Chicago Partners Investment Group LLC Has $1.07 Million Holdings in Ares Management Co. (NYSE:ARES)

Chicago Partners Investment Group LLC increased its holdings in Ares Management Co. (NYSE:ARES) by 1.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,392 shares of the asset manager’s stock after buying an additional 89 shares during the period. Chicago Partners Investment Group LLC’s holdings in Ares Management were worth $1,070,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in the stock. J.Safra Asset Management Corp raised its holdings in Ares Management by 717.6% in the 1st quarter. J.Safra Asset Management Corp now owns 278 shares of the asset manager’s stock valued at $37,000 after acquiring an additional 244 shares in the last quarter. Eastern Bank acquired a new position in Ares Management in the third quarter valued at about $39,000. West Oak Capital LLC raised its stake in Ares Management by 40.0% in the second quarter. West Oak Capital LLC now owns 350 shares of the asset manager’s stock valued at $47,000 after purchasing an additional 100 shares in the last quarter. Key Financial Inc bought a new stake in Ares Management during the second quarter worth about $53,000. Finally, EntryPoint Capital LLC acquired a new stake in Ares Management during the first quarter worth about $54,000. 50.03% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

ARES has been the subject of several analyst reports. Redburn Atlantic began coverage on shares of Ares Management in a research report on Tuesday, August 27th. They issued a “neutral” rating and a $140.00 target price for the company. UBS Group upped their target price on Ares Management from $158.00 to $195.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Royal Bank of Canada lifted their price target on Ares Management from $150.00 to $170.00 and gave the company an “outperform” rating in a research note on Friday, October 11th. JPMorgan Chase & Co. upped their price objective on Ares Management from $141.00 to $143.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Finally, Wells Fargo & Company lifted their target price on Ares Management from $156.00 to $172.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 9th. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, Ares Management has an average rating of “Moderate Buy” and an average price target of $159.18.

Ares Management Trading Down 3.5 %

ARES opened at $161.87 on Monday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.05 and a quick ratio of 1.05. Ares Management Co. has a fifty-two week low of $101.44 and a fifty-two week high of $171.78. The company’s 50 day moving average price is $155.87 and its two-hundred day moving average price is $145.55. The firm has a market capitalization of $50.66 billion, a price-to-earnings ratio of 84.31, a PEG ratio of 1.61 and a beta of 1.20.

Ares Management (NYSE:ARES) last issued its quarterly earnings data on Friday, August 2nd. The asset manager reported $0.99 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.01. The company had revenue of $788.68 million for the quarter, compared to analysts’ expectations of $860.09 million. Ares Management had a net margin of 12.53% and a return on equity of 20.46%. During the same quarter in the previous year, the firm posted $0.90 earnings per share. As a group, research analysts predict that Ares Management Co. will post 4.11 earnings per share for the current year.

Ares Management Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th will be paid a $0.93 dividend. The ex-dividend date of this dividend is Tuesday, December 17th. This represents a $3.72 annualized dividend and a dividend yield of 2.30%. Ares Management’s payout ratio is 193.75%.

Insider Transactions at Ares Management

In other Ares Management news, CEO Michael J. Arougheti sold 27,120 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $145.67, for a total transaction of $3,950,570.40. Following the completion of the sale, the chief executive officer now owns 222,880 shares of the company’s stock, valued at approximately $32,466,929.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Ares Management news, insider Ryan Berry sold 57,500 shares of the stock in a transaction that occurred on Thursday, September 5th. The stock was 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. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Michael J. Arougheti sold 27,120 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $145.67, for a total transaction of $3,950,570.40. Following the transaction, the chief executive officer now directly owns 222,880 shares in the company, valued at approximately $32,466,929.60. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 622,640 shares of company stock worth $91,378,848 over the last ninety days. 1.20% of the stock is owned by 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.