Prudent Man Advisors LLC Has $777,000 Position in Ares Management Co. (NYSE:ARES)

Prudent Man Advisors LLC trimmed its position in shares of Ares Management Co. (NYSE:ARES – Get Rating) by 1.8% during the first quarter, HoldingsChannel.com reports. The firm owned 9,570 shares of the asset manager’s stock after selling 173 shares during the period. Prudent Man Advisors LLC’s holdings in Ares Management were worth $777,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Beacon Investment Advisory Services Inc. lifted its position in shares of Ares Management by 1.4% in the 4th quarter. Beacon Investment Advisory Services Inc. now owns 12,742 shares of the asset manager’s stock worth $1,036,000 after purchasing an additional 170 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new position in Ares Management in the fourth quarter valued at $25,000. Xponance Inc. boosted its position in Ares Management by 2.2% during the first quarter. Xponance Inc. now owns 14,408 shares of the asset manager’s stock valued at $1,170,000 after acquiring an additional 317 shares during the last quarter. Ibex Wealth Advisors raised its position in shares of Ares Management by 0.4% in the 4th quarter. Ibex Wealth Advisors now owns 94,889 shares of the asset manager’s stock worth $7,712,000 after acquiring an additional 340 shares in the last quarter. Finally, CIBC Asset Management Inc lifted its stake in shares of Ares Management by 3.0% in the 4th quarter. CIBC Asset Management Inc now owns 11,649 shares of the asset manager’s stock valued at $947,000 after purchasing an additional 343 shares during the period. 47.42% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, General Counsel Aghili Naseem Sagati sold 7,446 shares of the company’s stock in a transaction that occurred on Wednesday, August 3rd. The shares were sold at an average price of $73.18, for a total transaction of $544,898.28. Following the sale, the general counsel now directly owns 218,082 shares in the company, valued at approximately $15,959,240.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Ares Management news, General Counsel Aghili Naseem Sagati sold 7,446 shares of Ares Management stock in a transaction dated Wednesday, August 3rd. The stock was sold at an average price of $73.18, for a total transaction of $544,898.28. Following the completion of the transaction, the general counsel now owns 218,082 shares of the company’s stock, valued at approximately $15,959,240.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Ares Management Llc purchased 20,022 shares of the firm’s stock in a transaction dated Thursday, June 2nd. The shares were bought at an average price of $8.74 per share, for a total transaction of $174,992.28. Following the completion of the transaction, the insider now owns 8,543,300 shares of the company’s stock, valued at $74,668,442. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 245,590 shares of company stock valued at $2,085,553. 49.34% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. UBS Group boosted their price target on Ares Management from $68.00 to $82.00 and gave the company a “buy” rating in a research note on Monday, August 1st. The Goldman Sachs Group decreased their price target on shares of Ares Management from $87.00 to $78.00 and set a “buy” rating for the company in a research note on Wednesday, June 29th. Morgan Stanley cut their price objective on shares of Ares Management from $90.00 to $76.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 19th. TheStreet lowered Ares Management from a “b” rating to a “c+” rating in a research report on Friday, June 3rd. Finally, Royal Bank of Canada reduced their price objective on Ares Management from $95.00 to $90.00 in a research note on Monday, May 2nd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, Ares Management has an average rating of “Moderate Buy” and a consensus target price of $88.67.

Ares Management Stock Performance

Shares of ARES opened at $73.33 on Friday. The stock has a 50 day moving average of $63.95 and a 200 day moving average of $71.18. The company has a market capitalization of $21.52 billion, a price-to-earnings ratio of 47.01, a PEG ratio of 1.02 and a beta of 1.21. Ares Management Co. has a 12 month low of $53.15 and a 12 month high of $90.08. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.57.

Ares Management Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Friday, September 16th will be paid a dividend of $0.61 per share. The ex-dividend date of this dividend is Thursday, September 15th. This represents a $2.44 annualized dividend and a dividend yield of 3.33%. Ares Management’s payout ratio is 156.41%.

Ares Management Profile

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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.