Asset Management One Co. Ltd. Grows Position in Ares Management Corporation (NYSE:ARES)

Asset Management One Co. Ltd. increased its holdings in shares of Ares Management Corporation (NYSE:ARES - Free Report) by 2.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 74,087 shares of the asset manager's stock after acquiring an additional 2,022 shares during the period. Asset Management One Co. Ltd.'s holdings in Ares Management were worth $10,862,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ARES. Global Retirement Partners LLC grew its holdings in Ares Management by 48.0% during the fourth quarter. Global Retirement Partners LLC now owns 435 shares of the asset manager's stock worth $77,000 after acquiring an additional 141 shares during the period. Wealthspire Advisors LLC grew its holdings in Ares Management by 35.8% during the fourth quarter. Wealthspire Advisors LLC now owns 2,236 shares of the asset manager's stock worth $396,000 after acquiring an additional 590 shares during the period. IFP Advisors Inc grew its holdings in Ares Management by 61.3% in the fourth quarter. IFP Advisors Inc now owns 866 shares of the asset manager's stock valued at $153,000 after purchasing an additional 329 shares during the last quarter. NewEdge Wealth LLC grew its holdings in Ares Management by 14.8% in the fourth quarter. NewEdge Wealth LLC now owns 8,053 shares of the asset manager's stock valued at $1,426,000 after purchasing an additional 1,038 shares during the last quarter. Finally, Oppenheimer & Co. Inc. grew its holdings in Ares Management by 68.3% in the fourth quarter. Oppenheimer & Co. Inc. now owns 37,275 shares of the asset manager's stock valued at $6,599,000 after purchasing an additional 15,124 shares during the last quarter. Institutional investors and hedge funds own 50.03% of the company's stock.

Analyst Upgrades and Downgrades

ARES has been the topic of several research reports. TD Cowen lowered their target price on Ares Management from $216.00 to $161.00 and set a "buy" rating on the stock in a report on Wednesday, April 9th. Bank of America lowered their target price on Ares Management from $221.00 to $201.00 and set a "buy" rating on the stock in a report on Friday, April 4th. Barclays upped their target price on Ares Management from $142.00 to $182.00 and gave the company an "overweight" rating in a report on Tuesday, May 6th. Wells Fargo & Company upped their target price on Ares Management from $182.00 to $189.00 and gave the company an "overweight" rating in a report on Friday, May 23rd. Finally, 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. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, Ares Management currently has a consensus rating of "Moderate Buy" and a consensus target price of $174.94.

Ares Management Price Performance

Shares of ARES traded up $2.18 during trading hours on Friday, reaching $173.29. 1,591,507 shares of the company traded hands, compared to its average volume of 1,419,574. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.61. The stock has a market capitalization of $56.59 billion, a PE ratio of 101.94, a price-to-earnings-growth ratio of 1.33 and a beta of 1.38. Ares Management Corporation has a fifty-two week low of $110.63 and a fifty-two week high of $200.49. The stock has a fifty day simple moving average of $163.04 and a 200 day simple moving average of $166.63.

Ares Management (NYSE:ARES - Get Free Report) last issued 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. 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 for the quarter, compared to analyst estimates of $914.00 million. During the same period last year, the company earned $0.80 EPS. As a group, research analysts predict that Ares Management Corporation will post 5.28 EPS for the current fiscal year.

Ares Management Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be paid a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a yield of 2.59%. The ex-dividend date is Monday, June 16th. Ares Management's payout ratio is 263.53%.

Insiders Place Their Bets

In other news, insider David B. Kaplan sold 33,145 shares of the firm's stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $165.12, for a total value of $5,472,902.40. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Bennett Rosenthal sold 40,000 shares of the firm's stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $169.37, for a total value of $6,774,800.00. Following the completion of the transaction, the chairman now owns 85,000 shares in the company, valued at approximately $14,396,450. This trade represents a 32.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 873,145 shares of company stock valued at $146,204,353. Insiders own 36.86% of the company's stock.

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.