M&T Bank Corp Decreases Holdings in Ares Management Co. (NYSE:ARES)

M&T Bank Corp reduced its position in Ares Management Co. (NYSE:ARES) by 1.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 18,113 shares of the asset manager’s stock after selling 345 shares during the quarter. M&T Bank Corp’s holdings in Ares Management were worth $2,822,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. MetLife Investment Management LLC grew its stake in Ares Management by 0.7% during the 3rd quarter. MetLife Investment Management LLC now owns 11,538 shares of the asset manager’s stock worth $1,798,000 after buying an additional 76 shares during the last quarter. Chicago Partners Investment Group LLC boosted its holdings in Ares Management by 1.4% in the third quarter. Chicago Partners Investment Group LLC now owns 6,392 shares of the asset manager’s stock worth $1,070,000 after acquiring an additional 89 shares in the last quarter. Sequoia Financial Advisors LLC grew its stake in shares of Ares Management by 3.9% during the third quarter. Sequoia Financial Advisors LLC now owns 2,560 shares of the asset manager’s stock worth $399,000 after acquiring an additional 95 shares during the last quarter. Whittier Trust Co. of Nevada Inc. increased its holdings in shares of Ares Management by 21.0% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 559 shares of the asset manager’s stock valued at $87,000 after acquiring an additional 97 shares in the last quarter. Finally, West Oak Capital LLC raised its position in shares of Ares Management by 40.0% in the 2nd quarter. West Oak Capital LLC now owns 350 shares of the asset manager’s stock valued at $47,000 after purchasing an additional 100 shares during the last quarter. 50.03% of the stock is owned by institutional investors and hedge funds.

Ares Management Stock Down 0.2 %

ARES stock opened at $182.39 on Friday. Ares Management Co. has a 52 week low of $112.83 and a 52 week high of $185.06. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.53. The firm has a 50-day simple moving average of $169.68 and a 200-day simple moving average of $152.38. The stock has a market capitalization of $57.10 billion, a P/E ratio of 85.04, a P/E/G ratio of 1.99 and a beta of 1.19.

Ares Management (NYSE:ARES) last posted its quarterly earnings data on Friday, November 1st. The asset manager reported $0.95 EPS for the quarter, topping the consensus estimate of $0.94 by $0.01. Ares Management had a return on equity of 19.89% and a net margin of 12.51%. The company had revenue of $1.13 billion during the quarter, compared to analyst estimates of $833.58 million. During the same period in the previous year, the business earned $0.83 EPS. Equities analysts forecast that Ares Management Co. will post 4.06 earnings per share for the current fiscal year.

Ares Management Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th will be issued a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a dividend yield of 2.04%. The ex-dividend date is Tuesday, December 17th. Ares Management’s payout ratio is 171.43%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on ARES shares. Barclays upped their target price on Ares Management from $155.00 to $174.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. Royal Bank of Canada raised their price objective on Ares Management from $170.00 to $185.00 and gave the stock an “outperform” rating in a research note on Monday, November 4th. TD Cowen upped their target price on Ares Management from $184.00 to $187.00 and gave the company a “buy” rating in a research report on Monday, November 4th. Morgan Stanley raised their price target on shares of Ares Management from $136.00 to $162.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 10th. Finally, Redburn Atlantic assumed 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. One analyst has rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $169.64.

Insider Activity

In related news, insider Ryan Berry sold 12,500 shares of the stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $148.42, for a total value of $1,855,250.00. Following the completion of the sale, the insider now owns 414,202 shares of the company’s stock, valued at approximately $61,475,860.84. This trade represents a 2.93 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider R. Kipp Deveer sold 115,838 shares of the business’s stock in a transaction on Friday, December 6th. The stock was sold at an average price of $177.83, for a total value of $20,599,471.54. Following the transaction, the insider now directly owns 1,259,162 shares in the company, valued at $223,916,778.46. This trade represents a 8.42 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 659,167 shares of company stock worth $113,702,897 over the last three months. 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.