Stephens Inc. AR raised its position in shares of Ares Management Corporation (NYSE:ARES - Free Report) by 3.3% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 57,157 shares of the asset manager's stock after purchasing an additional 1,850 shares during the quarter. Stephens Inc. AR's holdings in Ares Management were worth $8,380,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Ares Management during the 4th quarter valued at $381,365,000. TD Asset Management Inc. lifted its position in shares of Ares Management by 4,557.2% during the 4th quarter. TD Asset Management Inc. now owns 1,304,759 shares of the asset manager's stock valued at $230,981,000 after acquiring an additional 1,276,743 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Ares Management by 5.1% during the 4th quarter. Vanguard Group Inc. now owns 18,807,718 shares of the asset manager's stock valued at $3,329,530,000 after acquiring an additional 907,757 shares during the last quarter. FMR LLC lifted its position in shares of Ares Management by 12.8% during the 4th quarter. FMR LLC now owns 7,109,070 shares of the asset manager's stock valued at $1,258,519,000 after acquiring an additional 807,361 shares during the last quarter. Finally, Millennium Management LLC lifted its position in shares of Ares Management by 394.8% during the 4th quarter. Millennium Management LLC now owns 766,267 shares of the asset manager's stock valued at $135,652,000 after acquiring an additional 611,414 shares during the last quarter. 50.03% of the stock is owned by institutional investors.
Ares Management Trading Down 1.5%
NYSE ARES opened at $177.40 on Monday. Ares Management Corporation has a 1-year low of $110.63 and a 1-year high of $200.49. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.61. The company has a market capitalization of $57.94 billion, a PE ratio of 104.35, a price-to-earnings-growth ratio of 1.45 and a beta of 1.37. The firm's fifty day simple moving average is $168.99 and its 200-day simple moving average is $166.26.
Ares Management (NYSE:ARES - Get Free Report) last posted its quarterly earnings results on Monday, May 5th. The asset manager reported $1.09 earnings per share for the quarter, topping analysts' consensus estimates of $0.94 by $0.15. The business had revenue of $951.96 million for the quarter, compared to the consensus estimate of $914.00 million. Ares Management had a net margin of 9.73% and a return on equity of 16.29%. During the same period in the prior year, the business posted $0.80 earnings per share. As a group, sell-side analysts anticipate that Ares Management Corporation will post 5.28 earnings per share for the current fiscal year.
Ares Management Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 16th were given a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a yield of 2.53%. The ex-dividend date was Monday, June 16th. Ares Management's payout ratio is 263.53%.
Insiders Place Their Bets
In other Ares Management news, CEO Michael J. Arougheti sold 182,108 shares of the stock in a transaction on Friday, May 16th. The shares were sold at an average price of $170.07, for a total transaction of $30,971,107.56. Following the transaction, the chief executive officer directly owned 350,684 shares of the company's stock, valued at $59,640,827.88. This represents a 34.18% decrease in their ownership of the stock. The transaction 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 company's stock in a transaction dated Thursday, June 12th. The shares were 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. Insiders have sold 873,145 shares of company stock valued at $146,204,353 over the last three months. 0.52% of the stock is currently owned by insiders.
Analyst Upgrades and Downgrades
A number of brokerages have recently commented on ARES. Bank of America cut their price objective on Ares Management from $221.00 to $201.00 and set a "buy" rating for the company in a research report on Friday, April 4th. JMP Securities increased their price objective on Ares Management from $165.00 to $185.00 and gave the company a "market outperform" rating in a research report on Thursday, May 8th. Wolfe Research set a $193.00 target price on Ares Management and gave the company an "outperform" rating in a report on Tuesday, May 6th. Wells Fargo & Company increased their target price on Ares Management from $189.00 to $202.00 and gave the company an "overweight" rating in a report on Friday. Finally, The Goldman Sachs Group reduced their target price on Ares Management from $188.00 to $166.00 and set a "buy" rating for the company in a report on Thursday, April 3rd. One analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $176.88.
Check Out Our Latest Stock Analysis on ARES
Ares Management Company Profile
(
Free Report)
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.
See Also
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).
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