1 week Ago By ABMN Staff
Candriam S.C.A.
lessened its holdings in Ares Management Co. ( NYSE:ARES – Free Report ) by 43.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC).
The fund owned 68,781 shares of the asset manager’s stock after selling 53,092 shares during the quarter. Candriam S.C.
A.’s holdings in Ares Management were worth $9,167,000 at the end of the most recent quarter. Several other large investors have also recently bought and sold shares of ARES.
Compass Wealth Management LLC acquired a new position in Ares Management in the first quarter valued at $28,000. Riverview Trust Co acquired a new stake in shares of Ares Management during the first quarter worth about $29,000. West Oak Capital LLC boosted its stake in shares of Ares Management by 66.
7% during the first quarter. West Oak Capital LLC now owns 250 shares of the asset manager’s stock worth $33,000 after buying an additional 100 shares during the period. Global Retirement Partners LLC boosted its stake in shares of Ares Management by 555.
0% during the first quarter. Global Retirement Partners LLC now owns 262 shares of the asset manager’s stock worth $35,000 after buying an additional 222 shares during the period. Finally, TFO Wealth Partners LLC boosted its stake in shares of Ares Management by 29,200.
0% during the fourth quarter. TFO Wealth Partners LLC now owns 293 shares of the asset manager’s stock worth $35,000 after buying an additional 292 shares during the period. Hedge funds and other institutional investors own 50.
03% of the company’s stock. Ares Management Trading Down 2.6 % Shares of Ares Management stock opened at $137.
45 on Monday. Ares Management Co. has a 12-month low of $96.
00 and a 12-month high of $155.53. The company has a current ratio of 1.
05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.52.
The stock has a market cap of $42.58 billion, a PE ratio of 61.64, a price-to-earnings-growth ratio of 1.
38 and a beta of 1.21. The company has a 50-day moving average of $143.
00 and a two-hundred day moving average of $138.27. Ares Management Dividend Announcement The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th.
Shareholders of record on Monday, September 16th will be issued a $0.93 dividend. The ex-dividend date is Monday, September 16th.
This represents a $3.72 dividend on an annualized basis and a yield of 2.71%.
Ares Management’s dividend payout ratio (DPR) is presently 166.82%. Insider Buying and Selling at Ares Management In other news, Chairman Bennett Rosenthal sold 150,000 shares of the firm’s stock in a transaction that occurred on Friday, June 21st.
The shares were sold at an average price of $131.94, for a total transaction of $19,791,000.00.
The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website . In other news, CEO Michael J. Arougheti sold 14,962 shares of the firm’s stock in a transaction that occurred on Friday, August 30th.
The shares were sold at an average price of $145.62, for a total transaction of $2,178,766.44.
Following the completion of the transaction, the chief executive officer now directly owns 1,375,000 shares of the company’s stock, valued at approximately $200,227,500. The sale was disclosed in a filing with the SEC, which is available at the SEC website . Also, Chairman Bennett Rosenthal sold 150,000 shares of the firm’s stock in a transaction that occurred on Friday, June 21st.
The stock was sold at an average price of $131.94, for a total transaction of $19,791,000.00.
The disclosure for this sale can be found here . Over the last three months, insiders sold 711,815 shares of company stock valued at $99,973,606. Corporate insiders own 1.
20% of the company’s stock. Wall Street Analysts Forecast Growth Several equities research analysts have recently weighed in on ARES shares. Barclays increased their target price on shares of Ares Management from $151.
00 to $155.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. TD Cowen increased their target price on shares of Ares Management from $158.
00 to $162.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. JPMorgan Chase & Co.
raised their price objective on shares of Ares Management from $141.00 to $143.00 and gave the company an “overweight” rating in a research 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 objective for the company.
Finally, Royal Bank of Canada restated an “outperform” rating and issued a $150.00 price objective on shares of Ares Management in a research report on Wednesday, May 22nd. One analyst has rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company.
According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $138.92.
Get Our Latest Stock Analysis on Ares Management About Ares Management ( Free Report ) 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. See Also Want to see what other hedge funds are holding ARES? Visit HoldingsChannel.
com to get the latest 13F filings and insider trades for Ares Management Co. ( NYSE:ARES – Free Report ). Receive News & Ratings for Ares Management Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ares Management and related companies with MarketBeat.
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