Cumberland Partners Ltd Has $8.59 Million Stock Position in Ares Management Co. (NYSE:ARES)

Cumberland Partners Ltd lifted its stake in shares of Ares Management Co. (NYSE:ARES) by 50.5% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 72,610 shares of the asset manager’s stock after purchasing an additional 24,360 shares during the quarter. Cumberland Partners Ltd’s holdings in Ares Management were worth $8,590,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of ARES. SG Americas Securities LLC grew its holdings in shares of Ares Management by 797.8% during the 3rd quarter. SG Americas Securities LLC now owns 21,995 shares of the asset manager’s stock worth $2,263,000 after purchasing an additional 19,545 shares in the last quarter. Park Place Capital Corp lifted its position in shares of Ares Management by 1,176.2% during the 3rd quarter. Park Place Capital Corp now owns 4,288 shares of the asset manager’s stock worth $441,000 after buying an additional 3,952 shares during the last quarter. Capital Asset Advisory Services LLC lifted its position in shares of Ares Management by 8.5% during the 3rd quarter. Capital Asset Advisory Services LLC now owns 3,890 shares of the asset manager’s stock worth $432,000 after buying an additional 304 shares during the last quarter. Coastline Trust Co bought a new stake in shares of Ares Management during the 3rd quarter worth $747,000. Finally, Oak Thistle LLC lifted its position in shares of Ares Management by 17.3% during the 3rd quarter. Oak Thistle LLC now owns 5,199 shares of the asset manager’s stock worth $535,000 after buying an additional 767 shares during the last quarter. 50.03% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Ares Management

In related news, CEO Michael J. Arougheti sold 74,585 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $132.97, for a total transaction of $9,917,567.45. Following the completion of the sale, the chief executive officer now owns 1,375,000 shares of the company’s stock, valued at $182,833,750. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider R. Kipp Deveer sold 80,637 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $135.25, for a total transaction of $10,906,154.25. Following the completion of the sale, the insider now owns 1,116,676 shares of the company’s stock, valued at $151,030,429. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael J. Arougheti sold 74,585 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $132.97, for a total value of $9,917,567.45. Following the sale, the chief executive officer now directly owns 1,375,000 shares of the company’s stock, valued at approximately $182,833,750. The disclosure for this sale can be found here. Insiders sold 1,494,440 shares of company stock worth $199,049,946 over the last ninety days. 47.34% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

ARES has been the subject of several recent analyst reports. Morgan Stanley upped their price objective on Ares Management from $109.00 to $118.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 24th. JMP Securities restated a “market perform” rating on shares of Ares Management in a research report on Tuesday, April 9th. Wells Fargo & Company upped their price objective on Ares Management from $112.00 to $126.00 and gave the stock an “equal weight” rating in a research report on Friday, February 9th. Barclays dropped their price objective on Ares Management from $157.00 to $153.00 and set an “overweight” rating for the company in a research report on Monday, April 8th. Finally, JPMorgan Chase & Co. increased their target price on Ares Management from $119.00 to $141.00 and gave the company an “overweight” rating in a research report on Friday, February 9th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Ares Management presently has a consensus rating of “Hold” and a consensus target price of $126.17.

Ares Management Trading Up 3.4 %

Shares of ARES traded up $4.53 during mid-day trading on Tuesday, reaching $136.54. 671,349 shares of the company were exchanged, compared to its average volume of 1,020,894. Ares Management Co. has a 52 week low of $77.97 and a 52 week high of $139.48. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.02 and a current ratio of 1.02. The stock has a market capitalization of $42.27 billion, a PE ratio of 57.13, a PEG ratio of 0.97 and a beta of 1.17. The business has a 50 day simple moving average of $133.15 and a two-hundred day simple moving average of $120.38.

Ares Management (NYSE:ARES) last issued its quarterly earnings data on Thursday, February 8th. The asset manager reported $1.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.10 by $0.11. Ares Management had a return on equity of 21.01% and a net margin of 13.06%. The company had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $862.71 million. During the same period last year, the company earned $1.21 earnings per share. On average, analysts predict that Ares Management Co. will post 4.49 earnings per share for the current fiscal year.

Ares Management Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were given a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a dividend yield of 2.72%. This is an increase from Ares Management’s previous quarterly dividend of $0.77. The ex-dividend date of this dividend was Thursday, March 14th. Ares Management’s dividend payout ratio (DPR) is 155.65%.

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.