Cinctive Capital Management LP Has $1.64 Million Stock Position in Ares Management Corporation $ARES

Key Points

• Cinctive Capital Management LP increased its position in Ares Management Corporation by 145.5%, owning a total of 11,197 shares valued at approximately $1.64 million after acquiring additional shares.
• Recent insider activity includes CEO Michael J. Arougheti selling 44,760 shares for nearly $8 million, and Chairman Antony P. Ressler selling 177,929 shares for over $31 million, leading to a decrease in their ownership stakes.
• Ares Management recently declared a quarterly dividend of $1.12, with an annualized yield of 2.5%, despite having a high dividend payout ratio of 258.96%.

Cinctive Capital Management LP grew its stake in Ares Management Corporation (NYSE:ARES - Free Report) by 145.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,197 shares of the asset manager's stock after acquiring an additional 6,637 shares during the period. Cinctive Capital Management LP's holdings in Ares Management were worth $1,642,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of ARES. AXA S.A. lifted its stake in Ares Management by 64.3% in the 4th quarter. AXA S.A. now owns 9,312 shares of the asset manager's stock valued at $1,649,000 after purchasing an additional 3,644 shares during the last quarter. Baird Financial Group Inc. lifted its stake in Ares Management by 4.5% in the 4th quarter. Baird Financial Group Inc. now owns 3,299 shares of the asset manager's stock valued at $584,000 after purchasing an additional 143 shares during the last quarter. Captrust Financial Advisors lifted its stake in Ares Management by 14.8% in the 4th quarter. Captrust Financial Advisors now owns 8,107 shares of the asset manager's stock valued at $1,435,000 after purchasing an additional 1,043 shares during the last quarter. Brevan Howard Capital Management LP acquired a new stake in Ares Management in the 4th quarter valued at about $1,003,000. Finally, Deutsche Bank AG lifted its stake in Ares Management by 16.7% in the 4th quarter. Deutsche Bank AG now owns 246,147 shares of the asset manager's stock valued at $43,575,000 after purchasing an additional 35,196 shares during the last quarter. 50.03% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Chairman Antony P. Ressler sold 196,197 shares of the business's stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $178.79, for a total value of $35,078,061.63. Following the transaction, the chairman owned 1,424,538 shares in the company, valued at $254,693,149.02. The trade was a 12.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael J. Arougheti sold 136,516 shares of the company's stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $182.74, for a total transaction of $24,946,933.84. Following the transaction, the chief executive officer owned 311,728 shares in the company, valued at $56,965,174.72. This represents a 30.46% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 2,546,163 shares of company stock worth $455,806,152. 0.52% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

ARES has been the subject of several recent analyst reports. Royal Bank Of Canada raised their target price on shares of Ares Management from $195.00 to $215.00 and gave the company an "outperform" rating in a research note on Monday, August 18th. Barclays raised their price objective on shares of Ares Management from $182.00 to $200.00 and gave the stock an "overweight" rating in a research report on Thursday, July 10th. JMP Securities raised their price objective on shares of Ares Management from $195.00 to $205.00 and gave the stock a "market outperform" rating in a research report on Wednesday, August 6th. Keefe, Bruyette & Woods raised their price objective on shares of Ares Management from $193.00 to $203.00 and gave the stock an "outperform" rating in a research report on Monday, August 4th. Finally, Raymond James Financial began coverage on shares of Ares Management in a research report on Monday, July 28th. They set a "market perform" rating for the company. Thirteen analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Ares Management presently has an average rating of "Moderate Buy" and a consensus price target of $182.73.

Ares Management Price Performance

Shares of NYSE ARES traded up $3.77 during midday trading on Wednesday, reaching $178.84. 332,216 shares of the company were exchanged, compared to its average volume of 1,608,207. The stock's 50-day moving average price is $181.96 and its 200-day moving average price is $165.34. The stock has a market cap of $58.43 billion, a P/E ratio of 103.29, a PEG ratio of 1.38 and a beta of 1.44. Ares Management Corporation has a one year low of $110.63 and a one year high of $200.49. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.64.

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

Ares Management Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th will be issued a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date is Tuesday, September 16th. Ares Management's payout ratio is 258.96%.

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.