Sumitomo Mitsui DS Asset Management Company Ltd Has $26.54 Million Stock Holdings in Ares Management Co. (NYSE:ARES)

Sumitomo Mitsui DS Asset Management Company Ltd lessened its stake in shares of Ares Management Co. (NYSE:ARES - Free Report) by 10.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 170,277 shares of the asset manager's stock after selling 18,830 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd owned 0.05% of Ares Management worth $26,536,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the company. Riverview Trust Co bought a new position in Ares Management during the 1st quarter valued at $29,000. West Oak Capital LLC lifted its position in shares of Ares Management by 66.7% during the first quarter. West Oak Capital LLC now owns 250 shares of the asset manager's stock worth $33,000 after purchasing an additional 100 shares during the last quarter. J.Safra Asset Management Corp grew its stake in Ares Management by 717.6% in the first quarter. J.Safra Asset Management Corp now owns 278 shares of the asset manager's stock worth $37,000 after purchasing an additional 244 shares in the last quarter. Key Financial Inc bought a new stake in Ares Management in the second quarter valued at about $53,000. Finally, EntryPoint Capital LLC acquired a new stake in Ares Management during the first quarter valued at approximately $54,000. 50.03% of the stock is owned by institutional investors and hedge funds.

Ares Management Price Performance

ARES traded up $1.24 during trading on Friday, reaching $169.97. The stock had a trading volume of 1,121,255 shares, compared to its average volume of 1,149,396. The stock has a 50 day moving average of $150.43 and a two-hundred day moving average of $142.61. 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 firm has a market capitalization of $52.66 billion, a price-to-earnings ratio of 75.66, a price-to-earnings-growth ratio of 1.48 and a beta of 1.22. Ares Management Co. has a 1-year low of $96.00 and a 1-year high of $171.14.

Ares Management (NYSE:ARES - Get Free Report) last announced its earnings results on Friday, August 2nd. The asset manager reported $0.99 earnings per share for the quarter, beating 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 business had revenue of $788.68 million during the quarter, compared to analysts' expectations of $860.09 million. During the same quarter last year, the business posted $0.90 earnings per share. As a group, equities analysts anticipate that Ares Management Co. will post 4.16 EPS for the current fiscal year.

Ares Management Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were paid a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a yield of 2.19%. The ex-dividend date was Monday, September 16th. Ares Management's dividend payout ratio is presently 166.82%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on ARES shares. Royal Bank of Canada raised their price objective on Ares Management from $150.00 to $170.00 and gave the stock an "outperform" rating in a research note on Friday, October 11th. JPMorgan Chase & Co. lifted their price target on shares of Ares Management from $141.00 to $143.00 and gave the company an "overweight" rating in a report on Tuesday, July 30th. Wells Fargo & Company increased their price objective on shares of Ares Management from $156.00 to $172.00 and gave the stock an "equal weight" rating in a research note on Wednesday, October 9th. UBS Group decreased 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. Finally, TD Cowen raised their price target on Ares Management from $162.00 to $175.00 and gave the stock a "buy" rating in a report on Wednesday, October 9th. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, Ares Management presently has an average rating of "Moderate Buy" and a consensus target price of $155.82.

Insider Activity at Ares Management

In other news, insider Ryan Berry sold 20,000 shares of the stock in a transaction on Friday, October 4th. The stock was sold at an average price of $160.07, for a total transaction of $3,201,400.00. Following the completion of the sale, the insider now owns 344,202 shares in the company, valued at approximately $55,096,414.14. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Ryan Berry sold 20,000 shares of Ares Management stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $160.07, for a total value of $3,201,400.00. Following the transaction, the insider now directly owns 344,202 shares of the company's stock, valued at $55,096,414.14. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Chairman Bennett Rosenthal sold 26,579 shares of the company's stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $142.66, for a total transaction of $3,791,760.14. Following the completion of the sale, the chairman now owns 75,000 shares of the company's stock, valued at approximately $10,699,500. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 624,316 shares of company stock valued at $90,919,400 over the last ninety days. Insiders own 1.20% of the company's stock.

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.