11,538 Shares in Ares Management Co. (NYSE:ARES) Bought by Point72 Asset Management L.P.

Point72 Asset Management L.P. purchased a new stake in Ares Management Co. (NYSE:ARES - Free Report) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 11,538 shares of the asset manager's stock, valued at approximately $1,798,000.

Other hedge funds have also bought and sold shares of the company. Maven Securities LTD acquired a new position in Ares Management in the 3rd quarter valued at $468,000. Morse Asset Management Inc grew its position in shares of Ares Management by 1.0% in the 3rd quarter. Morse Asset Management Inc now owns 14,085 shares of the asset manager's stock valued at $2,195,000 after buying an additional 145 shares during the last quarter. Investmark Advisory Group LLC bought a new stake in shares of Ares Management in the 3rd quarter valued at $223,000. Investment Management Corp of Ontario lifted its stake in shares of Ares Management by 51.8% in the 3rd quarter. Investment Management Corp of Ontario now owns 6,151 shares of the asset manager's stock valued at $959,000 after purchasing an additional 2,100 shares during the period. Finally, Hilltop Holdings Inc. boosted its holdings in shares of Ares Management by 7.4% during the 3rd quarter. Hilltop Holdings Inc. now owns 7,020 shares of the asset manager's stock worth $1,094,000 after buying an additional 485 shares in the last quarter. 50.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Royal Bank of Canada upped their price target on Ares Management from $170.00 to $185.00 and gave the stock an "outperform" rating in a research note on Monday, November 4th. The Goldman Sachs Group boosted 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. StockNews.com raised Ares Management from a "sell" rating to a "hold" rating in a report on Tuesday, December 3rd. JPMorgan Chase & Co. lowered their target price on shares of Ares Management from $176.00 to $174.00 and set an "overweight" rating on the stock in a report on Tuesday, November 5th. Finally, Barclays raised their price target on shares of Ares Management from $155.00 to $174.00 and gave the company an "overweight" rating in a report on Monday, October 7th. Seven 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, Ares Management has an average rating of "Hold" and an average target price of $166.36.

Ares Management Trading Up 1.2 %

NYSE:ARES traded up $2.04 during trading hours on Tuesday, hitting $177.33. The company had a trading volume of 678,319 shares, compared to its average volume of 1,154,983. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.05 and a quick ratio of 1.05. Ares Management Co. has a 52 week low of $110.41 and a 52 week high of $180.38. The company has a market capitalization of $55.51 billion, a PE ratio of 80.78, a price-to-earnings-growth ratio of 1.94 and a beta of 1.19. The stock has a 50-day moving average price of $168.29 and a 200 day moving average price of $151.74.

Ares Management (NYSE:ARES - Get Free Report) last posted its quarterly earnings data on Friday, November 1st. The asset manager reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.94 by $0.01. Ares Management had a return on equity of 19.89% and a net margin of 12.51%. The business had revenue of $1.13 billion for the quarter, compared to analysts' expectations of $833.58 million. During the same period in the previous year, the firm posted $0.83 EPS. On average, equities research analysts predict that Ares Management Co. will post 4.06 EPS for the current fiscal year.

Ares Management Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th will be given a dividend of $0.93 per share. 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 2.10%. Ares Management's dividend payout ratio (DPR) is currently 171.43%.

Insiders Place Their Bets

In other news, insider Ryan Berry sold 1,671 shares of the firm's stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $175.00, for a total value of $292,425.00. Following the transaction, the insider now owns 253,214 shares of the company's stock, valued at $44,312,450. This trade represents a 0.66 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider David B. Kaplan sold 19,775 shares of the business's stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $167.45, for a total value of $3,311,323.75. Following the completion of the transaction, the insider now owns 230,225 shares in the company, valued at $38,551,176.25. The trade was a 7.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 598,530 shares of company stock worth $100,265,260. 41.89% of the stock is currently owned by company insiders.

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.