Pictet Asset Management SA Raises Stock Holdings in Ares Management Co. (NYSE:ARES)

Pictet Asset Management SA lifted its holdings in Ares Management Co. (NYSE:ARESGet Rating) by 19.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 9,471 shares of the asset manager’s stock after buying an additional 1,530 shares during the quarter. Pictet Asset Management SA’s holdings in Ares Management were worth $539,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Geneos Wealth Management Inc. raised its holdings in shares of Ares Management by 300.0% in the first quarter. Geneos Wealth Management Inc. now owns 400 shares of the asset manager’s stock worth $32,000 after buying an additional 300 shares during the period. Valley National Advisers Inc. purchased a new position in Ares Management during the 1st quarter worth $65,000. First Horizon Advisors Inc. increased its holdings in Ares Management by 377.4% during the 2nd quarter. First Horizon Advisors Inc. now owns 1,375 shares of the asset manager’s stock worth $77,000 after purchasing an additional 1,087 shares during the period. Assetmark Inc. increased its holdings in Ares Management by 368.7% during the 2nd quarter. Assetmark Inc. now owns 1,692 shares of the asset manager’s stock worth $96,000 after purchasing an additional 1,331 shares during the period. Finally, Sheaff Brock Investment Advisors LLC purchased a new position in Ares Management during the 1st quarter worth $220,000. 48.61% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ARES has been the topic of several research reports. StockNews.com initiated coverage on Ares Management in a report on Wednesday, October 12th. They set a “sell” rating on the stock. Piper Sandler reduced their price objective on Ares Management to $86.00 in a report on Tuesday, November 1st. Wells Fargo & Company raised their price objective on Ares Management from $78.00 to $81.00 and gave the stock an “overweight” rating in a report on Friday, October 28th. BMO Capital Markets downgraded 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, Barclays increased their target price on Ares Management from $80.00 to $90.00 and gave the company an “overweight” rating in a research report on Friday, October 28th. One 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, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $90.56.

Insider Transactions at Ares Management

In other news, Chairman Antony P. Ressler sold 455,971 shares of the firm’s stock in a transaction on Thursday, November 10th. The stock was sold at an average price of $84.41, for a total value of $38,488,512.11. Following the completion of the sale, the chairman now owns 224,221 shares of the company’s stock, valued at approximately $18,926,494.61. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, major shareholder Ares Management Llc purchased 200,000 shares of the stock in a transaction on Wednesday, September 28th. The stock was bought at an average price of $1.40 per share, with a total value of $280,000.00. Following the transaction, the insider now owns 48,271,580 shares in the company, valued at approximately $67,580,212. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Antony P. Ressler sold 455,971 shares of Ares Management stock in a transaction dated Thursday, November 10th. The stock was sold at an average price of $84.41, for a total value of $38,488,512.11. Following the sale, the chairman now directly owns 224,221 shares of the company’s stock, valued at approximately $18,926,494.61. The disclosure for this sale can be found here. In the last quarter, insiders acquired 1,800,000 shares of company stock valued at $2,706,000 and sold 1,138,661 shares valued at $90,804,389. Insiders own 47.38% of the company’s stock.

Ares Management Stock Up 0.7 %

Ares Management stock opened at $79.00 on Thursday. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.13 and a quick ratio of 0.13. The stock has a market capitalization of $23.24 billion, a price-to-earnings ratio of 88.77, a PEG ratio of 0.80 and a beta of 1.28. Ares Management Co. has a 1-year low of $53.15 and a 1-year high of $86.06. The business has a fifty day moving average price of $71.68 and a 200-day moving average price of $69.17.

Ares Management (NYSE:ARESGet Rating) last posted its quarterly earnings data on Thursday, October 27th. The asset manager reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.01. The firm had revenue of $609.56 million during the quarter, compared to analysts’ expectations of $636.07 million. Ares Management had a return on equity of 14.90% and a net margin of 5.08%. During the same quarter last year, the firm earned $0.62 EPS. Equities research analysts forecast that Ares Management Co. will post 3.23 EPS for the current fiscal year.

Ares Management Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 30th. Stockholders of record on Friday, December 16th will be given a $0.61 dividend. The ex-dividend date is Thursday, December 15th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 3.09%. Ares Management’s payout ratio is 274.16%.

Ares Management Profile

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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.

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

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