Quilter Plc Sells 3,054 Shares of Ares Management Co. (NYSE:ARES)

Quilter Plc cut its position in shares of Ares Management Co. (NYSE:ARES) by 0.5% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 638,034 shares of the asset manager’s stock after selling 3,054 shares during the quarter. Ares Management comprises 1.9% of Quilter Plc’s investment portfolio, making the stock its 16th biggest holding. Quilter Plc owned approximately 0.21% of Ares Management worth $85,037,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Compass Wealth Management LLC bought a new position in shares of Ares Management during the first quarter valued at approximately $28,000. Riverview Trust Co bought a new position in Ares Management during the 1st quarter valued at approximately $29,000. West Oak Capital LLC raised its stake in Ares Management by 66.7% during the first quarter. West Oak Capital LLC now owns 250 shares of the asset manager’s stock valued at $33,000 after buying an additional 100 shares during the last quarter. Global Retirement Partners LLC boosted its holdings in Ares Management by 555.0% in the first quarter. Global Retirement Partners LLC now owns 262 shares of the asset manager’s stock worth $35,000 after acquiring an additional 222 shares in the last quarter. Finally, J.Safra Asset Management Corp grew its stake in shares of Ares Management by 717.6% in the first quarter. J.Safra Asset Management Corp now owns 278 shares of the asset manager’s stock worth $37,000 after acquiring an additional 244 shares during the last quarter. 50.03% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Wells Fargo & Company assumed coverage on Ares Management in a research report on Thursday. They issued an “equal weight” rating and a $156.00 price target for the company. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Ares Management from $134.00 to $133.00 and set a “hold” rating on the stock in a research note on Thursday, August 15th. Redburn Atlantic began coverage on shares of Ares Management in a research report on Tuesday, August 27th. They set a “neutral” rating and a $140.00 price target for the company. UBS Group cut their target price on Ares Management from $160.00 to $158.00 and set a “buy” rating on the stock in a research note on Wednesday, July 10th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $150.00 price target on shares of Ares Management in a research note on Wednesday, May 22nd. One analyst has rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $141.42.

Ares Management Trading Up 2.5 %

Shares of NYSE:ARES opened at $147.40 on Friday. The stock’s 50-day simple moving average is $143.52 and its two-hundred day simple moving average is $138.60. The stock has a market capitalization of $46.13 billion, a price-to-earnings ratio of 66.10, a PEG ratio of 1.33 and a beta of 1.21. Ares Management Co. has a 52-week low of $96.00 and a 52-week high of $155.53. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.05 and a current ratio of 1.05.

Ares Management (NYSE:ARES) last announced its earnings results on Friday, August 2nd. The asset manager reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.01. Ares Management had a net margin of 12.53% and a return on equity of 20.46%. The company had revenue of $788.68 million during the quarter, compared to analyst estimates of $860.09 million. During the same period in the previous year, the business posted $0.90 earnings per share. Analysts expect that Ares Management Co. will post 4.15 EPS for the current year.

Ares Management Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be issued a $0.93 dividend. The ex-dividend date of this dividend is Monday, September 16th. This represents a $3.72 dividend on an annualized basis and a yield of 2.52%. Ares Management’s dividend payout ratio is currently 166.82%.

Insider Activity at Ares Management

In other Ares Management news, insider R. Kipp Deveer sold 41,676 shares of the company’s stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $150.21, for a total value of $6,260,151.96. Following the completion of the sale, the insider now owns 1,075,000 shares in the company, valued at $161,475,750. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, CEO Michael J. Arougheti sold 27,120 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $145.67, for a total value of $3,950,570.40. Following the completion of the transaction, the chief executive officer now owns 222,880 shares of the company’s stock, valued at approximately $32,466,929.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider R. Kipp Deveer sold 41,676 shares of the stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $150.21, for a total value of $6,260,151.96. Following the completion of the sale, the insider now owns 1,075,000 shares of the company’s stock, valued at approximately $161,475,750. The disclosure for this sale can be found here. Over the last three months, insiders have sold 779,315 shares of company stock worth $109,487,356. Corporate insiders own 1.20% of the company’s stock.

Ares Management 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.