Ares Management Corporation (NYSE:ARES) Shares Acquired by Hamlin Capital Management LLC

Key Points

• Hamlin Capital Management LLC increased its stake in Ares Management Corporation by 2.8%, owning a total of 1,132,922 shares valued at approximately $166 million.
• Ares Management reported earnings of $1.03 per share for the quarter, falling short of the expected $1.15, despite generating over $1.35 billion in revenue.
• The company declared a quarterly dividend of $1.12, which translates to an annualized yield of 2.3%, with a payout ratio of 258.96%.

Hamlin Capital Management LLC lifted its stake in Ares Management Corporation (NYSE:ARES - Free Report) by 2.8% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,132,922 shares of the asset manager's stock after purchasing an additional 30,764 shares during the quarter. Ares Management accounts for about 4.0% of Hamlin Capital Management LLC's investment portfolio, making the stock its 16th largest holding. Hamlin Capital Management LLC owned 0.36% of Ares Management worth $166,098,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Vestmark Advisory Solutions Inc. boosted its holdings in shares of Ares Management by 38.6% during the first quarter. Vestmark Advisory Solutions Inc. now owns 4,000 shares of the asset manager's stock worth $586,000 after purchasing an additional 1,114 shares during the period. Financial Network Wealth Advisors LLC purchased a new position in shares of Ares Management during the 1st quarter valued at $31,000. Tokio Marine Asset Management Co. Ltd. acquired a new position in shares of Ares Management in the first quarter worth $1,010,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Ares Management during the first quarter worth $78,000. Finally, National Pension Service lifted its holdings in shares of Ares Management by 8.6% during the 1st quarter. National Pension Service now owns 260,730 shares of the asset manager's stock valued at $38,226,000 after buying an additional 20,630 shares during the last quarter. Hedge funds and other institutional investors own 50.03% of the company's stock.

Ares Management Price Performance

Ares Management stock opened at $190.99 on Thursday. The firm has a market capitalization of $62.37 billion, a P/E ratio of 110.40, a PEG ratio of 1.51 and a beta of 1.40. The business has a 50-day moving average of $177.80 and a 200-day moving average of $166.64. The company has a current ratio of 1.08, a quick ratio of 1.07 and a debt-to-equity ratio of 0.64. Ares Management Corporation has a 1 year low of $110.63 and a 1 year 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). Ares Management had a return on equity of 15.81% and a net margin of 9.47%. The firm had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.02 billion. During the same quarter last year, the business posted $0.99 earnings per share. On average, equities analysts anticipate that Ares Management Corporation will post 5.28 EPS for the current year.

Ares Management Dividend Announcement

The company also recently declared 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 2.3%. The ex-dividend date is Tuesday, September 16th. Ares Management's payout ratio is 258.96%.

Analyst Ratings Changes

A number of analysts have issued reports on ARES shares. Citigroup reiterated an "outperform" rating on shares of Ares Management in a research note on Monday, July 14th. Wells Fargo & Company upped their price objective on shares of Ares Management from $189.00 to $202.00 and gave the stock an "overweight" rating in a report on Friday, July 11th. Cfra Research raised shares of Ares Management to a "moderate buy" rating in a research report on Monday, August 4th. Wolfe Research set a $193.00 price target on Ares Management and gave the stock an "outperform" rating in a research note on Tuesday, May 6th. Finally, Raymond James Financial assumed coverage on Ares Management in a research note on Monday, July 28th. They issued a "market perform" rating on the stock. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $178.19.

Insider Activity

In other news, Chairman Bennett Rosenthal sold 85,000 shares of the business's stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $168.79, for a total value of $14,347,150.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Michael J. Arougheti sold 107,500 shares of the firm's stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $161.34, for a total transaction of $17,344,050.00. Following the completion of the transaction, the chief executive officer directly owned 1,400,000 shares of the company's stock, valued at approximately $225,876,000. This trade represents a 7.13% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 713,437 shares of company stock worth $119,144,937 over the last three months. Corporate insiders own 36.86% of the company's stock.

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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