Blue Trust Inc. Grows Holdings in Ares Management Corporation (NYSE:ARES)

Blue Trust Inc. boosted its position in shares of Ares Management Corporation (NYSE:ARES - Free Report) by 257.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,509 shares of the asset manager's stock after purchasing an additional 3,249 shares during the period. Blue Trust Inc.'s holdings in Ares Management were worth $661,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Huntington National Bank raised its stake in Ares Management by 9.8% during the fourth quarter. Huntington National Bank now owns 704 shares of the asset manager's stock worth $125,000 after purchasing an additional 63 shares during the period. Frank Rimerman Advisors LLC raised its stake in shares of Ares Management by 1.4% in the 4th quarter. Frank Rimerman Advisors LLC now owns 4,775 shares of the asset manager's stock valued at $845,000 after acquiring an additional 65 shares during the period. Keybank National Association OH raised its stake in shares of Ares Management by 1.6% in the 4th quarter. Keybank National Association OH now owns 4,303 shares of the asset manager's stock valued at $762,000 after acquiring an additional 69 shares during the period. EverSource Wealth Advisors LLC raised its stake in shares of Ares Management by 3.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 2,168 shares of the asset manager's stock valued at $384,000 after acquiring an additional 70 shares during the period. Finally, Lindbrook Capital LLC raised its stake in shares of Ares Management by 15.8% in the 4th quarter. Lindbrook Capital LLC now owns 519 shares of the asset manager's stock valued at $92,000 after acquiring an additional 71 shares during the period. 50.03% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Chairman Bennett Rosenthal sold 85,000 shares of the company's stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $168.79, for a total value of $14,347,150.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael J. Arougheti sold 110,845 shares of the company's stock in a transaction on Monday, March 24th. The shares were sold at an average price of $153.17, for a total transaction of $16,978,128.65. Following the completion of the transaction, the chief executive officer now owns 1,400,000 shares of the company's stock, valued at approximately $214,438,000. The trade was a 7.34% decrease in their position. The disclosure for this sale can be found here. Insiders sold 983,990 shares of company stock worth $163,182,482 in the last 90 days. Corporate insiders own 0.52% of the company's stock.

Ares Management Stock Down 0.8%

NYSE ARES traded down $1.42 on Friday, hitting $165.93. 2,491,584 shares of the stock were exchanged, compared to its average volume of 1,426,690. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.61. 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 market cap of $54.19 billion, a PE ratio of 97.60, a PEG ratio of 1.30 and a beta of 1.38. The company has a 50-day moving average price of $160.75 and a 200-day moving average price of $166.78.

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, topping the consensus estimate of $0.94 by $0.15. Ares Management had a net margin of 9.73% and a return on equity of 16.29%. The company had revenue of $951.96 million during the quarter, compared to analysts' expectations of $914.00 million. During the same quarter in the previous year, the business posted $0.80 EPS. Sell-side analysts anticipate that Ares Management Corporation will post 5.28 EPS for the current fiscal year.

Ares Management Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be issued a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a yield of 2.70%. The ex-dividend date is Monday, June 16th. Ares Management's dividend payout ratio (DPR) is presently 263.53%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on ARES shares. Barclays boosted their price target on shares of Ares Management from $142.00 to $182.00 and gave the company an "overweight" rating in a research note on Tuesday, May 6th. Oppenheimer downgraded shares of Ares Management from an "outperform" rating to a "market perform" rating in a research note on Thursday, May 15th. The Goldman Sachs Group reduced 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. TD Cowen reduced their price target on shares of Ares Management from $216.00 to $161.00 and set a "buy" rating on the stock in a research note on Wednesday, April 9th. Finally, JMP Securities boosted their price target on shares of Ares Management from $165.00 to $185.00 and gave the company a "market outperform" rating in a research note on Thursday, May 8th. One 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 data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $174.94.

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.