XTX Topco Ltd Sells 14,113 Shares of Ares Management Co. (NYSE:ARES)

XTX Topco Ltd lowered its stake in Ares Management Co. (NYSE:ARES - Free Report) by 71.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,525 shares of the asset manager's stock after selling 14,113 shares during the quarter. XTX Topco Ltd's holdings in Ares Management were worth $861,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in ARES. Massachusetts Financial Services Co. MA lifted its position in 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 worth $674,183,000 after buying an additional 1,867,933 shares during the last quarter. Lone Pine Capital LLC bought a new stake in Ares Management in the 2nd quarter worth approximately $209,884,000. Millennium Management LLC lifted its position 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 buying an additional 1,526,856 shares during the last quarter. LRI Investments LLC lifted its position in Ares Management by 49.4% in the 2nd quarter. LRI Investments LLC now owns 2,822,565 shares of the asset manager's stock worth $376,191,000 after buying an additional 933,664 shares during the last quarter. Finally, Principal Financial Group Inc. increased its stake in Ares Management by 31.3% in the 3rd quarter. Principal Financial Group Inc. now owns 2,849,737 shares of the asset manager's stock worth $444,103,000 after purchasing an additional 678,549 shares during the period. Institutional investors own 50.03% of the company's stock.

Ares Management Stock Performance

Ares Management stock traded up $6.34 during mid-day trading on Wednesday, reaching $182.45. 1,617,205 shares of the stock traded hands, compared to its average volume of 1,159,489. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.05 and a quick ratio of 1.05. The business's 50-day moving average is $169.17 and its 200-day moving average is $152.17. The stock has a market capitalization of $57.12 billion, a PE ratio of 84.08, a price-to-earnings-growth ratio of 1.94 and a beta of 1.19. Ares Management Co. has a 12-month low of $110.41 and a 12-month high of $183.87.

Ares Management (NYSE:ARES - Get Free Report) last issued its earnings results 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. The company had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $833.58 million. Ares Management had a return on equity of 19.89% and a net margin of 12.51%. During the same quarter last year, the company earned $0.83 EPS. As a group, sell-side analysts predict that Ares Management Co. will post 4.06 EPS for the current fiscal year.

Ares Management Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th will be issued a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a yield of 2.04%. The ex-dividend date is Tuesday, December 17th. Ares Management's dividend payout ratio is presently 171.43%.

Analyst Ratings Changes

ARES has been the topic of several research analyst reports. Wells Fargo & Company boosted their target price on Ares Management from $172.00 to $176.00 and gave the company an "equal weight" rating in a research note on Monday, November 4th. TD Cowen lifted their price target on Ares Management from $184.00 to $187.00 and gave the company a "buy" rating in a research report on Monday, November 4th. Barclays lifted their price target on Ares Management from $155.00 to $174.00 and gave the company an "overweight" rating in a research report on Monday, October 7th. JPMorgan Chase & Co. dropped their price target on Ares Management from $176.00 to $174.00 and set an "overweight" rating on the stock in a research report on Tuesday, November 5th. Finally, The Goldman Sachs Group boosted their target price on Ares Management from $145.00 to $160.00 and gave the stock a "buy" rating in a report on Monday, September 30th. One analyst has rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $166.36.

Insider Buying and Selling at Ares Management

In related news, insider Ryan Berry sold 5,443 shares of the business's stock in a transaction on Monday, December 9th. The stock was sold at an average price of $180.14, for a total transaction of $980,502.02. Following the completion of the transaction, the insider now owns 247,771 shares in the company, valued at $44,633,467.94. The trade was a 2.15 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Michael J. Arougheti sold 20,096 shares of the business's stock in a transaction on Friday, November 15th. The shares were sold at an average price of $167.44, for a total value of $3,364,874.24. Following the transaction, the chief executive officer now owns 229,904 shares of the company's stock, valued at approximately $38,495,125.76. The trade was a 8.04 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 719,811 shares of company stock worth $121,845,234 in the last quarter. 41.89% of the stock is owned by corporate insiders.

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.