Paragon Advisors LLC Has $2.22 Million Stock Holdings in Ares Management Co. (NYSE:ARES)

Paragon Advisors LLC increased its stake in shares of Ares Management Co. (NYSE:ARES) by 4.2% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 14,229 shares of the asset manager’s stock after buying an additional 577 shares during the period. Paragon Advisors LLC’s holdings in Ares Management were worth $2,217,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Natixis Advisors LLC lifted its position in shares of Ares Management by 13.6% during the third quarter. Natixis Advisors LLC now owns 39,601 shares of the asset manager’s stock worth $6,172,000 after purchasing an additional 4,734 shares in the last quarter. Coastline Trust Co raised its position in Ares Management by 10.6% in the 3rd quarter. Coastline Trust Co now owns 29,755 shares of the asset manager’s stock worth $4,637,000 after purchasing an additional 2,841 shares during the last quarter. CIBC Asset Management Inc lifted its holdings in Ares Management by 5.4% during the 3rd quarter. CIBC Asset Management Inc now owns 6,767 shares of the asset manager’s stock worth $1,055,000 after buying an additional 345 shares in the last quarter. Metis Global Partners LLC boosted its position in Ares Management by 9.0% in the 3rd quarter. Metis Global Partners LLC now owns 2,373 shares of the asset manager’s stock valued at $370,000 after buying an additional 195 shares during the last quarter. Finally, Huntington National Bank increased its stake in shares of Ares Management by 54.5% in the 3rd quarter. Huntington National Bank now owns 641 shares of the asset manager’s stock valued at $100,000 after buying an additional 226 shares during the period. Institutional investors own 50.03% of the company’s stock.

Insider Buying and Selling at Ares Management

In related news, Chairman Bennett Rosenthal sold 10,154 shares of the company’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $144.46, for a total value of $1,466,846.84. Following the transaction, the chairman now owns 191,508 shares in the company, valued at approximately $27,665,245.68. This represents a 5.04 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Ryan Berry sold 18,329 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $175.18, for a total value 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. This trade represents a 6.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 561,280 shares of company stock worth $83,030,436 over the last quarter. 1.20% of the stock is currently owned by insiders.

Ares Management Stock Down 1.1 %

Ares Management stock opened at $167.21 on Friday. The stock has a market capitalization of $52.34 billion, a PE ratio of 77.00, a price-to-earnings-growth ratio of 1.82 and a beta of 1.20. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.53. Ares Management Co. has a twelve month low of $101.44 and a twelve month high of $175.74. The company has a 50 day moving average of $160.74 and a 200-day moving average of $147.79.

Ares Management (NYSE:ARES) last issued its quarterly earnings results on Friday, November 1st. The asset manager reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.94 by $0.01. Ares Management had a net margin of 12.51% and a return on equity of 19.89%. The company had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $833.58 million. During the same period last year, the business earned $0.83 EPS. On average, equities research analysts anticipate that Ares Management Co. will post 4.07 EPS for the current fiscal year.

Ares Management Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th will be issued a $0.93 dividend. This represents a $3.72 annualized dividend and a dividend yield of 2.22%. The ex-dividend date is Tuesday, December 17th. Ares Management’s payout ratio is presently 171.43%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on ARES. UBS Group upped their price target on Ares Management from $158.00 to $195.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. TD Cowen upped their target price on shares of Ares Management from $184.00 to $187.00 and gave the company a “buy” rating in a research report on Monday, November 4th. Wells Fargo & Company lifted their price target on shares of Ares Management from $172.00 to $176.00 and gave the stock an “equal weight” rating in a research report on Monday, November 4th. Royal Bank of Canada increased their price objective on shares of Ares Management from $170.00 to $185.00 and gave the company an “outperform” rating in a report on Monday, November 4th. Finally, Redburn Atlantic initiated coverage on Ares Management in a research report on Tuesday, August 27th. They issued a “neutral” rating and a $140.00 price target on the stock. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $166.36.

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.