BayBridge Capital Group LLC Sells 115 Shares of Ares Management Co. (NYSE:ARES)

BayBridge Capital Group LLC trimmed its stake in shares of Ares Management Co. (NYSE:ARES) by 2.8% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,001 shares of the asset manager’s stock after selling 115 shares during the period. BayBridge Capital Group LLC’s holdings in Ares Management were worth $624,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of ARES. Vanguard Group Inc. increased its position in Ares Management by 1.3% in the first quarter. Vanguard Group Inc. now owns 16,599,345 shares of the asset manager’s stock worth $2,207,381,000 after purchasing an additional 206,996 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake 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 worth $674,183,000 after buying an additional 1,867,933 shares in the last quarter. LRI Investments LLC grew its stake in shares of 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 in the last quarter. American Century Companies Inc. increased its holdings in shares of Ares Management by 24.4% in the 2nd quarter. American Century Companies Inc. now owns 2,316,584 shares of the asset manager’s stock worth $308,754,000 after buying an additional 453,657 shares during the last quarter. Finally, Principal Financial Group Inc. raised its position in shares of Ares Management by 38.5% during the 2nd quarter. Principal Financial Group Inc. now owns 2,171,188 shares of the asset manager’s stock valued at $289,376,000 after buying an additional 603,676 shares in the last quarter. 50.03% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. JPMorgan Chase & Co. boosted their price objective on Ares Management from $141.00 to $143.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. The Goldman Sachs Group lifted 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. Barclays increased their price target on Ares Management from $155.00 to $174.00 and gave the company an “overweight” rating in a report on Monday, October 7th. Redburn Atlantic initiated coverage on Ares Management in a research report on Tuesday, August 27th. They issued a “neutral” rating and a $140.00 price target for the company. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on shares of Ares Management from $134.00 to $133.00 and set a “hold” rating on the stock in a research report on Thursday, August 15th. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $159.18.

Ares Management Trading Down 0.8 %

ARES stock opened at $169.50 on Friday. Ares Management Co. has a 12 month low of $96.00 and a 12 month high of $171.78. The firm’s 50-day moving average is $153.55 and its 200 day moving average is $144.12. The company has a market capitalization of $52.51 billion, a PE ratio of 76.01, a P/E/G ratio of 1.48 and a beta of 1.22. 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 (NYSE:ARES) last issued its earnings results on Friday, August 2nd. The asset manager reported $0.99 EPS for the quarter, topping analysts’ consensus estimates of $0.98 by $0.01. The business had revenue of $788.68 million for the quarter, compared to analyst estimates of $860.09 million. Ares Management had a net margin of 12.53% and a return on equity of 20.46%. During the same period last year, the company posted $0.90 earnings per share. On average, research analysts anticipate that Ares Management Co. will post 4.16 EPS for the current year.

Ares Management Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were given a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date was Monday, September 16th. Ares Management’s dividend payout ratio (DPR) is presently 166.82%.

Insiders Place Their Bets

In other news, Chairman Bennett Rosenthal sold 27,172 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $145.67, for a total transaction of $3,958,145.24. Following the transaction, the chairman now owns 222,828 shares in the company, valued at approximately $32,459,354.76. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, Chairman Bennett Rosenthal sold 27,172 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 $3,958,145.24. Following the transaction, the chairman now directly owns 222,828 shares in the company, valued at approximately $32,459,354.76. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Ryan Berry sold 10,000 shares of the company’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $142.12, for a total value of $1,421,200.00. Following the sale, the insider now owns 446,702 shares of the company’s stock, valued at approximately $63,485,288.24. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 622,640 shares of company stock worth $91,378,848. 1.20% of the stock is currently owned by company 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.