Teacher Retirement System of Texas Has $4.04 Million Stock Holdings in Ares Management Corporation (NYSE:ARES)

Teacher Retirement System of Texas raised its position in Ares Management Corporation (NYSE:ARES - Free Report) by 1,462.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 27,552 shares of the asset manager's stock after buying an additional 25,789 shares during the quarter. Teacher Retirement System of Texas' holdings in Ares Management were worth $4,039,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Atria Investments Inc grew its holdings in Ares Management by 7.6% in the fourth quarter. Atria Investments Inc now owns 8,141 shares of the asset manager's stock valued at $1,441,000 after purchasing an additional 578 shares during the last quarter. Proficio Capital Partners LLC purchased a new stake in shares of Ares Management during the 4th quarter valued at about $31,483,000. PNC Financial Services Group Inc. increased its holdings in Ares Management by 128.8% during the 4th quarter. PNC Financial Services Group Inc. now owns 70,424 shares of the asset manager's stock worth $12,467,000 after purchasing an additional 39,650 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Ares Management by 1.8% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 35,644 shares of the asset manager's stock worth $6,310,000 after purchasing an additional 630 shares during the last quarter. Finally, Daiwa Securities Group Inc. grew its position in shares of Ares Management by 2.9% in the 4th quarter. Daiwa Securities Group Inc. now owns 15,358 shares of the asset manager's stock worth $2,719,000 after acquiring an additional 430 shares in the last quarter. Hedge funds and other institutional investors own 50.03% of the company's stock.

Ares Management Stock Performance

ARES stock traded up $2.70 during midday trading on Thursday, reaching $179.67. 341,932 shares of the company were exchanged, compared to its average volume of 1,426,846. Ares Management Corporation has a one year low of $110.63 and a one year high of $200.49. The firm has a market capitalization of $58.68 billion, a price-to-earnings ratio of 105.64, a price-to-earnings-growth ratio of 1.38 and a beta of 1.37. The business has a 50-day moving average price of $168.04 and a two-hundred day moving average price of $166.50. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.07 and a quick ratio of 1.07.

Ares Management (NYSE:ARES - Get Free Report) last issued its quarterly earnings data on Monday, May 5th. The asset manager reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.94 by $0.15. Ares Management had a net margin of 9.73% and a return on equity of 16.29%. The firm had revenue of $951.96 million during the quarter, compared to the consensus estimate of $914.00 million. During the same period last year, the business posted $0.80 earnings per share. Equities research analysts forecast that Ares Management Corporation will post 5.28 EPS for the current year.

Ares Management Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 16th were paid a $1.12 dividend. The ex-dividend date of this dividend was Monday, June 16th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 2.49%. Ares Management's payout ratio is currently 263.53%.

Analysts Set New Price Targets

ARES has been the subject of a number of analyst reports. 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. The Goldman Sachs Group cut their price target on Ares Management from $188.00 to $166.00 and set a "buy" rating for the company in a research note on Thursday, April 3rd. Citizens Jmp raised Ares Management from a "market perform" rating to an "outperform" rating and set a $165.00 target price on the stock in a report on Tuesday, April 8th. TD Cowen reduced their price objective on shares of Ares Management from $216.00 to $161.00 and set a "buy" rating for the company in a report on Wednesday, April 9th. Finally, Bank of America decreased their price target 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. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, Ares Management has an average rating of "Moderate Buy" and an average target price of $176.06.

Insider Activity

In other Ares Management news, Chairman Bennett Rosenthal sold 85,000 shares of the company's stock in a transaction dated Thursday, June 12th. The stock was 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 at the SEC website. Also, CEO Michael J. Arougheti sold 107,500 shares of the stock in a transaction that occurred 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 sale, the chief executive officer directly owned 1,400,000 shares of the company's stock, valued at $225,876,000. This represents a 7.13% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 873,145 shares of company stock valued at $146,204,353. 36.86% of the stock is currently owned by corporate insiders.

About Ares Management

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.