Beverly Hills Private Wealth LLC Takes $501,000 Position in Ares Management Corporation (NYSE:ARES)

Beverly Hills Private Wealth LLC acquired a new position in shares of Ares Management Corporation (NYSE:ARES - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 3,416 shares of the asset manager's stock, valued at approximately $501,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Norges Bank bought a new position in Ares Management during the fourth quarter worth about $381,365,000. TD Asset Management Inc. lifted its position in shares of Ares Management by 4,557.2% in the fourth quarter. TD Asset Management Inc. now owns 1,304,759 shares of the asset manager's stock valued at $230,981,000 after buying an additional 1,276,743 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Ares Management by 5.1% during the 4th quarter. Vanguard Group Inc. now owns 18,807,718 shares of the asset manager's stock worth $3,329,530,000 after acquiring an additional 907,757 shares during the period. FMR LLC increased its holdings in shares of Ares Management by 12.8% during the 4th quarter. FMR LLC now owns 7,109,070 shares of the asset manager's stock worth $1,258,519,000 after acquiring an additional 807,361 shares during the last quarter. Finally, Millennium Management LLC increased its holdings in shares of Ares Management by 394.8% during the 4th quarter. Millennium Management LLC now owns 766,267 shares of the asset manager's stock worth $135,652,000 after acquiring an additional 611,414 shares during the last quarter. 50.03% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have issued reports on ARES. Bank of America cut their price target on Ares Management from $221.00 to $201.00 and set a "buy" rating for the company in a report on Friday, April 4th. TD Cowen cut their target price on shares of Ares Management from $216.00 to $161.00 and set a "buy" rating for the company in a research note on Wednesday, April 9th. The Goldman Sachs Group decreased 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 note on Thursday, April 3rd. Wells Fargo & Company raised their price objective on shares of Ares Management from $182.00 to $189.00 and gave the stock an "overweight" rating in a research report on Friday, May 23rd. Finally, Morgan Stanley decreased their target price on 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 issued a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $174.94.

Ares Management Stock Performance

NYSE:ARES opened at $174.86 on Tuesday. The company has a market cap of $57.11 billion, a price-to-earnings ratio of 102.86, a PEG ratio of 1.40 and a beta of 1.37. Ares Management Corporation has a fifty-two week low of $110.63 and a fifty-two week 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 stock has a fifty day moving average price of $167.11 and a 200-day moving average price of $166.36.

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. As a group, equities analysts anticipate that Ares Management Corporation will post 5.28 EPS for the current fiscal year.

Ares Management Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 16th were issued a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a dividend yield of 2.56%. The ex-dividend date of this dividend was Monday, June 16th. Ares Management's dividend payout ratio (DPR) is presently 263.53%.

Insider Buying and Selling

In other Ares Management news, insider David B. Kaplan sold 33,145 shares of the business's stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $165.12, for a total transaction of $5,472,902.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Michael J. Arougheti sold 107,500 shares of the company's stock in a transaction 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 sale, the chief executive officer owned 1,400,000 shares of the company's stock, valued at $225,876,000. The trade was a 7.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 873,145 shares of company stock worth $146,204,353. Corporate insiders own 0.52% 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.

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