Ares Management Corporation $ARES Shares Sold by Catalyst Capital Advisors LLC

Key Points

• Catalyst Capital Advisors LLC reduced its stake in Ares Management Corporation by 68.1% in the second quarter, now holding 905 shares valued at $157,000.
• Ares Management reported a quarterly earnings miss, posting $1.03 EPS, which was below the consensus estimate of $1.15, despite revenues reaching $1.35 billion.
• The company declared a quarterly dividend of $1.12, representing an annual yield of 3.0% and a payout ratio of 258.96%.

Catalyst Capital Advisors LLC lessened its holdings in Ares Management Corporation (NYSE:ARES - Free Report) by 68.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 905 shares of the asset manager's stock after selling 1,932 shares during the quarter. Catalyst Capital Advisors LLC's holdings in Ares Management were worth $157,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in Ares Management by 2.0% in the first quarter. Vanguard Group Inc. now owns 19,189,991 shares of the asset manager's stock worth $2,813,445,000 after purchasing an additional 382,273 shares during the period. JPMorgan Chase & Co. boosted its holdings in Ares Management by 0.4% in the first quarter. JPMorgan Chase & Co. now owns 8,308,330 shares of the asset manager's stock worth $1,218,084,000 after purchasing an additional 30,451 shares during the period. Principal Financial Group Inc. lifted its stake in Ares Management by 4.8% in the first quarter. Principal Financial Group Inc. now owns 3,354,032 shares of the asset manager's stock valued at $491,735,000 after buying an additional 152,169 shares during the last quarter. Raymond James Financial Inc. lifted its stake in Ares Management by 0.3% in the first quarter. Raymond James Financial Inc. now owns 1,902,603 shares of the asset manager's stock valued at $278,941,000 after buying an additional 5,424 shares during the last quarter. Finally, Canada Pension Plan Investment Board lifted its stake in Ares Management by 5.5% in the first quarter. Canada Pension Plan Investment Board now owns 1,727,563 shares of the asset manager's stock valued at $253,278,000 after buying an additional 90,101 shares during the last quarter. Institutional investors and hedge funds own 50.03% of the company's stock.

Ares Management Price Performance

Shares of Ares Management stock opened at $149.42 on Friday. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.64. The company's 50-day moving average price is $166.89 and its two-hundred day moving average price is $167.65. Ares Management Corporation has a 52 week low of $110.63 and a 52 week high of $200.49. The stock has a market cap of $48.82 billion, a PE ratio of 86.37, a price-to-earnings-growth ratio of 1.18 and a beta of 1.43.

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 the consensus estimate 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 the consensus estimate of $1.02 billion. During the same quarter last year, the firm posted $0.99 earnings per share. As a group, sell-side analysts anticipate that Ares Management Corporation will post 5.28 EPS for the current fiscal year.

Ares Management Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th were given a $1.12 dividend. The ex-dividend date was Tuesday, September 16th. This represents a $4.48 annualized dividend and a yield of 3.0%. Ares Management's payout ratio is 258.96%.

Insider Buying and Selling

In other Ares Management news, Chairman Antony P. Ressler sold 128,837 shares of the business's stock in a transaction dated Wednesday, September 10th. The shares were sold at an average price of $178.30, for a total value of $22,971,637.10. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders have sold 2,590,000 shares of company stock valued at $464,430,639 in the last quarter. 36.86% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

ARES has been the topic of a number of recent research reports. BMO Capital Markets initiated coverage on Ares Management in a research note on Friday, October 3rd. They issued a "market perform" rating and a $156.00 target price on the stock. Wells Fargo & Company raised their target price on Ares Management from $189.00 to $202.00 and gave the company an "overweight" rating in a research note on Friday, July 11th. Raymond James Financial began coverage on shares of Ares Management in a research note on Monday, July 28th. They set a "market perform" rating on the stock. Weiss Ratings restated a "hold (c)" rating on shares of Ares Management in a research note on Tuesday, October 14th. Finally, Morgan Stanley cut their price objective on shares of Ares Management from $178.00 to $175.00 and set an "equal weight" rating on the stock in a research note on Tuesday. Thirteen analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, Ares Management presently has a consensus rating of "Moderate Buy" and an average target price of $181.93.

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.

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