Bank of New York Mellon Corp Has $190.48 Million Position in Ares Management Co. (NYSE:ARES)

Bank of New York Mellon Corp lowered its position in Ares Management Co. (NYSE:ARES) by 12.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,429,152 shares of the asset manager’s stock after selling 198,289 shares during the quarter. Bank of New York Mellon Corp owned 0.46% of Ares Management worth $190,477,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in ARES. Compass Wealth Management LLC bought a new stake in Ares Management in the first quarter valued at approximately $28,000. Riverview Trust Co bought a new stake in Ares Management in the first quarter valued at approximately $29,000. West Oak Capital LLC boosted its holdings in Ares Management by 66.7% in the first quarter. West Oak Capital LLC now owns 250 shares of the asset manager’s stock valued at $33,000 after acquiring an additional 100 shares during the last quarter. Global Retirement Partners LLC boosted its holdings in Ares Management by 555.0% in the first quarter. Global Retirement Partners LLC now owns 262 shares of the asset manager’s stock valued at $35,000 after acquiring an additional 222 shares during the last quarter. Finally, TFO Wealth Partners LLC boosted its holdings in Ares Management by 29,200.0% in the fourth quarter. TFO Wealth Partners LLC now owns 293 shares of the asset manager’s stock valued at $35,000 after acquiring an additional 292 shares during the last quarter. Institutional investors and hedge funds own 50.03% of the company’s stock.

Insider Buying and Selling at Ares Management

In other news, insider R. Kipp Deveer sold 41,676 shares of the stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $150.21, for a total value of $6,260,151.96. Following the transaction, the insider now owns 1,075,000 shares in the company, valued at approximately $161,475,750. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider R. Kipp Deveer sold 41,676 shares of the stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $150.21, for a total value of $6,260,151.96. Following the completion of the sale, the insider now directly owns 1,075,000 shares of the company’s stock, valued at approximately $161,475,750. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider David B. Kaplan sold 110,341 shares of the stock in a transaction that occurred on Friday, May 31st. The shares were sold at an average price of $140.35, for a total transaction of $15,486,359.35. Following the sale, the insider now directly owns 139,659 shares of the company’s stock, valued at $19,601,140.65. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 704,477 shares of company stock worth $97,659,456. Company insiders own 1.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on ARES shares. Jefferies Financial Group cut their target price on Ares Management from $131.00 to $127.00 and set a “hold” rating on the stock in a report on Thursday, May 9th. Royal Bank of Canada reiterated an “outperform” rating and issued a $150.00 target price on shares of Ares Management in a report on Wednesday, May 22nd. TD Cowen increased their target price on Ares Management from $158.00 to $162.00 and gave the stock a “buy” rating in a report on Monday, August 5th. Deutsche Bank Aktiengesellschaft cut their target price on Ares Management from $134.00 to $133.00 and set a “hold” rating on the stock in a report on Thursday, August 15th. Finally, JPMorgan Chase & Co. raised their price objective on Ares Management from $141.00 to $143.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, Ares Management has an average rating of “Hold” and a consensus target price of $138.82.

Ares Management Stock Down 0.0 %

Shares of NYSE:ARES traded down $0.04 during midday trading on Monday, reaching $146.96. The company’s stock had a trading volume of 739,805 shares, compared to its average volume of 1,139,149. The firm has a 50 day moving average of $141.15 and a 200-day moving average of $137.66. The firm has a market capitalization of $45.53 billion, a P/E ratio of 65.58, a PEG ratio of 1.29 and a beta of 1.22. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.70. Ares Management Co. has a 12-month low of $96.00 and a 12-month high of $155.53.

Ares Management (NYSE:ARES) last announced its quarterly earnings data on Friday, August 2nd. The asset manager reported $0.99 EPS for the quarter, beating the consensus estimate of $0.98 by $0.01. Ares Management had a net margin of 12.86% and a return on equity of 21.22%. The company had revenue of $788.68 million for the quarter, compared to the consensus estimate of $860.09 million. During the same period in the prior year, the firm posted $0.90 EPS. On average, research analysts anticipate that Ares Management Co. will post 4.23 earnings per share for the current year.

Ares Management Announces Dividend

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 paid a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a yield of 2.53%. The ex-dividend date of this dividend is Monday, September 16th. Ares Management’s dividend payout ratio is currently 166.82%.

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.