Baird Financial Group Inc. Sells 940 Shares of Ares Management Co. (NYSE:ARES)

Baird Financial Group Inc. reduced its position in shares of Ares Management Co. (NYSE:ARESGet Rating) by 10.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,891 shares of the asset manager’s stock after selling 940 shares during the period. Baird Financial Group Inc.’s holdings in Ares Management were worth $449,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of ARES. Brinker Capital Investments LLC grew its position in Ares Management by 54.0% in the second quarter. Brinker Capital Investments LLC now owns 46,242 shares of the asset manager’s stock valued at $2,629,000 after purchasing an additional 16,215 shares in the last quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH bought a new position in shares of Ares Management in the 2nd quarter worth about $34,748,000. Stratos Wealth Partners LTD. increased its position in Ares Management by 1.3% in the 2nd quarter. Stratos Wealth Partners LTD. now owns 52,419 shares of the asset manager’s stock valued at $2,981,000 after buying an additional 684 shares in the last quarter. Valley National Advisers Inc. purchased a new position in Ares Management during the 1st quarter worth $65,000. Finally, First Horizon Advisors Inc. grew its stake in shares of Ares Management by 377.4% in the 2nd quarter. First Horizon Advisors Inc. now owns 1,375 shares of the asset manager’s stock worth $77,000 after acquiring an additional 1,087 shares in the last quarter. 48.61% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

ARES has been the topic of several research reports. UBS Group lifted their price objective on shares of Ares Management from $78.00 to $95.00 and gave the stock a “buy” rating in a research report on Tuesday, November 15th. Wells Fargo & Company upped their price target on Ares Management from $78.00 to $81.00 and gave the company an “overweight” rating in a research report on Friday, October 28th. Royal Bank of Canada lifted their price objective on Ares Management from $83.00 to $93.00 and gave the stock an “outperform” rating in a report on Tuesday, November 1st. BMO Capital Markets downgraded shares of Ares Management from an “outperform” rating to a “market perform” rating and set a $93.00 price objective on the stock. in a report on Monday, November 14th. Finally, Morgan Stanley increased their target price on shares of Ares Management from $76.00 to $82.00 and gave the stock an “equal weight” rating in a research report on Monday, October 31st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Ares Management has an average rating of “Moderate Buy” and an average target price of $90.56.

Ares Management Price Performance

Shares of NYSE:ARES opened at $77.64 on Tuesday. The company has a 50 day moving average of $71.59 and a 200 day moving average of $69.03. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.63. The stock has a market cap of $22.84 billion, a P/E ratio of 87.24, a P/E/G ratio of 0.79 and a beta of 1.28. Ares Management Co. has a 12 month low of $53.15 and a 12 month high of $89.25.

Ares Management (NYSE:ARESGet Rating) last announced its quarterly earnings results on Thursday, October 27th. The asset manager reported $0.75 EPS for the quarter, beating the consensus estimate of $0.74 by $0.01. The firm had revenue of $609.56 million during the quarter, compared to the consensus estimate of $636.07 million. Ares Management had a net margin of 5.08% and a return on equity of 14.90%. During the same period last year, the firm earned $0.62 EPS. As a group, sell-side analysts forecast that Ares Management Co. will post 3.23 EPS for the current fiscal year.

Ares Management Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 30th. Shareholders of record on Friday, December 16th will be issued a $0.61 dividend. The ex-dividend date is Thursday, December 15th. This represents a $2.44 annualized dividend and a dividend yield of 3.14%. Ares Management’s payout ratio is currently 274.16%.

Insider Buying and Selling at Ares Management

In related news, CEO Michael J. Arougheti sold 2,983 shares of the company’s stock in a transaction that occurred on Thursday, November 10th. The shares were sold at an average price of $85.02, for a total value of $253,614.66. Following the transaction, the chief executive officer now directly owns 470,138 shares in the company, valued at $39,971,132.76. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Ares Management news, General Counsel Aghili Naseem Sagati sold 15,000 shares of Ares Management stock in a transaction dated Thursday, November 10th. The stock was sold at an average price of $84.92, for a total transaction of $1,273,800.00. Following the completion of the sale, the general counsel now owns 203,082 shares of the company’s stock, valued at $17,245,723.44. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Michael J. Arougheti sold 2,983 shares of the company’s stock in a transaction dated Thursday, November 10th. The stock was sold at an average price of $85.02, for a total value of $253,614.66. Following the completion of the transaction, the chief executive officer now owns 470,138 shares of the company’s stock, valued at $39,971,132.76. The disclosure for this sale can be found here. In the last 90 days, insiders have acquired 1,800,000 shares of company stock valued at $2,706,000 and have sold 1,138,661 shares valued at $90,804,389. Insiders own 47.38% of the company’s stock.

About Ares Management

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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.

See Also

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Institutional Ownership by Quarter for Ares Management (NYSE:ARES)

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