Secure Asset Management LLC Has $1.43 Million Stock Holdings in Ares Management Corporation $ARES

Key Points

• Secure Asset Management LLC increased its stake in Ares Management Corporation by 22.6%, owning 8,259 shares valued at approximately $1.43 million as of the latest SEC filing.
• Ares Management reported $1.03 earnings per share (EPS) for the last quarter, missing analyst estimates, while revenue was $1.35 billion, exceeding projections of $1.02 billion.
• The company announced a quarterly $1.12 dividend to be paid on September 30th, with a dividend yield of 2.5% and a payout ratio of 258.96%.

Secure Asset Management LLC lifted its stake in shares of Ares Management Corporation (NYSE:ARES - Free Report) by 22.6% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,259 shares of the asset manager's stock after purchasing an additional 1,524 shares during the period. Secure Asset Management LLC's holdings in Ares Management were worth $1,430,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Smartleaf Asset Management LLC raised its position in shares of Ares Management by 9.1% during the first quarter. Smartleaf Asset Management LLC now owns 746 shares of the asset manager's stock worth $108,000 after purchasing an additional 62 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Ares Management by 5.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,344 shares of the asset manager's stock worth $197,000 after purchasing an additional 70 shares during the period. Canton Hathaway LLC raised its position in shares of Ares Management by 9.5% during the first quarter. Canton Hathaway LLC now owns 865 shares of the asset manager's stock worth $127,000 after purchasing an additional 75 shares during the period. Bessemer Group Inc. raised its position in shares of Ares Management by 1.8% during the first quarter. Bessemer Group Inc. now owns 4,360 shares of the asset manager's stock worth $639,000 after purchasing an additional 78 shares during the period. Finally, Walled Lake Planning & Wealth Management LLC raised its position in shares of Ares Management by 4.2% during the first quarter. Walled Lake Planning & Wealth Management LLC now owns 2,035 shares of the asset manager's stock worth $298,000 after purchasing an additional 82 shares during the period. 50.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Citigroup reiterated an "outperform" rating on shares of Ares Management in a report on Monday, July 14th. Keefe, Bruyette & Woods lifted their price target on Ares Management from $193.00 to $203.00 and gave the company an "outperform" rating in a report on Monday, August 4th. Royal Bank Of Canada lifted their price target on Ares Management from $195.00 to $215.00 and gave the company an "outperform" rating in a report on Monday, August 18th. Cfra Research upgraded Ares Management to a "moderate buy" rating in a report on Monday, August 4th. Finally, JMP Securities lifted their price target on Ares Management from $195.00 to $205.00 and gave the company a "market outperform" rating in a report on Wednesday, August 6th. Thirteen research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, Ares Management currently has a consensus rating of "Moderate Buy" and an average price target of $182.73.

Insider Activity

In other news, Chairman Antony P. Ressler sold 128,837 shares of the company's stock in a transaction dated Wednesday, September 10th. The stock was sold at an average price of $178.30, for a total transaction of $22,971,637.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In the last ninety days, insiders sold 2,590,000 shares of company stock worth $464,430,639. Corporate insiders own 0.52% of the company's stock.

Ares Management Stock Down 0.6%

Shares of ARES traded down $1.01 during trading hours on Monday, hitting $181.99. 1,053,817 shares of the company were exchanged, compared to its average volume of 1,287,497. The company has a market cap of $59.46 billion, a PE ratio of 105.19, a PEG ratio of 1.43 and a beta of 1.44. The firm's 50 day moving average is $182.61 and its 200-day moving average is $166.41. Ares Management Corporation has a 52 week low of $110.63 and a 52 week high of $200.49. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.08 and a current ratio of 1.08.

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 (EPS) for the quarter, missing the consensus estimate of $1.15 by ($0.12). The company had revenue of $1.35 billion for the quarter, compared to the consensus estimate 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 company posted $0.99 EPS. On average, equities research analysts forecast that Ares Management Corporation will post 5.28 EPS for the current fiscal year.

Ares Management Announces Dividend

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

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.