Ares Management Co. (NYSE:ARES) Shares Purchased by Sanctuary Advisors LLC

Sanctuary Advisors LLC raised its holdings in Ares Management Co. (NYSE:ARES - Free Report) by 53.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,620 shares of the asset manager's stock after purchasing an additional 3,715 shares during the quarter. Sanctuary Advisors LLC's holdings in Ares Management were worth $1,655,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Fifth Third Bancorp lifted its stake in shares of Ares Management by 1,806.7% in the second quarter. Fifth Third Bancorp now owns 13,843 shares of the asset manager's stock valued at $1,845,000 after purchasing an additional 13,117 shares during the period. &PARTNERS boosted its stake in shares of Ares Management by 97.7% during the 2nd quarter. &PARTNERS now owns 4,250 shares of the asset manager's stock worth $567,000 after acquiring an additional 2,100 shares in the last quarter. Secure Asset Management LLC purchased a new stake in shares of Ares Management during the 2nd quarter worth approximately $877,000. Premier Path Wealth Partners LLC grew its holdings in shares of Ares Management by 16.2% in the 2nd quarter. Premier Path Wealth Partners LLC now owns 2,874 shares of the asset manager's stock worth $383,000 after acquiring an additional 400 shares during the period. Finally, Everhart Financial Group Inc. increased its stake in Ares Management by 20.9% in the 2nd quarter. Everhart Financial Group Inc. now owns 4,337 shares of the asset manager's stock valued at $578,000 after purchasing an additional 751 shares in the last quarter. Institutional investors and hedge funds own 50.03% of the company's stock.

Insider Buying and Selling

In other news, insider R. Kipp Deveer sold 115,838 shares of Ares Management stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $177.83, for a total transaction of $20,599,471.54. Following the sale, the insider now owns 1,259,162 shares in the company, valued at $223,916,778.46. This trade represents a 8.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Ryan Berry sold 14,357 shares of the company's stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $180.16, for a total transaction of $2,586,557.12. Following the completion of the transaction, the insider now owns 233,214 shares of the company's stock, valued at $42,015,834.24. This trade represents a 5.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 634,167 shares of company stock valued at $109,917,647. 1.20% of the stock is currently owned by corporate insiders.

Ares Management Trading Up 2.9 %

Shares of ARES traded up $4.96 during mid-day trading on Friday, hitting $176.04. The company had a trading volume of 2,426,986 shares, compared to its average volume of 1,165,924. Ares Management Co. has a 1-year low of $112.83 and a 1-year high of $185.06. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.53. The business's 50-day simple moving average is $171.85 and its 200-day simple moving average is $153.81. The stock has a market cap of $55.11 billion, a PE ratio of 81.12, a P/E/G ratio of 1.99 and a beta of 1.19.

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

Ares Management Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th will be issued a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date of this dividend is Tuesday, December 17th. Ares Management's payout ratio is currently 171.43%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. JPMorgan Chase & Co. lowered their target price on Ares Management from $176.00 to $174.00 and set an "overweight" rating on the stock in a report on Tuesday, November 5th. TD Cowen increased their price objective on shares of Ares Management from $184.00 to $187.00 and gave the company a "buy" rating in a research note on Monday, November 4th. UBS Group raised their target price on shares of Ares Management from $158.00 to $195.00 and gave the company a "buy" rating in a report on Tuesday, October 22nd. Morgan Stanley upped their price target on shares of Ares Management from $136.00 to $162.00 and gave the company an "equal weight" rating in a report on Thursday, October 10th. Finally, The Goldman Sachs Group raised their price objective on shares of Ares Management from $145.00 to $160.00 and gave the stock a "buy" rating in a research note on Monday, September 30th. Six analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $172.33.

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.