Ares Management Corporation (NYSE:ARES) Shares Purchased by Chilton Capital Management LLC

Chilton Capital Management LLC lifted its holdings in Ares Management Corporation (NYSE:ARES - Free Report) by 58.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 214,659 shares of the asset manager's stock after acquiring an additional 79,481 shares during the period. Ares Management accounts for approximately 1.4% of Chilton Capital Management LLC's holdings, making the stock its 24th biggest holding. Chilton Capital Management LLC owned 0.07% of Ares Management worth $31,471,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Ares Management during the fourth quarter worth $381,365,000. TD Asset Management Inc. increased its stake in shares of Ares Management by 4,557.2% during the fourth quarter. TD Asset Management Inc. now owns 1,304,759 shares of the asset manager's stock worth $230,981,000 after purchasing an additional 1,276,743 shares in the last quarter. Vanguard Group Inc. boosted its position in Ares Management by 5.1% during the fourth 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 last quarter. FMR LLC boosted its position in Ares Management by 12.8% during the fourth 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 boosted its position in Ares Management by 394.8% during the fourth 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 hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ARES has been the topic of several recent analyst reports. Wolfe Research set a $193.00 target price on shares of Ares Management and gave the company an "outperform" rating in a report on Tuesday, May 6th. 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. The Goldman Sachs Group cut their target price 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. JMP Securities increased their price objective on shares of Ares Management from $165.00 to $185.00 and gave the company a "market outperform" rating in a research report on Thursday, May 8th. Finally, Morgan Stanley dropped their price objective 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 equities research analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $174.94.

Ares Management Stock Performance

Shares of ARES stock traded up $1.69 during mid-day trading on Wednesday, hitting $176.79. The stock had a trading volume of 925,246 shares, compared to its average volume of 1,698,792. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.07 and a quick ratio of 1.07. Ares Management Corporation has a fifty-two week low of $110.63 and a fifty-two week high of $200.49. The company's 50-day simple moving average is $167.56 and its 200-day simple moving average is $166.42. The firm has a market cap of $57.74 billion, a PE ratio of 103.99, a PEG ratio of 1.37 and a beta of 1.37.

Ares Management (NYSE:ARES - Get Free Report) last announced its quarterly earnings data on Monday, May 5th. The asset manager reported $1.09 EPS for the quarter, beating 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 firm had revenue of $951.96 million during the quarter, compared to analysts' expectations of $914.00 million. During the same quarter last year, the business earned $0.80 earnings per share. Sell-side analysts anticipate that Ares Management Corporation will post 5.28 earnings per share for the current year.

Ares Management Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 16th were issued a dividend of $1.12 per share. The ex-dividend date of this dividend was Monday, June 16th. This represents a $4.48 annualized dividend and a yield of 2.53%. Ares Management's dividend payout ratio (DPR) is currently 263.53%.

Insider Buying and Selling at Ares Management

In related news, insider David B. Kaplan sold 62,500 shares of the business's stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $169.36, for a total value of $10,585,000.00. Following the completion of the sale, the insider directly owned 62,500 shares in the company, valued at approximately $10,585,000. The trade was a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Bennett Rosenthal sold 85,000 shares of the business's stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $168.79, for a total transaction of $14,347,150.00. The disclosure for this sale can be found here. In the last three months, insiders sold 873,145 shares of company stock worth $146,204,353. 0.52% of the stock is owned by corporate insiders.

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.