Ares Management Corporation (NYSE:ARES) Shares Bought by Choreo LLC

Choreo LLC increased its stake in Ares Management Corporation (NYSE:ARES - Free Report) by 132.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,151 shares of the asset manager's stock after buying an additional 6,354 shares during the period. Choreo LLC's holdings in Ares Management were worth $1,635,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank purchased a new stake in shares of Ares Management during the fourth quarter valued at approximately $381,365,000. FMR LLC grew its holdings in shares of Ares Management by 12.8% during the fourth quarter. FMR LLC now owns 7,109,070 shares of the asset manager's stock valued at $1,258,519,000 after buying an additional 807,361 shares during the last quarter. Millennium Management LLC grew its holdings in shares of Ares Management by 394.8% during the fourth quarter. Millennium Management LLC now owns 766,267 shares of the asset manager's stock valued at $135,652,000 after buying an additional 611,414 shares during the last quarter. Lord Abbett & CO. LLC grew its holdings in shares of Ares Management by 443.8% during the fourth quarter. Lord Abbett & CO. LLC now owns 383,209 shares of the asset manager's stock valued at $67,839,000 after buying an additional 312,742 shares during the last quarter. Finally, Clearbridge Investments LLC grew its holdings in shares of Ares Management by 31.1% during the fourth quarter. Clearbridge Investments LLC now owns 1,290,741 shares of the asset manager's stock valued at $228,500,000 after buying an additional 306,181 shares during the last quarter. 50.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Ares Management

In other news, Chairman Bennett Rosenthal sold 85,000 shares of Ares Management 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 SEC, which can be accessed through this hyperlink. Also, CEO Michael J. Arougheti sold 107,500 shares of Ares Management stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $161.34, for a total transaction of $17,344,050.00. Following the completion of the transaction, the chief executive officer directly owned 1,400,000 shares in the company, 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. Insiders have sold a total of 873,145 shares of company stock valued at $146,204,353 over the last 90 days. 36.86% of the stock is owned by corporate insiders.

Ares Management Trading Up 0.2%

Shares of ARES traded up $0.34 during mid-day trading on Monday, reaching $186.56. The stock had a trading volume of 241,333 shares, compared to its average volume of 1,660,139. 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 52-week low of $110.63 and a 52-week high of $200.49. The business's fifty day moving average is $171.68 and its 200 day moving average is $166.35. The firm has a market cap of $60.93 billion, a price-to-earnings ratio of 109.78, a P/E/G ratio of 1.52 and a beta of 1.37.

Ares Management (NYSE:ARES - Get Free Report) last announced its 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 analyst estimates of $914.00 million. Ares Management had a net margin of 9.73% and a return on equity of 16.29%. During the same quarter last year, the firm posted $0.80 earnings per share. On average, sell-side analysts predict 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 issued a $1.12 dividend. The ex-dividend date of this dividend was Monday, June 16th. This represents a $4.48 annualized dividend and a yield of 2.40%. Ares Management's dividend payout ratio (DPR) is 263.53%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on ARES. Wells Fargo & Company increased their price objective on shares of Ares Management from $189.00 to $202.00 and gave the company an "overweight" rating in a research report on Friday, July 11th. TD Cowen decreased 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 report on Wednesday, April 9th. JMP Securities set a $195.00 price target on shares of Ares Management and gave the stock a "market outperform" rating in a research report on Monday, July 14th. Bank of America decreased 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. Finally, Morgan Stanley decreased their price target 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 analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, Ares Management has a consensus rating of "Moderate Buy" and an average price target of $177.50.

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.