Bank of New York Mellon Corp Has $146.25 Million Holdings in Ares Management Corporation (NYSE:ARES)

Bank of New York Mellon Corp lifted its position in Ares Management Corporation (NYSE:ARES - Free Report) by 15.2% during the 1st quarter, according to the company in its most recent 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.

Several other large investors have also made changes to their positions in the company. Redmont Wealth Advisors LLC bought a new stake in Ares Management during the 1st quarter worth about $28,000. Transce3nd LLC bought a new stake in Ares Management during the 4th quarter worth about $29,000. Johnson Financial Group Inc. grew its holdings in Ares Management by 104.8% during the 4th quarter. Johnson Financial Group Inc. now owns 170 shares of the asset manager's stock worth $30,000 after acquiring an additional 87 shares during the last quarter. Elequin Capital LP bought a new stake in Ares Management during the 4th quarter worth about $33,000. Finally, Global Financial Private Client LLC lifted its position in Ares Management by 125.6% during the 1st quarter. Global Financial Private Client LLC now owns 264 shares of the asset manager's stock valued at $39,000 after purchasing an additional 147 shares during the period. Institutional investors own 50.03% of the company's stock.

Insider Activity at Ares Management

In other Ares Management news, CEO Michael J. Arougheti sold 182,108 shares of the firm's stock in a transaction on Friday, May 16th. The stock was sold at an average price of $170.07, for a total transaction of $30,971,107.56. Following the completion of the sale, the chief executive officer owned 350,684 shares of the company's stock, valued at $59,640,827.88. This trade represents a 34.18% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Bennett Rosenthal sold 85,000 shares of Ares Management stock in a transaction 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. Over the last three months, insiders sold 873,145 shares of company stock valued at $146,204,353. 36.86% of the stock is owned by corporate insiders.

Ares Management Stock Up 1.7%

NYSE ARES traded up $3.06 during trading hours on Thursday, reaching $180.03. 980,062 shares of the company's stock were exchanged, compared to its average volume of 1,431,344. The company's 50-day moving average is $168.04 and its two-hundred day moving average is $166.50. 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 quick ratio of 1.07 and a current ratio of 1.07. The company has a market capitalization of $58.79 billion, a price-to-earnings ratio of 105.90, a price-to-earnings-growth ratio of 1.39 and a beta of 1.37.

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 for the quarter, topping the consensus estimate of $0.94 by $0.15. The company had revenue of $951.96 million during the quarter, compared to analysts' expectations 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 last year, the business earned $0.80 EPS. On average, analysts forecast that Ares Management Corporation will post 5.28 EPS for the current fiscal year.

Ares Management Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 16th were paid 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 2.49%. Ares Management's dividend payout ratio is presently 263.53%.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Morgan Stanley cut their target price 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. Oppenheimer downgraded shares of Ares Management from an "outperform" rating to a "market perform" rating in a research report on Thursday, May 15th. Barclays upped their target price on shares of Ares Management from $182.00 to $200.00 and gave the company an "overweight" rating in a research report on Thursday. The Goldman Sachs Group cut their price target on shares of Ares Management from $188.00 to $166.00 and set a "buy" rating on the stock in a research report on Thursday, April 3rd. Finally, Bank of America cut their price target on shares of Ares Management from $221.00 to $201.00 and set a "buy" rating on the stock in a research report on Friday, April 4th. One analyst has rated the stock with a sell rating, four have given a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, Ares Management has an average rating of "Moderate Buy" and a consensus target price of $176.06.

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.