2,552 Shares in Ares Management Corporation (NYSE:ARES) Purchased by Inscription Capital LLC

Inscription Capital LLC bought a new stake in shares of Ares Management Corporation (NYSE:ARES - Free Report) in the first quarter, according to its most recent Form 13F filing with the SEC. The fund bought 2,552 shares of the asset manager's stock, valued at approximately $374,000.

Several other large investors also recently made changes to their positions in ARES. Transce3nd LLC bought a new stake in Ares Management during the 4th quarter valued at $29,000. Johnson Financial Group Inc. increased its holdings in shares of Ares Management by 104.8% during the fourth 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 during the period. Elequin Capital LP bought a new stake in shares of Ares Management during the 4th quarter worth about $33,000. Noble Wealth Management PBC bought a new stake in Ares Management during the fourth quarter worth approximately $36,000. Finally, Global Financial Private Client LLC raised 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 worth $39,000 after buying an additional 147 shares in the last quarter. Institutional investors and hedge funds own 50.03% of the company's stock.

Ares Management Stock Down 1.1%

Shares of NYSE ARES opened at $165.20 on Wednesday. Ares Management Corporation has a 1 year low of $110.63 and a 1 year high of $200.49. The firm's 50-day moving average is $159.07 and its 200-day moving average is $166.96. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $53.95 billion, a PE ratio of 97.18, a price-to-earnings-growth ratio of 1.31 and a beta of 1.38.

Ares Management (NYSE:ARES - Get Free Report) last announced its quarterly earnings data on Monday, May 5th. The asset manager reported $1.09 earnings per share for the quarter, beating 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 business had revenue of $951.96 million for the quarter, compared to analyst estimates of $914.00 million. During the same period in the prior year, the business posted $0.80 earnings per share. Equities analysts expect that Ares Management Corporation will post 5.28 EPS for the current year.

Ares Management Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be given a $1.12 dividend. The ex-dividend date of this dividend is Monday, June 16th. This represents a $4.48 annualized dividend and a dividend yield of 2.71%. Ares Management's dividend payout ratio is currently 263.53%.

Insider Buying and Selling

In other news, Chairman Bennett Rosenthal sold 85,000 shares of the business's stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $168.79, for a total value of $14,347,150.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider David B. Kaplan sold 626 shares of the firm's stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $165.07, for a total value of $103,333.82. Following the sale, the insider now directly owns 61,874 shares in the company, valued at $10,213,541.18. The trade was a 1.00% decrease in their position. 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 over the last three months. Company insiders own 0.52% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on ARES. Wells Fargo & Company upped their target price on Ares Management from $182.00 to $189.00 and gave the company an "overweight" rating in a report on Friday, May 23rd. TD Cowen decreased their target price on shares of Ares Management from $216.00 to $161.00 and set a "buy" rating for the company in a research note on Wednesday, April 9th. Barclays boosted their price target on Ares Management from $142.00 to $182.00 and gave the company an "overweight" rating in a research note on Tuesday, May 6th. JMP Securities increased their target price on shares of Ares Management from $165.00 to $185.00 and gave the stock a "market outperform" rating in a research report on Thursday, May 8th. Finally, Wolfe Research set a $193.00 price target on Ares Management and gave the company an "outperform" rating in a report on Tuesday, May 6th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, Ares Management has a consensus rating of "Moderate Buy" and a consensus price target of $174.94.

Ares Management Company 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.

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