Secure Asset Management LLC Has $1.06 Million Stock Holdings in Ares Management Co. (NYSE:ARES)

Secure Asset Management LLC increased its position in shares of Ares Management Co. (NYSE:ARES) by 3.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,798 shares of the asset manager’s stock after buying an additional 216 shares during the quarter. Secure Asset Management LLC’s holdings in Ares Management were worth $1,059,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Riverview Trust Co acquired a new stake in Ares Management during the first quarter worth about $29,000. West Oak Capital LLC grew its position in Ares Management by 66.7% during the first quarter. West Oak Capital LLC now owns 250 shares of the asset manager’s stock worth $33,000 after buying an additional 100 shares in the last quarter. J.Safra Asset Management Corp grew its position in Ares Management by 717.6% during the first quarter. J.Safra Asset Management Corp now owns 278 shares of the asset manager’s stock worth $37,000 after buying an additional 244 shares in the last quarter. Key Financial Inc acquired a new stake in Ares Management during the second quarter worth about $53,000. Finally, EntryPoint Capital LLC acquired a new stake in Ares Management during the first quarter worth about $54,000. 50.03% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Ares Management news, insider R. Kipp Deveer sold 41,676 shares of the company’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $150.21, for a total transaction of $6,260,151.96. Following the completion of the sale, the insider now owns 1,075,000 shares in the company, valued at approximately $161,475,750. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Ares Management news, insider R. Kipp Deveer sold 41,676 shares of the company’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $150.21, for a total transaction of $6,260,151.96. Following the completion of the sale, the insider now owns 1,075,000 shares in the company, valued at approximately $161,475,750. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, 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 transaction of $3,950,570.40. Following the sale, the chief executive officer now owns 222,880 shares of the company’s stock, valued at $32,466,929.60. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 624,316 shares of company stock worth $90,919,400 in the last quarter. Insiders own 1.20% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on ARES shares. UBS Group decreased their price objective on Ares Management from $160.00 to $158.00 and set a “buy” rating on the stock in a report on Wednesday, July 10th. JPMorgan Chase & Co. lifted their price objective on Ares Management from $141.00 to $143.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Morgan Stanley lifted their price objective on Ares Management from $136.00 to $162.00 and gave the company an “equal weight” rating in a report on Thursday, October 10th. Royal Bank of Canada lifted their price objective on Ares Management from $150.00 to $170.00 and gave the company an “outperform” rating in a report on Friday, October 11th. Finally, TD Cowen lifted their price objective on Ares Management from $162.00 to $175.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $155.82.

Ares Management Stock Performance

ARES stock opened at $169.97 on Friday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.05 and a quick ratio of 1.05. The company has a 50 day moving average price of $151.00 and a 200 day moving average price of $142.87. Ares Management Co. has a fifty-two week low of $96.00 and a fifty-two week high of $171.14. The stock has a market capitalization of $52.66 billion, a PE ratio of 76.22, a price-to-earnings-growth ratio of 1.48 and a beta of 1.22.

Ares Management (NYSE:ARES) last posted its quarterly earnings data on Friday, August 2nd. The asset manager reported $0.99 earnings per share for the quarter, topping 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 firm had revenue of $788.68 million during the quarter, compared to analysts’ expectations of $860.09 million. During the same quarter in the previous year, the company posted $0.90 EPS. Analysts forecast that Ares Management Co. will post 4.16 EPS for the current year.

Ares Management Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were given a $0.93 dividend. This represents a $3.72 annualized dividend and a yield of 2.19%. The ex-dividend date of this dividend was Monday, September 16th. Ares Management’s dividend payout ratio (DPR) is presently 166.82%.

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.