ASR Vermogensbeheer N.V. Invests $579,000 in Ares Management Corporation (NYSE:ARES)

Key Points

• ASR Vermogensbeheer N.V. has acquired a new position in Ares Management Corporation valued at approximately $579,000 by purchasing 3,947 shares in the first quarter.
• Ares Management reported earnings per share (EPS) of $1.03 for the last quarter, missing the consensus estimate of $1.15, while the company had a net revenue of $1.35 billion.
• Insider trading activity included significant sales by David B. Kaplan and Bennett Rosenthal, with a total of 873,145 shares sold worth over $146 million in the last quarter.

ASR Vermogensbeheer N.V. purchased a new position in Ares Management Corporation (NYSE:ARES - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 3,947 shares of the asset manager's stock, valued at approximately $579,000.

A number of other institutional investors also recently bought and sold shares of ARES. Millennium Management LLC lifted its position in Ares Management by 394.8% in the fourth quarter. Millennium Management LLC now owns 766,267 shares of the asset manager's stock worth $135,652,000 after buying an additional 611,414 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Ares Management by 2.0% during the first quarter. Vanguard Group Inc. now owns 19,189,991 shares of the asset manager's stock worth $2,813,445,000 after purchasing an additional 382,273 shares during the last quarter. Lord Abbett & CO. LLC lifted its position in shares of Ares Management by 443.8% during the fourth quarter. Lord Abbett & CO. LLC now owns 383,209 shares of the asset manager's stock worth $67,839,000 after purchasing an additional 312,742 shares during the last quarter. Brown Advisory Inc. lifted its position in shares of Ares Management by 8.8% during the fourth quarter. Brown Advisory Inc. now owns 3,727,597 shares of the asset manager's stock worth $659,896,000 after purchasing an additional 302,303 shares during the last quarter. Finally, Capital World Investors lifted its position in shares of Ares Management by 2.1% during the fourth quarter. Capital World Investors now owns 10,753,779 shares of the asset manager's stock worth $1,903,741,000 after purchasing an additional 223,919 shares during the last quarter. 50.03% of the stock is currently owned by institutional investors.

Ares Management Stock Performance

NYSE ARES traded up $6.13 during trading hours on Tuesday, reaching $192.68. The stock had a trading volume of 1,278,881 shares, compared to its average volume of 1,414,334. The stock has a fifty day moving average of $177.37 and a 200 day moving average of $166.47. The stock has a market cap of $62.92 billion, a P/E ratio of 111.37, a price-to-earnings-growth ratio of 1.46 and a beta of 1.40. Ares Management Corporation has a 52-week low of $110.63 and a 52-week high of $200.49. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.07 and a current ratio of 1.08.

Ares Management (NYSE:ARES - Get Free Report) last issued its earnings results on Friday, August 1st. The asset manager reported $1.03 EPS for the quarter, missing analysts' consensus estimates of $1.15 by ($0.12). The firm had revenue of $1.35 billion during the quarter, compared to analysts' expectations of $1.02 billion. Ares Management had a net margin of 9.47% and a return on equity of 15.81%. During the same quarter in the prior year, the company earned $0.99 EPS. Sell-side analysts predict that Ares Management Corporation will post 5.28 earnings per share for the current year.

Ares Management Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th will be issued a $1.12 dividend. The ex-dividend date of this dividend is Tuesday, September 16th. This represents a $4.48 dividend on an annualized basis and a yield of 2.3%. Ares Management's payout ratio is presently 258.96%.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Wells Fargo & Company lifted their target price on Ares Management from $189.00 to $202.00 and gave the stock an "overweight" rating in a research report on Friday, July 11th. Barclays lifted their price objective on Ares Management from $182.00 to $200.00 and gave the company an "overweight" rating in a report on Thursday, July 10th. Cfra Research upgraded Ares Management to a "moderate buy" rating in a report on Monday, August 4th. Raymond James Financial initiated coverage on Ares Management in a report on Monday, July 28th. They issued a "market perform" rating for the company. Finally, Keefe, Bruyette & Woods lifted their price objective on Ares Management from $193.00 to $203.00 and gave the company an "outperform" rating in a report on Monday, August 4th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $178.19.

Insider Buying and Selling at Ares Management

In other Ares Management news, CEO Michael J. Arougheti sold 182,108 shares of the business's stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $170.07, for a total value of $30,971,107.56. Following the completion of the transaction, the chief executive officer directly owned 350,684 shares of the company's stock, valued at approximately $59,640,827.88. The trade was a 34.18% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider David B. Kaplan sold 62,500 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the insider directly owned 62,500 shares of the company's stock, valued at $10,585,000. The trade was a 50.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 873,145 shares of company stock valued at $146,204,353. 0.52% of the stock is owned by company 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.