Fulcrum Capital LLC Sells 298 Shares of Ares Management Co. (NYSE:ARES)

Fulcrum Capital LLC decreased its stake in shares of Ares Management Co. (NYSE:ARES) by 11.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,198 shares of the asset manager’s stock after selling 298 shares during the period. Fulcrum Capital LLC’s holdings in Ares Management were worth $343,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. EP Wealth Advisors LLC lifted its stake in shares of Ares Management by 32.5% during the first quarter. EP Wealth Advisors LLC now owns 20,345 shares of the asset manager’s stock valued at $2,705,000 after acquiring an additional 4,996 shares during the period. Norden Group LLC boosted its stake in shares of Ares Management by 2,695.3% in the 1st quarter. Norden Group LLC now owns 70,414 shares of the asset manager’s stock valued at $9,364,000 after purchasing an additional 67,895 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its position in shares of Ares Management by 17.7% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 397,285 shares of the asset manager’s stock worth $52,831,000 after buying an additional 59,668 shares during the period. FORA Capital LLC acquired a new stake in shares of Ares Management during the 1st quarter worth approximately $3,434,000. Finally, Vaughan Nelson Investment Management L.P. lifted its holdings in Ares Management by 24.6% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 192,634 shares of the asset manager’s stock valued at $25,674,000 after buying an additional 38,047 shares during the period. Institutional investors own 50.03% of the company’s stock.

Ares Management Price Performance

Shares of ARES opened at $167.31 on Thursday. The stock has a 50 day simple moving average of $152.56 and a 200 day simple moving average of $143.69. Ares Management Co. has a 52-week low of $96.00 and a 52-week high of $171.76. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.05 and a current ratio of 1.05. The firm has a market capitalization of $51.84 billion, a PE ratio of 75.03, a P/E/G ratio of 1.48 and a beta of 1.22.

Ares Management (NYSE:ARES) last released its quarterly earnings results on Friday, August 2nd. The asset manager reported $0.99 earnings per share 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 analysts’ expectations of $860.09 million. During the same quarter in the prior year, the company earned $0.90 earnings per share. Sell-side analysts predict that Ares Management Co. will post 4.16 EPS for the current fiscal year.

Ares Management Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were issued a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date of this dividend was Monday, September 16th. Ares Management’s dividend payout ratio (DPR) is presently 166.82%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on ARES shares. Royal Bank of Canada lifted their target price on shares of Ares Management from $150.00 to $170.00 and gave the stock an “outperform” rating in a report on Friday, October 11th. The Goldman Sachs Group lifted their price objective on Ares Management from $145.00 to $160.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. TD Cowen upped 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. Barclays raised their target price on Ares Management from $155.00 to $174.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. Finally, JPMorgan Chase & Co. upped their price target on Ares Management from $141.00 to $143.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $159.18.

Insider Buying and Selling at Ares Management

In other news, insider Ryan Berry sold 57,500 shares of the company’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $140.74, for a total transaction of $8,092,550.00. Following the completion of the transaction, the insider now directly owns 456,702 shares of the company’s stock, valued at $64,276,239.48. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Ryan Berry sold 57,500 shares of the business’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $140.74, for a total value of $8,092,550.00. Following the sale, the insider now owns 456,702 shares of the company’s stock, valued at $64,276,239.48. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Chairman Bennett Rosenthal sold 10,154 shares of the stock in a transaction on Monday, August 19th. The stock was sold at an average price of $144.46, for a total transaction of $1,466,846.84. Following the transaction, the chairman now owns 191,508 shares of the company’s stock, valued at $27,665,245.68. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 622,640 shares of company stock valued at $91,378,848 in the last 90 days. 1.20% of the stock is currently owned by company insiders.

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.