Ares Management Corporation (NYSE:ARES) Shares Bought by Cambridge Investment Research Advisors Inc.

Cambridge Investment Research Advisors Inc. raised its stake in Ares Management Corporation (NYSE:ARES - Free Report) by 40.7% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,960 shares of the asset manager's stock after buying an additional 2,302 shares during the quarter. Cambridge Investment Research Advisors Inc.'s holdings in Ares Management were worth $1,167,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Transce3nd LLC purchased a new stake in Ares Management in the 4th quarter valued at about $29,000. Johnson Financial Group Inc. increased its position in shares of Ares Management by 104.8% during the fourth quarter. Johnson Financial Group Inc. now owns 170 shares of the asset manager's stock valued at $30,000 after acquiring an additional 87 shares during the last quarter. Elequin Capital LP purchased a new stake in shares of Ares Management in the 4th quarter valued at approximately $33,000. Global Financial Private Client LLC lifted its holdings in shares of Ares Management by 125.6% in the 1st quarter. Global Financial Private Client LLC now owns 264 shares of the asset manager's stock worth $39,000 after acquiring an additional 147 shares during the last quarter. Finally, Rakuten Securities Inc. lifted its holdings in shares of Ares Management by 3,262.5% in the 1st quarter. Rakuten Securities Inc. now owns 269 shares of the asset manager's stock worth $39,000 after acquiring an additional 261 shares during the last quarter. 50.03% of the stock is owned by institutional investors and hedge funds.

Ares Management Stock Down 0.0%

Shares of NYSE:ARES opened at $177.96 on Friday. Ares Management Corporation has a 1-year low of $110.63 and a 1-year high of $200.49. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.07 and a quick ratio of 1.07. The stock has a market cap of $58.12 billion, a P/E ratio of 104.68, a P/E/G ratio of 1.40 and a beta of 1.37. The firm has a fifty day moving average price of $166.68 and a 200 day moving average price of $166.42.

Ares Management (NYSE:ARES - Get Free Report) last released its quarterly earnings results on Monday, May 5th. The asset manager reported $1.09 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.94 by $0.15. The firm had revenue of $951.96 million for the quarter, compared to analyst estimates of $914.00 million. Ares Management had a return on equity of 16.29% and a net margin of 9.73%. During the same quarter last year, the company posted $0.80 earnings per share. Sell-side analysts predict that Ares Management Corporation will post 5.28 EPS for the current year.

Ares Management Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 16th were issued a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a dividend yield of 2.52%. The ex-dividend date of this dividend was Monday, June 16th. Ares Management's payout ratio is currently 263.53%.

Wall Street Analyst Weigh In

Several research firms have recently commented on ARES. Morgan Stanley lowered their price target on Ares Management from $197.00 to $152.00 and set an "equal weight" rating for the company in a research report on Monday, April 14th. Barclays lifted their target price on Ares Management from $142.00 to $182.00 and gave the company an "overweight" rating in a research report on Tuesday, May 6th. Wolfe Research set a $193.00 price target on shares of Ares Management and gave the stock an "outperform" rating in a research note on Tuesday, May 6th. Citizens Jmp raised shares of Ares Management from a "market perform" rating to an "outperform" rating and set a $165.00 price objective for the company in a research note on Tuesday, April 8th. Finally, JMP Securities lifted their price objective on shares of Ares Management from $165.00 to $185.00 and gave the company a "market outperform" rating in a report on Thursday, May 8th. One analyst has rated the stock with a sell rating, four have given a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, Ares Management currently has an average rating of "Moderate Buy" and a consensus price target of $174.94.

Insider Transactions at Ares Management

In related news, Chairman Bennett Rosenthal sold 85,000 shares of Ares Management 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 transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider David B. Kaplan sold 33,145 shares of the company's stock in a transaction on Friday, May 30th. The stock was sold at an average price of $165.12, for a total transaction of $5,472,902.40. The disclosure for this sale can be found here. Insiders sold 873,145 shares of company stock worth $146,204,353 over the last 90 days. 36.86% of the stock is currently owned by insiders.

Ares Management Company 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.

Want to see what other hedge funds are holding ARES? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ares Management Corporation (NYSE:ARES - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.