Edgestream Partners L.P. Increases Stake in Ares Management Co. (NYSE:ARES)

Edgestream Partners L.P. boosted its position in Ares Management Co. (NYSE:ARES - Free Report) by 20.5% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 71,143 shares of the asset manager's stock after purchasing an additional 12,118 shares during the period. Ares Management comprises 0.5% of Edgestream Partners L.P.'s portfolio, making the stock its 19th biggest holding. Edgestream Partners L.P.'s holdings in Ares Management were worth $9,482,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Compass Wealth Management LLC bought a new position in Ares Management in the 1st quarter worth $28,000. Riverview Trust Co bought a new position in shares of Ares Management in the first quarter worth about $29,000. West Oak Capital LLC lifted 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 buying an additional 100 shares in the last quarter. TFO Wealth Partners LLC grew its stake in shares of Ares Management by 29,200.0% during the 4th quarter. TFO Wealth Partners LLC now owns 293 shares of the asset manager's stock valued at $35,000 after acquiring an additional 292 shares during the period. Finally, J.Safra Asset Management Corp increased its holdings in Ares Management by 717.6% in the 1st quarter. J.Safra Asset Management Corp now owns 278 shares of the asset manager's stock worth $37,000 after acquiring an additional 244 shares in the last quarter. 50.03% of the stock is currently owned by institutional investors.

Insider Transactions at Ares Management

In other news, Chairman Bennett Rosenthal sold 150,000 shares of the stock in a transaction on 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 at this link. In other Ares Management news, insider Ryan Berry sold 12,500 shares of the company's stock in a transaction on Monday, September 16th. The stock was sold at an average price of $148.42, for a total value of $1,855,250.00. Following the transaction, the insider now owns 414,202 shares of the company's stock, valued at approximately $61,475,860.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Bennett Rosenthal sold 150,000 shares of the stock in a transaction on Friday, June 21st. The stock was sold at an average price of $131.94, for a total value of $19,791,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 866,816 shares of company stock worth $122,071,500. 1.20% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Wells Fargo & Company assumed coverage on shares of Ares Management in a research report on Thursday, September 12th. They issued an "equal weight" rating and a $156.00 price target for the company. Deutsche Bank Aktiengesellschaft cut their price target 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. UBS Group lowered their price objective on Ares Management from $160.00 to $158.00 and set a "buy" rating on the stock in a research report on Wednesday, July 10th. JPMorgan Chase & Co. increased their target price on Ares Management from $141.00 to $143.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 30th. Finally, Barclays boosted their price target 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 issued a buy rating to the stock. Based on data from MarketBeat, Ares Management currently has a consensus rating of "Hold" and a consensus target price of $141.42.

Ares Management Price Performance

ARES traded up $3.41 during trading hours on Tuesday, hitting $152.80. The company's stock had a trading volume of 1,108,328 shares, compared to its average volume of 1,121,787. The stock has a market cap of $47.34 billion, a price-to-earnings ratio of 66.96, a P/E/G ratio of 1.33 and a beta of 1.21. The business's 50-day moving average price is $143.79 and its 200-day moving average price is $138.77. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.52. Ares Management Co. has a 12 month low of $96.00 and a 12 month high of $155.53.

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 for the quarter, topping analysts' consensus estimates of $0.98 by $0.01. The firm had revenue of $788.68 million for the quarter, compared to the consensus estimate 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 previous year, the firm posted $0.90 EPS. 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 business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be issued a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a dividend yield of 2.43%. The ex-dividend date is Monday, September 16th. Ares Management's dividend payout ratio (DPR) is 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.