Ares Management Co. (NYSE:ARES) Position Raised by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Ares Management Co. (NYSE:ARES) by 2.1% in the third quarter, HoldingsChannel.com reports. The firm owned 35,014 shares of the asset manager’s stock after buying an additional 736 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Ares Management were worth $5,457,000 at the end of the most recent reporting period.

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

NYSE ARES opened at $173.94 on Tuesday. The company has a 50 day simple moving average of $166.32 and a 200-day simple moving average of $150.62. Ares Management Co. has a 52-week low of $107.69 and a 52-week high of $180.38. The firm has a market capitalization of $54.45 billion, a price-to-earnings ratio of 80.16, a price-to-earnings-growth ratio of 1.92 and a beta of 1.20. 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 (NYSE:ARES) last issued its earnings results on Friday, November 1st. The asset manager reported $0.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.94 by $0.01. Ares Management had a net margin of 12.51% and a return on equity of 19.89%. The company had revenue of $1.13 billion during the quarter, compared to analyst estimates of $833.58 million. During the same quarter last year, the business posted $0.83 EPS. Equities research analysts predict 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. Shareholders of record on Tuesday, December 17th will be paid a $0.93 dividend. The ex-dividend date of this dividend is Tuesday, December 17th. This represents a $3.72 dividend on an annualized basis and a yield of 2.14%. Ares Management’s dividend payout ratio (DPR) is currently 171.43%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on ARES shares. Barclays lifted their price target on shares of Ares Management from $155.00 to $174.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. The Goldman Sachs Group boosted their target price on Ares Management from $145.00 to $160.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Redburn Atlantic began coverage on Ares Management in a research report on Tuesday, August 27th. They issued a “neutral” rating and a $140.00 price target for the company. Royal Bank of Canada boosted their price objective on Ares Management from $170.00 to $185.00 and gave the stock an “outperform” rating in a report 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 stock an “equal weight” rating in a report on Monday, November 4th. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, Ares Management presently has a consensus rating of “Moderate Buy” and a consensus target price of $166.36.

Insiders Place Their Bets

In related news, CEO Michael J. Arougheti sold 20,096 shares of Ares Management stock in a transaction on Friday, November 15th. The shares were sold at an average price of $167.44, for a total value of $3,364,874.24. Following the completion of the sale, the chief executive officer now owns 229,904 shares of the company’s stock, valued at approximately $38,495,125.76. The trade was a 8.04 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Ryan Berry sold 57,500 shares of the stock in a transaction 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 transaction, the insider now directly owns 456,702 shares in the company, valued at $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 have sold a total of 666,030 shares of company stock valued at $109,779,010 in the last three months. Insiders own 1.20% of the company’s stock.

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.