations of $860.09 million. During the same period in the previous year, the company earned $0.90 earnings per share. As a group, sell-side analysts expect that Ares Management Co. will post 4.15 earnings per share for the current year.

Ares Management Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be paid a $0.93 dividend. This represents a $3.72 annualized dividend and a dividend yield of 2.52%. The ex-dividend date of this dividend is Monday, September 16th. Ares Management's payout ratio is presently 166.82%.

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.