Lake Street Advisors Group LLC Sells 32,386 Shares of Ares Management Co. (NYSE:ARES)

Lake Street Advisors Group LLC reduced its stake in Ares Management Co. (NYSE:ARES) by 65.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 17,425 shares of the asset manager’s stock after selling 32,386 shares during the quarter. Lake Street Advisors Group LLC’s holdings in Ares Management were worth $2,716,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. EP Wealth Advisors LLC grew its holdings 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 buying an additional 4,996 shares during the last quarter. Norden Group LLC boosted its holdings in Ares Management by 2,695.3% during the first quarter. Norden Group LLC now owns 70,414 shares of the asset manager’s stock worth $9,364,000 after purchasing an additional 67,895 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in Ares Management by 17.7% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 397,285 shares of the asset manager’s stock worth $52,831,000 after purchasing an additional 59,668 shares during the last quarter. FORA Capital LLC purchased a new position in Ares Management during the first quarter worth about $3,434,000. Finally, Vaughan Nelson Investment Management L.P. boosted its holdings in Ares Management by 24.6% during the second quarter. Vaughan Nelson Investment Management L.P. now owns 192,634 shares of the asset manager’s stock worth $25,674,000 after purchasing an additional 38,047 shares during the last quarter. 50.03% of the stock is owned by institutional investors.

Insider Transactions at Ares Management

In related news, insider Ryan Berry sold 40,000 shares of the company’s stock in a transaction on Thursday, October 17th. The shares were sold at an average price of $167.99, for a total transaction of $6,719,600.00. Following the sale, the insider now owns 304,202 shares of the company’s stock, valued at $51,102,893.98. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, Chairman Bennett Rosenthal sold 27,172 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $145.67, for a total value of $3,958,145.24. Following the transaction, the chairman now directly owns 222,828 shares in the company, valued at approximately $32,459,354.76. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Ryan Berry sold 40,000 shares of the firm’s stock in a transaction dated Thursday, October 17th. The shares were sold at an average price of $167.99, for a total transaction of $6,719,600.00. Following the completion of the sale, the insider now owns 304,202 shares in the company, valued at $51,102,893.98. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 622,640 shares of company stock valued at $91,378,848. 1.20% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on ARES shares. JPMorgan Chase & Co. boosted their price target on shares of Ares Management from $141.00 to $143.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Redburn Atlantic initiated 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. UBS Group boosted their price target on shares of Ares Management from $158.00 to $195.00 and gave the company a “buy” rating in a research report on Tuesday. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Ares Management from $134.00 to $133.00 and set a “hold” rating on the stock in a research report on Thursday, August 15th. Finally, Wells Fargo & Company boosted their price target on shares of Ares Management from $156.00 to $172.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 9th. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $159.18.

Ares Management Stock Performance

Shares of ARES traded down $0.47 during mid-day trading on Friday, hitting $170.36. 110,251 shares of the company traded hands, compared to its average volume of 1,137,711. 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 stock has a 50-day moving average price of $152.56 and a two-hundred day moving average price of $143.69. Ares Management Co. has a 1 year low of $96.00 and a 1 year high of $171.78. The stock has a market cap of $52.78 billion, a price-to-earnings ratio of 76.61, a P/E/G ratio of 1.48 and a beta of 1.22.

Ares Management (NYSE:ARES) last announced its earnings results on Friday, August 2nd. The asset manager reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.01. The company had revenue of $788.68 million during the quarter, compared to analyst estimates of $860.09 million. Ares Management had a net margin of 12.53% and a return on equity of 20.46%. During the same period in the previous year, the business posted $0.90 earnings per share. Equities analysts anticipate that Ares Management Co. will post 4.16 earnings per share for the current year.

Ares Management Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were given a $0.93 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $3.72 dividend on an annualized basis and a dividend yield of 2.18%. Ares Management’s payout ratio is currently 166.82%.

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.