Ares Management Corporation (NYSE:ARES) Shares Acquired by Angeles Wealth Management LLC

Key Points

• Angeles Wealth Management LLC increased its holdings in Ares Management Corporation by 23.5% in the first quarter, now owning 214,054 shares worth approximately $31.4 million.
• Several institutional investors, including Norges Bank and Millennium Management, significantly increased their positions in Ares Management, with ownership among institutional investors now at 50.03%.
• Ares Management recently reported $1.09 EPS, exceeding estimates, and declared a quarterly dividend of $1.12 per share, reflecting a 2.41% yield.

Angeles Wealth Management LLC increased its holdings in Ares Management Corporation (NYSE:ARES - Free Report) by 23.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 214,054 shares of the asset manager's stock after purchasing an additional 40,711 shares during the period. Ares Management makes up 2.6% of Angeles Wealth Management LLC's investment portfolio, making the stock its 8th biggest holding. Angeles Wealth Management LLC owned 0.07% of Ares Management worth $31,382,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. IFP Advisors Inc boosted its holdings in Ares Management by 129.6% in the first quarter. IFP Advisors Inc now owns 1,988 shares of the asset manager's stock worth $291,000 after purchasing an additional 1,122 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its holdings in Ares Management by 40.7% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 7,960 shares of the asset manager's stock valued at $1,167,000 after acquiring an additional 2,302 shares during the period. Stratos Wealth Partners LTD. boosted its holdings in Ares Management by 4.2% during the first quarter. Stratos Wealth Partners LTD. now owns 53,401 shares of the asset manager's stock valued at $7,829,000 after acquiring an additional 2,171 shares during the period. Robeco Institutional Asset Management B.V. bought a new stake in Ares Management during the first quarter valued at about $667,000. Finally, Oppenheimer & Co. Inc. boosted its holdings in Ares Management by 5.4% during the first quarter. Oppenheimer & Co. Inc. now owns 39,270 shares of the asset manager's stock valued at $5,757,000 after acquiring an additional 1,995 shares during the period. 50.03% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have issued reports on ARES. Citizens Jmp upgraded shares of Ares Management from a "market perform" rating to an "outperform" rating and set a $165.00 price target for the company in a report on Tuesday, April 8th. Barclays upped their price target on shares of Ares Management from $182.00 to $200.00 and gave the company an "overweight" rating in a report on Thursday, July 10th. Oppenheimer cut shares of Ares Management from an "outperform" rating to a "market perform" rating in a report on Thursday, May 15th. Wolfe Research set a $193.00 price target on shares of Ares Management and gave the company an "outperform" rating in a report on Tuesday, May 6th. Finally, Citigroup restated an "outperform" rating on shares of Ares Management in a report on Monday, July 14th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $177.50.

Ares Management Price Performance

NYSE:ARES traded up $0.93 during mid-day trading on Wednesday, hitting $188.86. The company's stock had a trading volume of 349,686 shares, compared to its average volume of 1,656,045. Ares Management Corporation has a fifty-two week low of $110.63 and a fifty-two week high of $200.49. 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 company has a market capitalization of $61.68 billion, a price-to-earnings ratio of 111.20, a P/E/G ratio of 1.53 and a beta of 1.37. The stock has a fifty day moving average of $172.49 and a 200-day moving average of $166.58.

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

Ares Management Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 16th were issued a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a dividend yield of 2.37%. The ex-dividend date of this dividend was Monday, June 16th. Ares Management's payout ratio is 263.53%.

Insider Transactions at Ares Management

In other news, insider David B. Kaplan sold 33,145 shares of the firm's stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $165.12, for a total transaction of $5,472,902.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Michael J. Arougheti sold 107,500 shares of the firm's stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $161.34, for a total transaction of $17,344,050.00. Following the sale, the chief executive officer directly owned 1,400,000 shares of the company's stock, valued at approximately $225,876,000. The trade was a 7.13% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 873,145 shares of company stock valued at $146,204,353. Corporate insiders own 0.52% of the company's stock.

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.