Victory Capital Management Inc. Acquires 4,629 Shares of Ares Management Co. (NYSE:ARES)

Victory Capital Management Inc. lifted its stake in Ares Management Co. (NYSE:ARES - Free Report) by 8.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 61,417 shares of the asset manager's stock after acquiring an additional 4,629 shares during the period. Victory Capital Management Inc.'s holdings in Ares Management were worth $8,186,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of ARES. Curated Wealth Partners LLC grew its stake in shares of Ares Management by 199.7% in the second quarter. Curated Wealth Partners LLC now owns 1,658,217 shares of the asset manager's stock worth $221,007,000 after acquiring an additional 3,321,434 shares during the last quarter. LRI Investments LLC acquired a new stake in Ares Management during the first quarter worth $264,729,000. Norges Bank acquired a new stake in Ares Management during the fourth quarter worth $205,499,000. M&G Plc boosted its stake in Ares Management by 711.1% during the second quarter. M&G Plc now owns 1,015,009 shares of the asset manager's stock worth $134,996,000 after buying an additional 889,872 shares in the last quarter. Finally, Corient Private Wealth LLC lifted its holdings in shares of Ares Management by 216.3% during the fourth quarter. Corient Private Wealth LLC now owns 1,253,644 shares of the asset manager's stock valued at $149,083,000 after acquiring an additional 857,245 shares during the period. Institutional investors and hedge funds own 50.03% of the company's stock.

Insider Activity at Ares Management

In other Ares Management news, CEO Michael J. Arougheti sold 27,120 shares of the business's stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $145.67, for a total value of $3,950,570.40. Following the sale, the chief executive officer now owns 222,880 shares in the company, valued at approximately $32,466,929.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Chairman Bennett Rosenthal sold 150,000 shares of the company's stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $131.94, for a total transaction of $19,791,000.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Michael J. Arougheti sold 27,120 shares of the company's stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $145.67, for a total value of $3,950,570.40. Following the sale, the chief executive officer now owns 222,880 shares in the company, valued at approximately $32,466,929.60. The disclosure for this sale can be found here. In the last three months, insiders sold 779,315 shares of company stock worth $109,487,356. 1.20% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research analysts have issued reports on ARES shares. TD Cowen lifted their price objective on Ares Management from $158.00 to $162.00 and gave the company a "buy" rating in a report on Monday, August 5th. Wells Fargo & Company started coverage on Ares Management in a report on Thursday. They issued an "equal weight" rating and a $156.00 price target for the company. JPMorgan Chase & Co. lifted their price target on Ares Management from $141.00 to $143.00 and gave the company an "overweight" rating in a report on Tuesday, July 30th. Redburn Atlantic started coverage on Ares Management in a report on Tuesday, August 27th. They set a "neutral" rating and a $140.00 price objective for the company. Finally, Barclays boosted their price objective on Ares Management from $151.00 to $155.00 and gave the stock an "overweight" rating in a report on Monday, August 5th. One equities 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. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $141.42.

Ares Management Trading Up 1.4 %

Shares of Ares Management stock traded up $1.99 during trading on Monday, hitting $149.39. 613,577 shares of the company were exchanged, compared to its average volume of 1,121,861. The firm has a market capitalization of $46.28 billion, a P/E ratio of 66.52, a price-to-earnings-growth ratio of 1.33 and a beta of 1.21. Ares Management Co. has a 1-year low of $96.00 and a 1-year high of $155.53. The firm's fifty day moving average price is $143.52 and its 200 day moving average price is $138.65. 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 posted its earnings results on Friday, August 2nd. The asset manager reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analyst estimates of $860.09 million. During the same period in the previous year, the company earned $0.90 EPS. As a group, sell-side analysts expect 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 given a $0.93 dividend. The ex-dividend date of this dividend is Monday, September 16th. This represents a $3.72 annualized dividend and a dividend yield of 2.49%. Ares Management's dividend payout ratio is presently 166.82%.

Ares Management Company 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.