Ares Management Corporation $ARES Shares Sold by NewEdge Advisors LLC

Key Points

• NewEdge Advisors cut its Ares Management position by 50.3% in the second quarter, selling 13,350 shares and retaining 13,181 shares valued at approximately $1.47 million. Institutional investors collectively own 50.03% of Ares stock.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $160.47. Recent targets range from $134 to $168.
• Ares exceeded quarterly expectations with earnings of $1.29 per share and revenue of $1.43 billion, while revenue rose 5.8% year over year. The company declared a quarterly dividend of $1.35 per share, implying a 4.4% annualized yield.

NewEdge Advisors LLC decreased its position in Ares Management Corporation (NYSE:ARES - Free Report) by 50.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,181 shares of the asset manager's stock after selling 13,350 shares during the quarter. NewEdge Advisors LLC's holdings in Ares Management were worth $1,467,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Geode Capital Management LLC raised its position in Ares Management by 55.7% in the fourth quarter. Geode Capital Management LLC now owns 5,489,004 shares of the asset manager's stock worth $883,716,000 after acquiring an additional 1,963,460 shares in the last quarter. Capital International Investors boosted its position in shares of Ares Management by 0.3% during the 4th quarter. Capital International Investors now owns 4,257,710 shares of the asset manager's stock valued at $688,176,000 after purchasing an additional 14,516 shares in the last quarter. Principal Financial Group Inc. grew its stake in shares of Ares Management by 4.4% in the 1st quarter. Principal Financial Group Inc. now owns 4,009,291 shares of the asset manager's stock worth $437,417,000 after purchasing an additional 169,598 shares during the last quarter. Norges Bank acquired a new position in shares of Ares Management in the 4th quarter worth approximately $396,165,000. Finally, Vulcan Value Partners LLC raised its holdings in shares of Ares Management by 12.5% in the 2nd quarter. Vulcan Value Partners LLC now owns 1,902,580 shares of the asset manager's stock worth $211,776,000 after purchasing an additional 211,404 shares in the last quarter. Institutional investors own 50.03% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on ARES. BMO Capital Markets increased their target price on shares of Ares Management from $128.00 to $134.00 and gave the company a "market perform" rating in a research note on Monday, August 3rd. Barclays dropped their price target on Ares Management from $140.00 to $139.00 and set an "overweight" rating on the stock in a report on Thursday, July 9th. JPMorgan Chase & Co. increased their price objective on Ares Management from $143.00 to $153.00 and gave the company an "overweight" rating in a research report on Monday, August 3rd. Royal Bank Of Canada raised their price objective on Ares Management from $162.00 to $168.00 and gave the stock an "outperform" rating in a research note on Monday, August 3rd. Finally, Keefe, Bruyette & Woods upgraded Ares Management to a "hold" rating in a report on Monday, July 20th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $160.47.

Ares Management Stock Performance

Ares Management stock opened at $123.99 on Friday. Ares Management Corporation has a fifty-two week low of $95.80 and a fifty-two week high of $186.85. The firm's 50 day simple moving average is $133.99 and its 200-day simple moving average is $122.88. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.26 and a quick ratio of 0.26. The company has a market cap of $40.95 billion, a P/E ratio of 56.88, a price-to-earnings-growth ratio of 1.07 and a beta of 1.49.

Ares Management (NYSE:ARES - Get Free Report) last posted its quarterly earnings data on Friday, July 31st. The asset manager reported $1.29 EPS for the quarter, topping analysts' consensus estimates of $1.28 by $0.01. Ares Management had a net margin of 10.63% and a return on equity of 25.42%. The firm had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.27 billion. During the same quarter last year, the business posted $1.03 EPS. The company's revenue was up 5.8% on a year-over-year basis. As a group, equities research analysts predict that Ares Management Corporation will post 5.93 EPS for the current year.

Ares Management Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 16th will be issued a dividend of $1.35 per share. The ex-dividend date is Wednesday, September 16th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.4%. Ares Management's payout ratio is currently 247.71%.

About Ares Management

Ares Management Corporation is a global alternative investment manager that provides investment solutions across credit, private equity, real assets and secondaries. The company manages capital for institutional investors, financial intermediaries and individual investors through a range of private funds, public-market strategies and other investment vehicles.

Its investment activities include direct lending and other forms of private credit, corporate and growth-oriented private equity, real estate and infrastructure investments, and secondary-market transactions involving private investment interests.

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