Janney Montgomery Scott LLC Buys 1,263 Shares of Ares Management Co. (NYSE:ARES)

Janney Montgomery Scott LLC raised its stake in Ares Management Co. (NYSE:ARESGet Rating) by 10.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 13,886 shares of the asset manager’s stock after purchasing an additional 1,263 shares during the period. Janney Montgomery Scott LLC’s holdings in Ares Management were worth $860,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Vontobel Holding Ltd. increased its position in shares of Ares Management by 1.6% during the first quarter. Vontobel Holding Ltd. now owns 10,484 shares of the asset manager’s stock worth $852,000 after acquiring an additional 167 shares in the last quarter. Hsbc Holdings PLC increased its position in shares of Ares Management by 0.9% during the first quarter. Hsbc Holdings PLC now owns 27,264 shares of the asset manager’s stock worth $2,247,000 after acquiring an additional 249 shares in the last quarter. Lake Street Advisors Group LLC increased its position in shares of Ares Management by 1.1% during the second quarter. Lake Street Advisors Group LLC now owns 27,024 shares of the asset manager’s stock worth $1,537,000 after acquiring an additional 284 shares in the last quarter. Geneos Wealth Management Inc. increased its position in shares of Ares Management by 300.0% during the first quarter. Geneos Wealth Management Inc. now owns 400 shares of the asset manager’s stock worth $32,000 after acquiring an additional 300 shares in the last quarter. Finally, Capital Impact Advisors LLC increased its position in shares of Ares Management by 7.4% during the second quarter. Capital Impact Advisors LLC now owns 4,478 shares of the asset manager’s stock worth $255,000 after acquiring an additional 309 shares in the last quarter. 47.96% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

ARES has been the subject of several recent research reports. Royal Bank of Canada boosted their target price on shares of Ares Management from $83.00 to $93.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 1st. StockNews.com started coverage on shares of Ares Management in a research report on Wednesday, October 12th. They set a “sell” rating for the company. Barclays upped their price objective on shares of Ares Management from $82.00 to $87.00 and gave the stock an “overweight” rating in a research report on Thursday, January 12th. Wells Fargo & Company upped their price objective on shares of Ares Management from $78.00 to $81.00 and gave the stock an “overweight” rating in a research report on Friday, October 28th. Finally, BMO Capital Markets downgraded shares of Ares Management from an “outperform” rating to a “market perform” rating and set a $93.00 price objective for the company. in a research report on Monday, November 14th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $86.88.

Ares Management Stock Down 2.6 %

ARES opened at $75.93 on Friday. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.63. The stock has a market cap of $22.34 billion, a price-to-earnings ratio of 85.32, a PEG ratio of 0.69 and a beta of 1.29. Ares Management Co. has a twelve month low of $53.15 and a twelve month high of $86.06. The company’s 50-day moving average price is $73.34 and its two-hundred day moving average price is $71.28.

Ares Management (NYSE:ARESGet Rating) last released its earnings results on Thursday, October 27th. The asset manager reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.01. The firm had revenue of $609.56 million for the quarter, compared to analysts’ expectations 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 in the previous year, the company earned $0.62 earnings per share. As a group, equities analysts expect that Ares Management Co. will post 3.23 earnings per share for the current year.

Ares Management Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 30th. Shareholders of record on Friday, December 16th were paid a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a yield of 3.21%. The ex-dividend date was Thursday, December 15th. Ares Management’s payout ratio is 274.16%.

Insider Buying and Selling at Ares Management

In other Ares Management news, CEO Michael J. Arougheti sold 2,983 shares of the business’s stock in a transaction dated 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 filing with the SEC, which can be accessed through this hyperlink. In other Ares Management news, major shareholder Ares Management Llc purchased 330,000 shares of the company’s stock in a transaction that occurred on Friday, January 13th. The shares were bought at an average cost of $1.39 per share, for a total transaction of $458,700.00. Following the purchase, the insider now owns 51,001,580 shares of the company’s stock, valued at approximately $70,892,196.20. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 transaction of $253,614.66. Following the sale, the chief executive officer now owns 470,138 shares in the company, valued at $39,971,132.76. The disclosure for this sale can be found here. Insiders have sold a total of 1,238,661 shares of company stock worth $97,818,389 over the last three months. 47.38% of the stock is currently owned by insiders.

Ares Management Company 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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