Janney Montgomery Scott LLC Has $18.88 Million Stock Holdings in Ares Management Co. (NYSE:ARES)

Janney Montgomery Scott LLC raised its stake in Ares Management Co. (NYSE:ARES) by 8.1% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 121,159 shares of the asset manager’s stock after buying an additional 9,038 shares during the period. Janney Montgomery Scott LLC’s holdings in Ares Management were worth $18,881,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ARES. BluePath Capital Management LLC boosted its stake in shares of Ares Management by 20.8% during the third quarter. BluePath Capital Management LLC now owns 5,765 shares of the asset manager’s stock valued at $898,000 after purchasing an additional 991 shares in the last quarter. Silvant Capital Management LLC acquired a new stake in Ares Management during the 3rd quarter worth approximately $5,105,000. Chicago Partners Investment Group LLC grew its holdings in Ares Management by 1.4% during the 3rd 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 during the last quarter. Phillips Wealth Planners LLC bought a new stake in Ares Management during the 3rd quarter worth approximately $209,000. Finally, Farther Finance Advisors LLC increased its position in Ares Management by 22.8% in the 3rd quarter. Farther Finance Advisors LLC now owns 5,606 shares of the asset manager’s stock valued at $874,000 after acquiring an additional 1,042 shares during the period. Institutional investors own 50.03% of the company’s stock.

Insider Buying and Selling

In other Ares Management news, 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 transaction, the insider now owns 456,702 shares in the company, valued at approximately $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 SEC, which is accessible through this hyperlink. In other Ares Management news, insider Ryan Berry sold 57,500 shares of the business’s stock in a transaction that occurred on 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 sale, the insider now directly owns 456,702 shares of the company’s stock, valued at approximately $64,276,239.48. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Michael J. Arougheti sold 27,120 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $145.67, for a total value of $3,950,570.40. Following the completion of the sale, the chief executive officer now directly owns 222,880 shares of the company’s stock, valued at approximately $32,466,929.60. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 622,640 shares of company stock worth $91,378,848 in the last ninety days. Corporate insiders own 41.89% of the company’s stock.

Ares Management Trading Up 3.0 %

ARES opened at $164.53 on Wednesday. The company has a fifty day moving average price of $156.49 and a two-hundred day moving average price of $146.00. Ares Management Co. has a 1-year low of $101.44 and a 1-year high of $171.78. The company has a market cap of $51.50 billion, a P/E ratio of 75.82, a price-to-earnings-growth ratio of 1.56 and a beta of 1.20. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.52.

Ares Management (NYSE:ARES) last issued its earnings results on Friday, November 1st. The asset manager reported $0.95 EPS for the quarter, beating analysts’ consensus estimates of $0.94 by $0.01. The business had revenue of $1.13 billion during the quarter, compared to analyst estimates of $833.58 million. Ares Management had a return on equity of 20.51% and a net margin of 12.51%. During the same period in the previous year, the company posted $0.83 EPS. Analysts predict that Ares Management Co. will post 4.11 EPS for the current fiscal year.

Ares Management Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th will be given a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a dividend yield of 2.26%. The ex-dividend date is Tuesday, December 17th. Ares Management’s payout ratio is 171.43%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. TD Cowen boosted their price objective on shares of Ares Management from $184.00 to $187.00 and gave the stock a “buy” rating in a research note on Monday. JPMorgan Chase & Co. decreased their price target on Ares Management from $176.00 to $174.00 and set an “overweight” rating for the company in a research note on Tuesday. UBS Group lifted their price objective on Ares Management from $158.00 to $195.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Royal Bank of Canada increased their target price on shares of Ares Management from $170.00 to $185.00 and gave the company an “outperform” rating in a research report on Monday. Finally, Redburn Atlantic started coverage on shares of Ares Management in a research report on Tuesday, August 27th. They issued a “neutral” rating and a $140.00 price target on the stock. Six 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 an average rating of “Moderate Buy” and a consensus target price of $166.00.

About Ares Management

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.