Ares Management Corporation (NYSE:ARES) Stock Holdings Raised by Allianz Asset Management GmbH

Key Points

• Allianz Asset Management GmbH increased its stake in Ares Management Corporation by 8.6% during Q1, holding 18,430 shares valued at approximately $2.7 million.
• Ares Management's latest quarterly earnings report showed an EPS of $1.09, surpassing estimates of $0.94, with revenue of $951.96 million compared to expectations of $914 million.
• Recent analyst ratings for Ares Management reflect a mixed outlook, with a consensus rating of "Moderate Buy" and a target price of $177.50, influenced by varied upgrades and downgrades from several firms.

Allianz Asset Management GmbH grew its stake in Ares Management Corporation (NYSE:ARES - Free Report) by 8.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,430 shares of the asset manager's stock after buying an additional 1,460 shares during the quarter. Allianz Asset Management GmbH's holdings in Ares Management were worth $2,702,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. FMR LLC lifted its stake in shares of Ares Management by 12.8% in the 4th quarter. FMR LLC now owns 7,109,070 shares of the asset manager's stock valued at $1,258,519,000 after purchasing an additional 807,361 shares during the last quarter. Millennium Management LLC increased its holdings in Ares Management by 394.8% during the 4th quarter. Millennium Management LLC now owns 766,267 shares of the asset manager's stock worth $135,652,000 after purchasing an additional 611,414 shares during the period. Lord Abbett & CO. LLC increased its holdings in shares of Ares Management by 443.8% in the 4th quarter. Lord Abbett & CO. LLC now owns 383,209 shares of the asset manager's stock valued at $67,839,000 after acquiring an additional 312,742 shares during the period. Brown Advisory Inc. increased its holdings in shares of Ares Management by 8.8% in the 4th quarter. Brown Advisory Inc. now owns 3,727,597 shares of the asset manager's stock valued at $659,896,000 after acquiring an additional 302,303 shares during the period. Finally, Capital World Investors increased its holdings in shares of Ares Management by 2.1% in the 4th quarter. Capital World Investors now owns 10,753,779 shares of the asset manager's stock valued at $1,903,741,000 after acquiring an additional 223,919 shares during the period. Hedge funds and other institutional investors own 50.03% of the company's stock.

Insider Activity at Ares Management

In other Ares Management news, insider David B. Kaplan sold 62,500 shares of the business's stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $169.36, for a total value of $10,585,000.00. Following the transaction, the insider owned 62,500 shares in the company, valued at $10,585,000. The trade was a 50.00% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Bennett Rosenthal sold 85,000 shares of the business's stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $168.79, for a total transaction of $14,347,150.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 873,145 shares of company stock worth $146,204,353. 36.86% of the stock is currently owned by corporate insiders.

Ares Management Stock Down 1.3%

Shares of NYSE:ARES traded down $2.43 during midday trading on Friday, hitting $183.10. 2,193,787 shares of the company's stock traded hands, compared to its average volume of 1,251,419. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.07 and a current ratio of 1.07. The company has a market cap of $59.80 billion, a PE ratio of 107.71, a P/E/G ratio of 1.52 and a beta of 1.40. The firm's fifty day moving average price is $173.59 and its two-hundred day moving average price is $166.79. Ares Management Corporation has a twelve month low of $110.63 and a twelve month high of $200.49.

Ares Management (NYSE:ARES - Get Free Report) last posted its earnings results on Friday, August 1st. The asset manager reported $1.03 earnings per share for the quarter, missing the consensus estimate 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 net margin of 9.73% and a return on equity of 16.29%. During the same quarter in the previous year, the firm posted $0.99 EPS. On average, equities research analysts anticipate that Ares Management Corporation will post 5.28 EPS for the current fiscal year.

Ares Management Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th will be issued a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a dividend yield of 2.4%. Ares Management's payout ratio is 263.53%.

Wall Street Analysts Forecast Growth

ARES has been the topic of several research analyst reports. Raymond James Financial initiated coverage on Ares Management in a research note on Monday. They set a "market perform" rating on the stock. Bank of America dropped their target price on Ares Management from $221.00 to $201.00 and set a "buy" rating on the stock in a research note on Friday, April 4th. Oppenheimer downgraded Ares Management from an "outperform" rating to a "market perform" rating in a research note on Thursday, May 15th. Wolfe Research set a $193.00 price target on Ares Management and gave the stock an "outperform" rating in a research report on Tuesday, May 6th. Finally, Citizens Jmp raised Ares Management from a "market perform" rating to an "outperform" rating and set a $165.00 price objective for the company in a report on Tuesday, April 8th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, Ares Management has a consensus rating of "Moderate Buy" and an average price target of $177.50.

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.