Ares Management Co. (NYSE:ARES) Shares Acquired by abrdn plc

abrdn plc boosted its stake in shares of Ares Management Co. (NYSE:ARES - Free Report) by 1,085.0% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 46,892 shares of the asset manager's stock after buying an additional 42,935 shares during the period. abrdn plc's holdings in Ares Management were worth $7,308,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. Sumitomo Mitsui Trust Holdings Inc. raised its stake in Ares Management by 17.7% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 397,285 shares of the asset manager's stock worth $52,831,000 after acquiring an additional 59,668 shares in the last quarter. Norden Group LLC raised its position in shares of Ares Management by 47.0% during the first quarter. Norden Group LLC now owns 3,702 shares of the asset manager's stock worth $492,000 after purchasing an additional 1,183 shares during the period. Private Advisor Group LLC raised its position in Ares Management by 6.9% in the 1st quarter. Private Advisor Group LLC now owns 2,618 shares of the asset manager's stock valued at $348,000 after buying an additional 170 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in Ares Management by 41.7% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 45,821 shares of the asset manager's stock valued at $6,033,000 after buying an additional 13,482 shares during the last quarter. Finally, BNP Paribas Financial Markets increased its position in shares of Ares Management by 26.2% during the 1st quarter. BNP Paribas Financial Markets now owns 79,639 shares of the asset manager's stock valued at $10,590,000 after purchasing an additional 16,554 shares during the last quarter. 50.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Ares Management news, insider Ryan Berry sold 57,500 shares of the business's stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $140.74, for a total transaction of $8,092,550.00. Following the sale, the insider now owns 456,702 shares in the company, valued at approximately $64,276,239.48. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Ryan Berry sold 57,500 shares of the business's stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $140.74, for a total value of $8,092,550.00. Following the completion of the transaction, the insider now owns 456,702 shares of the company's stock, valued at $64,276,239.48. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Michael J. Arougheti sold 27,120 shares of the company's stock in a transaction dated 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 completion of the transaction, the chief executive officer now directly owns 222,880 shares of the company's stock, valued at $32,466,929.60. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 622,640 shares of company stock worth $91,378,848 in the last ninety days. 1.20% of the stock is owned by insiders.

Analyst Ratings Changes

ARES has been the subject of a number of research analyst reports. UBS Group lifted their price target on Ares Management from $158.00 to $195.00 and gave the company a "buy" rating in a research report on Tuesday, October 22nd. Morgan Stanley lifted their price target on Ares Management from $136.00 to $162.00 and gave the stock an "equal weight" rating in a research note on Thursday, October 10th. Deutsche Bank Aktiengesellschaft decreased their price target on Ares Management from $134.00 to $133.00 and set a "hold" rating on the stock in a research note on Thursday, August 15th. The Goldman Sachs Group lifted their price objective on Ares Management from $145.00 to $160.00 and gave the stock a "buy" rating in a research report on Monday, September 30th. Finally, TD Cowen lifted their price target on Ares Management from $162.00 to $175.00 and gave the company a "buy" rating in a research report on Wednesday, October 9th. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $159.18.

Ares Management Trading Down 3.5 %

Shares of ARES stock traded down $5.81 on Friday, reaching $161.87. 2,488,037 shares of the company's stock were exchanged, compared to its average volume of 1,510,066. Ares Management Co. has a 52 week low of $101.44 and a 52 week high of $171.78. 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 stock has a market capitalization of $50.66 billion, a PE ratio of 84.31, a P/E/G ratio of 1.61 and a beta of 1.20. The company's fifty day simple moving average is $155.87 and its 200 day simple moving average is $145.55.

Ares Management (NYSE:ARES - Get Free Report) last issued its earnings results 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 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 analyst estimates of $860.09 million. During the same period in the previous year, the company posted $0.90 EPS. As a group, analysts forecast that Ares Management Co. will post 4.11 EPS for the current year.

Ares Management Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th will be paid a dividend of $0.93 per share. The ex-dividend date of this dividend is Tuesday, December 17th. This represents a $3.72 annualized dividend and a yield of 2.30%. Ares Management's dividend payout ratio (DPR) is 193.75%.

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.