Assenagon Asset Management S.A. Sells 75,390 Shares of Ares Management Co. (NYSE:ARES)

Assenagon Asset Management S.A. reduced its holdings in shares of Ares Management Co. (NYSE:ARES - Free Report) by 96.5% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,735 shares of the asset manager's stock after selling 75,390 shares during the quarter. Assenagon Asset Management S.A.'s holdings in Ares Management were worth $426,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Eastern Bank acquired a new stake in shares of Ares Management in the 3rd quarter valued at about $39,000. J.Safra Asset Management Corp grew its position in shares of Ares Management by 717.6% during the first 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 during the last quarter. West Oak Capital LLC increased its holdings in shares of Ares Management by 40.0% in the 2nd quarter. West Oak Capital LLC now owns 350 shares of the asset manager's stock valued at $47,000 after acquiring an additional 100 shares during the period. Key Financial Inc purchased a new stake in Ares Management in the 2nd quarter valued at $53,000. Finally, EntryPoint Capital LLC acquired a new stake in Ares Management during the 1st quarter worth $54,000. Hedge funds and other institutional investors own 50.03% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Royal Bank of Canada increased their price target on shares of Ares Management from $170.00 to $185.00 and gave the stock an "outperform" rating in a report on Monday. Deutsche Bank Aktiengesellschaft cut their price objective on Ares Management from $148.00 to $146.00 and set a "hold" rating for the company in a research report on Monday. UBS Group upped their price target on shares of Ares Management from $158.00 to $195.00 and gave the stock a "buy" rating in a research note on Tuesday, October 22nd. Barclays raised their price objective on shares of Ares Management from $155.00 to $174.00 and gave the company an "overweight" rating in a research note on Monday, October 7th. Finally, The Goldman Sachs Group upped their target price on shares of Ares Management from $145.00 to $160.00 and gave the stock a "buy" rating in a research report on Monday, September 30th. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $163.18.

Ares Management Stock Down 1.4 %

ARES traded down $2.19 during trading on Monday, hitting $159.68. The company had a trading volume of 1,400,106 shares, compared to its average volume of 1,152,800. Ares Management Co. has a 1-year low of $101.44 and a 1-year high of $171.78. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.05 and a quick ratio of 1.05. The company has a market cap of $49.98 billion, a PE ratio of 73.59, a P/E/G ratio of 1.61 and a beta of 1.20. The business has a 50-day moving average of $156.13 and a 200-day moving average of $145.76.

Ares Management (NYSE:ARES - Get Free Report) last released its earnings results on Friday, August 2nd. The asset manager reported $0.99 EPS for the quarter, topping analysts' consensus estimates of $0.98 by $0.01. The company had revenue of $788.68 million for the quarter, compared to the consensus estimate of $860.09 million. Ares Management had a return on equity of 20.46% and a net margin of 12.53%. During the same quarter last year, the business posted $0.90 EPS. As a group, analysts forecast that Ares Management Co. will post 4.11 earnings per share for the current year.

Ares Management Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th will be issued a $0.93 dividend. The ex-dividend date of this dividend is Tuesday, December 17th. This represents a $3.72 dividend on an annualized basis and a yield of 2.33%. Ares Management's dividend payout ratio is currently 171.43%.

Insider Buying and Selling at Ares Management

In other Ares Management news, insider Ryan Berry sold 57,500 shares of the firm's stock in a transaction on 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 sale, the insider now directly owns 456,702 shares in the company, valued at approximately $64,276,239.48. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Ares Management news, insider David B. Kaplan sold 19,262 shares of the business's stock in a transaction on Monday, August 26th. The stock was sold at an average price of $146.74, for a total transaction of $2,826,505.88. Following the completion of the transaction, the insider now owns 81,287 shares in the company, valued at approximately $11,928,054.38. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Ryan Berry sold 57,500 shares of the firm's stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $140.74, for a total transaction of $8,092,550.00. Following the transaction, the insider now directly 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 disclosure for this sale can be found here. Insiders sold a total of 622,640 shares of company stock worth $91,378,848 over the last ninety days. Company insiders own 1.20% of the company's stock.

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.