Bridges Investment Management Inc. Has $350,000 Holdings in Ares Management Co. (NYSE:ARES)

Bridges Investment Management Inc. grew its position in Ares Management Co. (NYSE:ARES) by 9.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,246 shares of the asset manager’s stock after buying an additional 195 shares during the quarter. Bridges Investment Management Inc.’s holdings in Ares Management were worth $350,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Private Advisor Group LLC boosted its position in shares of Ares Management by 6.9% in the first quarter. Private Advisor Group LLC now owns 2,618 shares of the asset manager’s stock worth $348,000 after buying an additional 170 shares during the period. GSA Capital Partners LLP acquired a new stake in Ares Management during the 1st quarter worth about $522,000. Empowered Funds LLC grew its stake in Ares Management by 18.0% during the 1st quarter. Empowered Funds LLC now owns 34,267 shares of the asset manager’s stock valued at $4,557,000 after acquiring an additional 5,232 shares in the last quarter. Wealthspire Advisors LLC acquired a new position in shares of Ares Management in the 1st quarter valued at about $237,000. Finally, Forsta AP Fonden lifted its position in shares of Ares Management by 20.4% in the first quarter. Forsta AP Fonden now owns 39,000 shares of the asset manager’s stock worth $5,186,000 after purchasing an additional 6,600 shares in the last quarter. 50.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Redburn Atlantic started coverage on shares of Ares Management in a research note on Tuesday, August 27th. They issued a “neutral” rating and a $140.00 price objective on the stock. The Goldman Sachs Group upped their price target on shares of Ares Management from $145.00 to $160.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Deutsche Bank Aktiengesellschaft reduced their price objective on Ares Management from $148.00 to $146.00 and set a “hold” rating for the company in a research report on Monday, November 4th. Barclays upped their target price on Ares Management from $155.00 to $174.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Finally, Royal Bank of Canada lifted their price target on Ares Management from $170.00 to $185.00 and gave the company an “outperform” rating in a report on Monday, November 4th. Six analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, Ares Management presently has an average rating of “Moderate Buy” and an average target price of $166.00.

Ares Management Stock Up 1.3 %

Shares of Ares Management stock opened at $170.38 on Friday. Ares Management Co. has a 12-month low of $101.44 and a 12-month high of $175.74. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.52. The stock has a 50 day moving average price of $157.99 and a two-hundred day moving average price of $146.61. The stock has a market capitalization of $53.33 billion, a P/E ratio of 78.52, a PEG ratio of 1.90 and a beta of 1.20.

Ares Management (NYSE:ARES) last posted its quarterly earnings data on Friday, November 1st. The asset manager reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.94 by $0.01. The business had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $833.58 million. Ares Management had a net margin of 12.51% and a return on equity of 20.51%. During the same period in the prior year, the firm earned $0.83 EPS. Equities analysts expect that Ares Management Co. will post 4.06 earnings per share for the current year.

Ares Management Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th will be paid a $0.93 dividend. The ex-dividend date is Tuesday, December 17th. This represents a $3.72 dividend on an annualized basis and a dividend yield of 2.18%. Ares Management’s payout ratio is presently 171.43%.

Insider Transactions at Ares Management

In other Ares Management news, insider David B. Kaplan sold 27,068 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $145.67, for a total value of $3,942,995.56. Following the sale, the insider now owns 222,932 shares of the company’s stock, valued at $32,474,504.44. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Ares Management news, insider David B. Kaplan sold 27,068 shares of the stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $145.67, for a total value of $3,942,995.56. Following the completion of the sale, the insider now directly owns 222,932 shares of the company’s stock, valued at $32,474,504.44. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Ryan Berry sold 18,329 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $175.18, for a total transaction of $3,210,874.22. Following the transaction, the insider now owns 254,885 shares in the company, valued at approximately $44,650,754.30. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 640,969 shares of company stock worth $94,589,722. Company insiders own 1.20% of the company’s stock.

Ares Management Company Profile

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.