UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Buys 85,845 Shares of Ares Management Co. (NYSE:ARES)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Ares Management Co. (NYSE:ARES) by 11.9% in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 807,971 shares of the asset manager’s stock after purchasing an additional 85,845 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.26% of Ares Management worth $125,914,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of ARES. Curated Wealth Partners LLC boosted its position in shares of Ares Management by 199.7% during the second quarter. Curated Wealth Partners LLC now owns 1,658,217 shares of the asset manager’s stock valued at $221,007,000 after buying an additional 3,321,434 shares during the period. Massachusetts Financial Services Co. MA increased its stake in Ares Management by 58.5% in the second quarter. Massachusetts Financial Services Co. MA now owns 5,058,394 shares of the asset manager’s stock worth $674,183,000 after purchasing an additional 1,867,933 shares during the period. Lone Pine Capital LLC bought a new stake in shares of Ares Management during the second quarter worth $209,884,000. Millennium Management LLC grew its holdings in shares of Ares Management by 722.6% in the second quarter. Millennium Management LLC now owns 1,738,148 shares of the asset manager’s stock worth $231,660,000 after purchasing an additional 1,526,856 shares during the last quarter. Finally, LRI Investments LLC increased its stake in Ares Management by 49.4% in the 2nd quarter. LRI Investments LLC now owns 2,822,565 shares of the asset manager’s stock worth $376,191,000 after buying an additional 933,664 shares during the period. Hedge funds and other institutional investors own 50.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on ARES shares. Barclays upped their target price on shares of Ares Management from $155.00 to $174.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. Redburn Atlantic began coverage on Ares Management in a report on Tuesday, August 27th. They set a “neutral” rating and a $140.00 price objective on the stock. Morgan Stanley increased their price target on Ares Management from $136.00 to $162.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 10th. Royal Bank of Canada upped their price objective on shares of Ares Management from $170.00 to $185.00 and gave the stock an “outperform” rating in a research note on Monday, November 4th. Finally, Wells Fargo & Company raised their target price on shares of Ares Management from $172.00 to $176.00 and gave the company an “equal weight” rating in a research report on Monday, November 4th. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $166.36.

Ares Management Stock Up 1.1 %

Shares of ARES stock opened at $176.73 on Monday. The stock’s fifty day moving average price is $165.96 and its 200 day moving average price is $150.43. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.05 and a quick ratio of 1.05. Ares Management Co. has a 1-year low of $107.69 and a 1-year high of $180.38. The company has a market cap of $55.33 billion, a price-to-earnings ratio of 81.44, a price-to-earnings-growth ratio of 1.92 and a beta of 1.20.

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

Ares Management Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th will be given a $0.93 dividend. This represents a $3.72 annualized dividend and a dividend yield of 2.10%. The ex-dividend date of this dividend is Tuesday, December 17th. Ares Management’s payout ratio is 171.43%.

Insider Buying and Selling

In related news, insider David B. Kaplan sold 28,887 shares of the firm’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $175.82, for a total transaction of $5,078,912.34. Following the completion of the transaction, the insider now owns 87,461 shares of the company’s stock, valued at $15,377,393.02. This trade represents a 24.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Ryan Berry sold 57,500 shares of the company’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $140.74, for a total transaction of $8,092,550.00. Following the completion of the sale, the insider now directly owns 456,702 shares in the company, valued at approximately $64,276,239.48. The trade was a 11.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 602,357 shares of company stock worth $97,672,269 in the last 90 days. 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.