Gradient Investments LLC Sells 6,266 Shares of Ares Management Co. (NYSE:ARES)

Gradient Investments LLC lowered its holdings in Ares Management Co. (NYSE:ARES) by 5.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 115,922 shares of the asset manager’s stock after selling 6,266 shares during the period. Gradient Investments LLC’s holdings in Ares Management were worth $15,450,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of ARES. Compass Wealth Management LLC bought a new stake in shares of Ares Management in the 1st quarter worth approximately $28,000. Riverview Trust Co purchased a new position in shares of Ares Management during the 1st quarter valued at $29,000. West Oak Capital LLC grew its stake in shares of Ares Management by 66.7% during the 1st quarter. West Oak Capital LLC now owns 250 shares of the asset manager’s stock worth $33,000 after acquiring an additional 100 shares during the period. Global Retirement Partners LLC increased its holdings in Ares Management by 555.0% in the 1st quarter. Global Retirement Partners LLC now owns 262 shares of the asset manager’s stock worth $35,000 after acquiring an additional 222 shares during the last quarter. Finally, TFO Wealth Partners LLC raised its stake in Ares Management by 29,200.0% in the 4th quarter. TFO Wealth Partners LLC now owns 293 shares of the asset manager’s stock valued at $35,000 after acquiring an additional 292 shares during the period. Hedge funds and other institutional investors own 50.03% of the company’s stock.

Analyst Ratings Changes

ARES has been the subject of a number of recent research reports. Jefferies Financial Group reduced their price objective on shares of Ares Management from $131.00 to $127.00 and set a “hold” rating for the company in a research note on Thursday, May 9th. Barclays upped their price target on shares of Ares Management from $151.00 to $155.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. TD Cowen lifted their price objective on Ares Management from $158.00 to $162.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Deutsche Bank Aktiengesellschaft cut their price objective on Ares Management from $134.00 to $133.00 and set a “hold” rating for the company in a report on Thursday. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $150.00 price target on shares of Ares Management in a report on Wednesday, May 22nd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $138.82.

Insiders Place Their Bets

In other Ares Management news, Chairman Bennett Rosenthal sold 150,000 shares of the company’s stock in a transaction on Friday, June 21st. The shares were sold at an average price of $131.94, for a total value of $19,791,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Ares Management news, Chairman Bennett Rosenthal sold 150,000 shares of the company’s stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $131.94, for a total transaction of $19,791,000.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Judy D. Olian sold 3,417 shares of the firm’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of $134.00, for a total value of $457,878.00. Following the transaction, the director now directly owns 27,312 shares of the company’s stock, valued at approximately $3,659,808. The disclosure for this sale can be found here. In the last 90 days, insiders sold 545,093 shares of company stock worth $74,553,444. 1.20% of the stock is currently owned by company insiders.

Ares Management Trading Down 0.4 %

Shares of ARES traded down $0.60 during trading hours on Friday, hitting $145.00. The company had a trading volume of 1,067,344 shares, compared to its average volume of 1,150,072. The firm has a market cap of $44.92 billion, a P/E ratio of 65.02, a P/E/G ratio of 1.29 and a beta of 1.22. Ares Management Co. has a 52-week low of $96.00 and a 52-week high of $155.53. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.70. The stock’s 50 day moving average price is $140.19 and its 200 day moving average price is $136.78.

Ares Management (NYSE:ARES) last released its quarterly earnings data on Friday, August 2nd. The asset manager reported $0.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.98 by $0.01. The firm had revenue of $788.68 million for the quarter, compared to analysts’ expectations of $860.09 million. Ares Management had a net margin of 12.86% and a return on equity of 21.22%. During the same quarter in the previous year, the company earned $0.90 earnings per share. On average, research analysts predict that Ares Management Co. will post 4.23 EPS for the current year.

Ares Management Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be given a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a yield of 2.57%. The ex-dividend date of this dividend is Monday, September 16th. Ares Management’s payout ratio is 166.82%.

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.