Victory Capital Management Inc. Has $10.20 Million Stock Position in Ares Management Co. (NYSE:ARES)

Victory Capital Management Inc. grew its position in Ares Management Co. (NYSE:ARES - Free Report) by 6.5% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 65,417 shares of the asset manager's stock after buying an additional 4,000 shares during the period. Victory Capital Management Inc.'s holdings in Ares Management were worth $10,195,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in ARES. Curated Wealth Partners LLC grew its holdings in shares of Ares Management by 199.7% in the 2nd quarter. Curated Wealth Partners LLC now owns 1,658,217 shares of the asset manager's stock valued at $221,007,000 after buying an additional 3,321,434 shares during the period. LRI Investments LLC acquired a new position in shares of Ares Management in the 1st quarter valued at $264,729,000. Massachusetts Financial Services Co. MA grew its holdings in shares of Ares Management by 58.5% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 5,058,394 shares of the asset manager's stock valued at $674,183,000 after buying an additional 1,867,933 shares during the period. Lone Pine Capital LLC acquired a new position in Ares Management in the 2nd quarter worth $209,884,000. Finally, Millennium Management LLC boosted its stake in Ares Management by 722.6% in the 2nd quarter. Millennium Management LLC now owns 1,738,148 shares of the asset manager's stock worth $231,660,000 after purchasing an additional 1,526,856 shares during the period. Institutional investors and hedge funds own 50.03% of the company's stock.

Ares Management Stock Up 0.9 %

Shares of ARES opened at $171.89 on Thursday. Ares Management Co. has a 52 week low of $105.89 and a 52 week high of $175.74. The firm has a market cap of $53.81 billion, a P/E ratio of 79.21, a price-to-earnings-growth ratio of 1.82 and a beta of 1.20. The firm's 50-day simple moving average is $161.90 and its 200 day simple moving average is $148.51. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.05 and a current ratio of 1.05.

Ares Management (NYSE:ARES - Get Free Report) last announced its earnings results on Friday, November 1st. The asset manager reported $0.95 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.94 by $0.01. Ares Management had a net margin of 12.51% and a return on equity of 19.89%. The firm had revenue of $1.13 billion for the quarter, compared to analyst estimates of $833.58 million. During the same quarter in the prior year, the business posted $0.83 EPS. On average, analysts forecast that Ares Management Co. will post 4.07 earnings per share for the current year.

Ares Management Dividend Announcement

The company 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 is Tuesday, December 17th. This represents a $3.72 annualized dividend and a dividend yield of 2.16%. Ares Management's dividend payout ratio is 171.43%.

Analyst Ratings Changes

A number of brokerages recently weighed in on ARES. Wells Fargo & Company upped their target price on shares of Ares Management from $172.00 to $176.00 and gave the stock an "equal weight" rating in a research note on Monday, November 4th. Royal Bank of Canada upped their target price on shares of 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 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 note on Monday, September 30th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Ares Management from $146.00 to $150.00 and gave the stock a "hold" rating in a research note on Monday, November 11th. Finally, Barclays upped their target price on shares of Ares Management from $155.00 to $174.00 and gave the stock an "overweight" rating in a research note on Monday, October 7th. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $166.36.

Insider Buying and Selling

In other news, insider Ryan Berry sold 57,500 shares of the firm's stock in a transaction on 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 completion of the transaction, the insider now owns 456,702 shares of the company's stock, valued at approximately $64,276,239.48. This trade represents a 11.18 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Bennett Rosenthal sold 13,533 shares of Ares Management stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $145.12, for a total transaction of $1,963,908.96. Following the transaction, the chairman now directly owns 136,467 shares of the company's stock, valued at $19,804,091.04. This represents a 9.02 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 590,579 shares of company stock worth $89,737,173. Corporate insiders own 41.89% 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.