Hantz Financial Services Inc. Sells 381 Shares of Ares Management Co. (NYSE:ARES)

Hantz Financial Services Inc. cut its stake in Ares Management Co. (NYSE:ARES) by 2.5% in the third quarter, HoldingsChannel reports. The fund owned 14,573 shares of the asset manager’s stock after selling 381 shares during the period. Hantz Financial Services Inc.’s holdings in Ares Management were worth $2,271,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of ARES. MetLife Investment Management LLC raised its position in Ares Management by 0.7% in the 3rd quarter. MetLife Investment Management LLC now owns 11,538 shares of the asset manager’s stock worth $1,798,000 after purchasing an additional 76 shares during the last quarter. Chicago Partners Investment Group LLC increased its stake in shares of Ares Management by 1.4% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 6,392 shares of the asset manager’s stock valued at $1,070,000 after buying an additional 89 shares during the period. Sequoia Financial Advisors LLC raised its position in shares of Ares Management by 3.9% during the third quarter. Sequoia Financial Advisors LLC now owns 2,560 shares of the asset manager’s stock worth $399,000 after acquiring an additional 95 shares during the last quarter. Whittier Trust Co. of Nevada Inc. lifted its stake in shares of Ares Management by 21.0% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 559 shares of the asset manager’s stock valued at $87,000 after acquiring an additional 97 shares during the period. Finally, West Oak Capital LLC boosted its holdings in Ares Management by 40.0% in the second quarter. West Oak Capital LLC now owns 350 shares of the asset manager’s stock valued at $47,000 after acquiring an additional 100 shares during the last quarter. 50.03% of the stock is currently owned by institutional investors and hedge funds.

Ares Management Price Performance

Shares of NYSE ARES opened at $176.73 on Friday. The company has a fifty day moving average price of $165.96 and a 200 day moving average price of $150.42. The firm has a market cap of $55.33 billion, a PE ratio of 81.44, a PEG ratio of 1.90 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 0.53. Ares Management Co. has a 1-year low of $107.69 and a 1-year high of $180.38.

Ares Management (NYSE:ARES) last posted its quarterly earnings data on Friday, November 1st. The asset manager reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.94 by $0.01. Ares Management had a return on equity of 19.89% and a net margin of 12.51%. The company had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $833.58 million. During the same period in the prior year, the firm earned $0.83 earnings per share. Research analysts predict that Ares Management Co. will post 4.06 earnings per share for the current fiscal year.

Ares Management Announces Dividend

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

Analyst Ratings Changes

A number of analysts have commented on ARES shares. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Ares Management from $146.00 to $150.00 and gave the stock a “hold” rating in a report on Monday, November 11th. 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. Redburn Atlantic initiated coverage on Ares Management in a research note on Tuesday, August 27th. They issued a “neutral” rating and a $140.00 target price on the stock. Wells Fargo & Company boosted their target price on Ares Management from $172.00 to $176.00 and gave the stock an “equal weight” rating in a research report on Monday, November 4th. Finally, Royal Bank of Canada boosted their price objective on shares of Ares Management from $170.00 to $185.00 and gave the company an “outperform” rating in a report on Monday, November 4th. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Ares Management currently has an average rating of “Moderate Buy” and a consensus target price of $166.36.

Insider Activity at Ares Management

In related 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 transaction of $8,092,550.00. Following the transaction, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider David B. Kaplan sold 28,887 shares of the 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 sale, the insider now owns 87,461 shares of the company’s stock, valued at approximately $15,377,393.02. This represents a 24.83 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 602,357 shares of company stock valued at $97,672,269. Corporate 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.