Beverly Hills Private Wealth LLC Acquires 2,059 Shares of Ares Management Corporation $ARES

Key Points

• Beverly Hills Private Wealth LLC increased its stake in Ares Management Corporation by 60.3%, acquiring an additional 2,059 shares for a total holding of 5,475 shares valued at approximately $948,000.
• Ares Management's quarterly earnings report revealed an EPS of $1.03, missing the consensus estimate by $0.12, though revenue surpassed expectations at $1.35 billion.
• The company declared a $1.12 quarterly dividend, yielding 3.2%, but has a high dividend payout ratio of 258.96%.

Beverly Hills Private Wealth LLC grew its holdings in shares of Ares Management Corporation (NYSE:ARES - Free Report) by 60.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,475 shares of the asset manager's stock after buying an additional 2,059 shares during the period. Beverly Hills Private Wealth LLC's holdings in Ares Management were worth $948,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of ARES. Vanguard Group Inc. boosted its holdings in shares of Ares Management by 2.0% during the 1st quarter. Vanguard Group Inc. now owns 19,189,991 shares of the asset manager's stock valued at $2,813,445,000 after buying an additional 382,273 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Ares Management by 24.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,208,292 shares of the asset manager's stock valued at $177,148,000 after buying an additional 240,564 shares in the last quarter. Strs Ohio bought a new position in Ares Management in the 1st quarter worth about $26,350,000. Westfield Capital Management Co. LP boosted its stake in Ares Management by 18.3% in the 1st quarter. Westfield Capital Management Co. LP now owns 1,128,415 shares of the asset manager's stock worth $165,437,000 after purchasing an additional 174,645 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its stake in Ares Management by 4.8% in the 1st quarter. Principal Financial Group Inc. now owns 3,354,032 shares of the asset manager's stock worth $491,735,000 after purchasing an additional 152,169 shares in the last quarter. Institutional investors own 50.03% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on ARES. Wells Fargo & Company upped their price target on shares of Ares Management from $189.00 to $202.00 and gave the stock an "overweight" rating in a research note on Friday, July 11th. Citigroup reiterated an "outperform" rating on shares of Ares Management in a research note on Monday, July 14th. Weiss Ratings reiterated a "hold (c)" rating on shares of Ares Management in a research note on Tuesday, October 14th. Barclays dropped their price target on shares of Ares Management from $200.00 to $187.00 and set an "overweight" rating on the stock in a research note on Wednesday, October 8th. Finally, BMO Capital Markets began coverage on shares of Ares Management in a research note on Friday, October 3rd. They issued a "market perform" rating and a $156.00 price target on the stock. Fourteen equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat.com, Ares Management presently has a consensus rating of "Moderate Buy" and an average price target of $181.31.

Insider Transactions at Ares Management

In related news, Chairman Antony P. Ressler sold 128,837 shares of the stock in a transaction that occurred on Wednesday, September 10th. The shares were sold at an average price of $178.30, for a total value of $22,971,637.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Over the last ninety days, insiders have sold 2,590,000 shares of company stock valued at $464,430,639. Corporate insiders own 0.52% of the company's stock.

Ares Management Price Performance

Shares of NYSE:ARES opened at $141.74 on Monday. Ares Management Corporation has a fifty-two week low of $110.63 and a fifty-two week high of $200.49. The firm has a market cap of $46.31 billion, a price-to-earnings ratio of 81.93, a price-to-earnings-growth ratio of 1.12 and a beta of 1.43. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.08 and a current ratio of 1.08. The business has a 50-day simple moving average of $170.97 and a two-hundred day simple moving average of $167.34.

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

Ares Management Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th were given a dividend of $1.12 per share. The ex-dividend date of this dividend was Tuesday, September 16th. This represents a $4.48 annualized dividend and a dividend yield of 3.2%. Ares Management's dividend payout ratio is presently 258.96%.

About Ares Management

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.

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