Ares Management Corporation $ARES Shares Sold by Amundi

Amundi decreased its position in Ares Management Corporation (NYSE:ARES - Free Report) by 2.5% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 159,689 shares of the asset manager's stock after selling 4,136 shares during the period. Amundi owned about 0.05% of Ares Management worth $23,412,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of ARES. Baird Financial Group Inc. grew its holdings in Ares Management by 4.5% in the fourth 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 boosted its stake in shares of Ares Management by 14.8% during the fourth quarter. Captrust Financial Advisors now owns 8,107 shares of the asset manager's stock valued at $1,435,000 after acquiring an additional 1,043 shares during the last quarter. Deutsche Bank AG boosted its stake in shares of Ares Management by 16.7% during the fourth quarter. Deutsche Bank AG now owns 246,147 shares of the asset manager's stock valued at $43,575,000 after acquiring an additional 35,196 shares during the last quarter. Fiduciary Trust Co acquired a new stake in shares of Ares Management during the fourth quarter valued at $341,000. Finally, Focus Partners Wealth acquired a new stake in shares of Ares Management during the fourth quarter valued at $292,000. Institutional investors and hedge funds own 50.03% of the company's stock.

Analysts Set New Price Targets

ARES has been the topic of a number of analyst reports. Wells Fargo & Company increased their price objective on Ares Management from $189.00 to $202.00 and gave the company an "overweight" rating in a research note on Friday, July 11th. Royal Bank Of Canada increased their price objective on Ares Management from $195.00 to $215.00 and gave the company an "outperform" rating in a research note on Monday, August 18th. Keefe, Bruyette & Woods increased their price objective on Ares Management from $193.00 to $203.00 and gave the company an "outperform" rating in a research note on Monday, August 4th. JMP Securities increased their price objective on Ares Management from $195.00 to $205.00 and gave the company a "market outperform" rating in a research note on Wednesday, August 6th. Finally, 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. Thirteen analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $182.73.

Ares Management Trading Down 1.0%

NYSE:ARES traded down $1.76 during mid-day trading on Friday, reaching $182.95. The company's stock had a trading volume of 837,086 shares, compared to its average volume of 1,340,234. The company's fifty day simple moving average is $182.19 and its two-hundred day simple moving average is $165.63. 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 twelve month low of $110.63 and a twelve month high of $200.49. The stock has a market cap of $59.77 billion, a P/E ratio of 105.75, a P/E/G ratio of 1.45 and a beta of 1.44.

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

Ares Management Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th will be issued a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date is Tuesday, September 16th. Ares Management's dividend payout ratio (DPR) is 258.96%.

Insider Transactions at Ares Management

In other news, Chairman Antony P. Ressler sold 196,197 shares of the firm's stock in a transaction dated 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 transaction, the chairman directly owned 1,424,538 shares in the company, valued at $254,693,149.02. This trade represents a 12.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Michael J. Arougheti sold 136,516 shares of the firm's stock in a transaction dated 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 in the company, valued at approximately $56,965,174.72. This trade represents a 30.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,590,000 shares of company stock worth $464,430,639. Company insiders own 36.86% of the company's stock.

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.