Inscription Capital LLC Acquires Shares of 2,552 Ares Management Corporation (NYSE:ARES)

Inscription Capital LLC bought a new position in shares of Ares Management Corporation (NYSE:ARES - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 2,552 shares of the asset manager's stock, valued at approximately $374,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Transce3nd LLC purchased a new stake in shares of Ares Management in the 4th quarter valued at $29,000. Johnson Financial Group Inc. boosted its stake in shares of Ares Management by 104.8% in the 4th quarter. Johnson Financial Group Inc. now owns 170 shares of the asset manager's stock valued at $30,000 after purchasing an additional 87 shares in the last quarter. Elequin Capital LP purchased a new stake in shares of Ares Management in the 4th quarter valued at $33,000. Noble Wealth Management PBC purchased a new stake in shares of Ares Management in the 4th quarter valued at $36,000. Finally, Global Financial Private Client LLC boosted its stake in shares of Ares Management by 125.6% in the 1st quarter. Global Financial Private Client LLC now owns 264 shares of the asset manager's stock valued at $39,000 after purchasing an additional 147 shares in the last quarter. Institutional investors own 50.03% of the company's stock.

Insider Activity at Ares Management

In related news, CEO Michael J. Arougheti sold 110,845 shares of Ares Management stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $153.17, for a total transaction of $16,978,128.65. Following the completion of the transaction, the chief executive officer now directly owns 1,400,000 shares of the company's stock, valued at $214,438,000. This trade represents a 7.34% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Chairman Bennett Rosenthal sold 85,000 shares of Ares Management stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $168.79, for a total transaction of $14,347,150.00. The disclosure for this sale can be found here. Insiders sold a total of 983,990 shares of company stock valued at $163,182,482 in the last three months. Company insiders own 36.86% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Wells Fargo & Company upped their price objective on shares of Ares Management from $182.00 to $189.00 and gave the company an "overweight" rating in a research note on Friday, May 23rd. JMP Securities upped their price objective on shares of Ares Management from $165.00 to $185.00 and gave the company a "market outperform" rating in a research note on Thursday, May 8th. The Goldman Sachs Group lowered their price target on shares of Ares Management from $188.00 to $166.00 and set a "buy" rating for the company in a report on Thursday, April 3rd. Barclays upped their price target on shares of Ares Management from $142.00 to $182.00 and gave the company an "overweight" rating in a report on Tuesday, May 6th. Finally, TD Cowen lowered their price target on shares of Ares Management from $216.00 to $161.00 and set a "buy" rating for the company in a report on Wednesday, April 9th. One analyst has rated the stock with a sell rating, four have given a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, Ares Management currently has an average rating of "Moderate Buy" and a consensus price target of $174.94.

Ares Management Trading Down 0.8%

Shares of NYSE:ARES traded down $1.42 on Friday, hitting $165.93. The company had a trading volume of 2,491,584 shares, compared to its average volume of 1,426,690. The firm's 50-day simple moving average is $160.75 and its two-hundred day simple moving average is $166.78. Ares Management Corporation has a 1 year low of $110.63 and a 1 year high of $200.49. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $54.19 billion, a price-to-earnings ratio of 97.60, a P/E/G ratio of 1.30 and a beta of 1.38.

Ares Management (NYSE:ARES - Get Free Report) last posted its earnings results on Monday, May 5th. The asset manager reported $1.09 EPS for the quarter, topping the consensus estimate of $0.94 by $0.15. Ares Management had a net margin of 9.73% and a return on equity of 16.29%. The firm had revenue of $951.96 million during the quarter, compared to analysts' expectations of $914.00 million. During the same period last year, the company posted $0.80 EPS. Equities analysts anticipate that Ares Management Corporation will post 5.28 earnings per share for the current fiscal year.

Ares Management Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be given a dividend of $1.12 per share. The ex-dividend date is Monday, June 16th. This represents a $4.48 dividend on an annualized basis and a yield of 2.70%. Ares Management's dividend payout ratio (DPR) is currently 263.53%.

About Ares Management

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.