Apollon Wealth Management LLC Purchases 1,857 Shares of Ares Management Corporation $ARES

Key Points

• Apollon Wealth Management LLC increased its stake in Ares Management Corporation by 8.5%, acquiring an additional 1,857 shares during the second quarter, bringing its total holdings to 23,611 shares valued at approximately $4,089,000.
• Recent analyst reports have resulted in mixed ratings for Ares Management, with target prices varying from $180.00 to $215.00, reflecting a consensus rating of "Moderate Buy" from thirteen analysts.
• Ares Management recently announced a $1.12 quarterly dividend, which represents an annualized dividend yield of 3.2%, though the company's payout ratio stands at a high 258.96%.

Apollon Wealth Management LLC raised its position in Ares Management Corporation (NYSE:ARES - Free Report) by 8.5% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 23,611 shares of the asset manager's stock after acquiring an additional 1,857 shares during the quarter. Apollon Wealth Management LLC's holdings in Ares Management were worth $4,089,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. DSM Capital Partners LLC lifted its holdings in Ares Management by 0.6% in the second quarter. DSM Capital Partners LLC now owns 14,080 shares of the asset manager's stock valued at $2,439,000 after acquiring an additional 87 shares during the period. Aberdeen Group plc lifted its holdings in Ares Management by 6.0% in the second quarter. Aberdeen Group plc now owns 104,631 shares of the asset manager's stock valued at $18,122,000 after acquiring an additional 5,939 shares during the period. Blue Trust Inc. raised its stake in shares of Ares Management by 27.7% in the second quarter. Blue Trust Inc. now owns 5,758 shares of the asset manager's stock worth $997,000 after buying an additional 1,249 shares during the period. Fourpath Capital Management LLC bought a new position in shares of Ares Management in the second quarter worth about $204,000. Finally, Monument Capital Management bought a new position in shares of Ares Management in the second quarter worth about $303,000. Institutional investors own 50.03% of the company's stock.

Analysts Set New Price Targets

ARES has been the topic of several recent analyst reports. Raymond James Financial initiated coverage on Ares Management in a research note on Monday, July 28th. They set a "market perform" rating on the stock. Citigroup reissued an "outperform" rating on shares of Ares Management in a research note on Monday, July 14th. Barclays decreased their target price on Ares Management from $200.00 to $187.00 and set an "overweight" rating on the stock in a research note on Wednesday. Royal Bank Of Canada reissued an "outperform" rating and set a $215.00 target price on shares of Ares Management in a research note on Monday, September 29th. Finally, Bank of America lifted their target price on Ares Management from $196.00 to $197.00 and gave the company a "buy" rating in a research note on Friday, October 3rd. Thirteen equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat.com, Ares Management presently has a consensus rating of "Moderate Buy" and an average target price of $180.00.

Ares Management Stock Performance

NYSE ARES opened at $140.84 on Friday. The stock has a market capitalization of $46.01 billion, a PE ratio of 81.41, a P/E/G ratio of 1.11 and a beta of 1.43. The business has a 50 day simple moving average of $175.26 and a two-hundred day simple moving average of $167.20. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.08 and a quick ratio of 1.08. Ares Management Corporation has a 1-year low of $110.63 and a 1-year high of $200.49.

Ares Management (NYSE:ARES - Get Free Report) last released its quarterly earnings results on Friday, August 1st. The asset manager reported $1.03 earnings per share for the quarter, missing the consensus estimate of $1.15 by ($0.12). The firm had revenue of $1.35 billion for the quarter, compared to analysts' expectations of $1.02 billion. Ares Management had a net margin of 9.47% and a return on equity of 15.81%. During the same quarter in the prior year, the business earned $0.99 EPS. On average, research analysts predict that Ares Management Corporation will post 5.28 EPS for the current fiscal year.

Ares Management Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th were issued a $1.12 dividend. The ex-dividend date was Tuesday, September 16th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.2%. Ares Management's payout ratio is 258.96%.

Insider Buying and Selling

In other news, Chairman Antony P. Ressler sold 196,197 shares of Ares Management stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $178.79, for a total value of $35,078,061.63. Following the completion of the transaction, the chairman owned 1,424,538 shares in the company, valued at approximately $254,693,149.02. The trade was a 12.11% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael J. Arougheti sold 136,516 shares of Ares Management stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $182.74, for a total value of $24,946,933.84. Following the completion of the transaction, the chief executive officer owned 311,728 shares of the company's stock, valued at approximately $56,965,174.72. This trade represents a 30.46% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,590,000 shares of company stock valued at $464,430,639. Company insiders own 36.86% of the company's stock.

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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