Bank of New York Mellon Corp Purchases 131,841 Shares of Ares Management Corporation (NYSE:ARES)

Bank of New York Mellon Corp raised its holdings in Ares Management Corporation (NYSE:ARES - Free Report) by 15.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 997,548 shares of the asset manager's stock after purchasing an additional 131,841 shares during the quarter. Bank of New York Mellon Corp owned 0.32% of Ares Management worth $146,250,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Transce3nd LLC acquired a new stake in Ares Management in the 4th quarter valued at approximately $29,000. Johnson Financial Group Inc. grew its position in Ares Management by 104.8% during the fourth quarter. Johnson Financial Group Inc. now owns 170 shares of the asset manager's stock worth $30,000 after buying an additional 87 shares during the period. Elequin Capital LP purchased a new stake in shares of Ares Management in the fourth quarter valued at about $33,000. Redmont Wealth Advisors LLC purchased a new position in shares of Ares Management during the first quarter valued at approximately $28,000. Finally, Global Financial Private Client LLC increased its position in Ares Management by 125.6% during the first quarter. Global Financial Private Client LLC now owns 264 shares of the asset manager's stock worth $39,000 after purchasing an additional 147 shares during the last quarter. 50.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on ARES shares. Bank of America lowered their price target on shares of Ares Management from $221.00 to $201.00 and set a "buy" rating for the company in a report on Friday, April 4th. Barclays boosted their price objective on shares of Ares Management from $182.00 to $200.00 and gave the company an "overweight" rating in a research report on Thursday. Citizens Jmp raised shares of Ares Management from a "market perform" rating to an "outperform" rating and set a $165.00 target price on the stock in a research report on Tuesday, April 8th. Wells Fargo & Company upped their target price on shares of Ares Management from $189.00 to $202.00 and gave the stock an "overweight" rating in a report on Friday. Finally, Morgan Stanley cut their price target on shares of Ares Management from $197.00 to $152.00 and set an "equal weight" rating on the stock in a research report on Monday, April 14th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $176.88.

Ares Management Stock Performance

ARES stock traded down $2.73 during midday trading on Friday, reaching $177.40. 713,906 shares of the company were exchanged, compared to its average volume of 1,430,542. Ares Management Corporation has a one year low of $110.63 and a one year high of $200.49. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.07 and a quick ratio of 1.07. The firm has a market capitalization of $57.94 billion, a price-to-earnings ratio of 104.35, a price-to-earnings-growth ratio of 1.45 and a beta of 1.37. The business has a 50-day moving average price of $168.99 and a two-hundred day moving average price of $166.48.

Ares Management (NYSE:ARES - Get Free Report) last posted its quarterly earnings results on Monday, May 5th. The asset manager reported $1.09 EPS for the quarter, beating analysts' consensus estimates of $0.94 by $0.15. The business had revenue of $951.96 million during the quarter, compared to the consensus estimate of $914.00 million. Ares Management had a return on equity of 16.29% and a net margin of 9.73%. During the same quarter in the previous year, the firm earned $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 announced a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 16th were issued a $1.12 dividend. 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 presently 263.53%.

Insider Activity at Ares Management

In other Ares Management news, CEO Michael J. Arougheti sold 107,500 shares of the business's stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $161.34, for a total value of $17,344,050.00. Following the transaction, the chief executive officer directly owned 1,400,000 shares of the company's stock, valued at approximately $225,876,000. The trade was a 7.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Bennett Rosenthal sold 85,000 shares of the company'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 value of $14,347,150.00. The disclosure for this sale can be found here. Insiders have sold 873,145 shares of company stock worth $146,204,353 over the last ninety days. Insiders own 36.86% of the company's stock.

Ares Management 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.