Ares Management Corporation (NYSE:ARES) Stock Position Lowered by Universal Beteiligungs und Servicegesellschaft mbH

Key Points

• Universal Beteiligungs und Servicegesellschaft mbH reduced its stake in Ares Management Corporation by 24.6%, now holding 53,273 shares worth approximately $7.81 million.
• Several institutional investors have increased their positions in Ares Management, with notable boosts from Huntington National Bank and Canton Hathaway LLC, reflecting ongoing institutional interest in the stock.
• Ares Management recently reported earnings per share of $1.09, surpassing analysts' expectations and indicating strong revenue performance, with a quarterly revenue of $951.96 million.

Universal Beteiligungs und Servicegesellschaft mbH lowered its stake in Ares Management Corporation (NYSE:ARES - Free Report) by 24.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 53,273 shares of the asset manager's stock after selling 17,354 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH's holdings in Ares Management were worth $7,810,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of ARES. IFP Advisors Inc increased its position in Ares Management by 129.6% during the first quarter. IFP Advisors Inc now owns 1,988 shares of the asset manager's stock worth $291,000 after buying an additional 1,122 shares during the period. Cambridge Investment Research Advisors Inc. increased its position in Ares Management by 40.7% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 7,960 shares of the asset manager's stock worth $1,167,000 after buying an additional 2,302 shares during the period. Stratos Wealth Partners LTD. increased its position in Ares Management by 4.2% during the first quarter. Stratos Wealth Partners LTD. now owns 53,401 shares of the asset manager's stock worth $7,829,000 after buying an additional 2,171 shares during the period. Robeco Institutional Asset Management B.V. acquired a new position in Ares Management during the first quarter worth approximately $667,000. Finally, Oppenheimer & Co. Inc. increased its position in Ares Management by 5.4% during the first quarter. Oppenheimer & Co. Inc. now owns 39,270 shares of the asset manager's stock worth $5,757,000 after buying an additional 1,995 shares during the period. Institutional investors and hedge funds own 50.03% of the company's stock.

Insider Transactions at Ares Management

In related news, Chairman Bennett Rosenthal sold 85,000 shares of the business's stock in a transaction that occurred 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider David B. Kaplan sold 62,500 shares of Ares Management 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 sale, the insider directly owned 62,500 shares in the company, valued at $10,585,000. The trade was a 50.00% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 873,145 shares of company stock worth $146,204,353. 36.86% of the stock is currently owned by corporate insiders.

Ares Management Trading Down 0.0%

Shares of Ares Management stock traded down $0.06 during trading hours on Wednesday, reaching $187.87. The stock had a trading volume of 951,777 shares, compared to its average volume of 1,275,224. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.61. Ares Management Corporation has a 1 year low of $110.63 and a 1 year high of $200.49. The firm has a market capitalization of $61.35 billion, a price-to-earnings ratio of 110.51, a P/E/G ratio of 1.54 and a beta of 1.37. The firm has a 50 day simple moving average of $173.07 and a two-hundred day simple moving average of $166.73.

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 for the quarter, beating analysts' consensus estimates of $0.94 by $0.15. Ares Management had a return on equity of 16.29% and a net margin of 9.73%. The firm had revenue of $951.96 million during the quarter, compared to analyst estimates of $914.00 million. During the same quarter last year, the firm earned $0.80 EPS. As a group, equities research analysts anticipate that Ares Management Corporation will post 5.28 earnings per share for the current year.

Ares Management Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 16th were given a $1.12 dividend. The ex-dividend date of this dividend was Monday, June 16th. This represents a $4.48 annualized dividend and a dividend yield of 2.38%. Ares Management's payout ratio is 263.53%.

Analysts Set New Price Targets

ARES has been the topic of several research analyst reports. JMP Securities set a $195.00 price target on Ares Management and gave the stock a "market outperform" rating in a research report on Monday, July 14th. Barclays upped their target price on Ares Management from $182.00 to $200.00 and gave the company an "overweight" rating in a report on Thursday, July 10th. The Goldman Sachs Group lowered their target price on Ares Management from $188.00 to $166.00 and set a "buy" rating on the stock in a report on Thursday, April 3rd. Citigroup restated an "outperform" rating on shares of Ares Management in a research report on Monday, July 14th. Finally, Citizens Jmp upgraded Ares Management from a "market perform" rating to an "outperform" rating and set a $165.00 price objective on the stock in a research report on Tuesday, April 8th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $177.50.

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.