Ares Management Corporation (NYSE:ARES) Position Increased by Concurrent Investment Advisors LLC

Concurrent Investment Advisors LLC raised its stake in shares of Ares Management Corporation (NYSE:ARES - Free Report) by 57.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 9,104 shares of the asset manager's stock after buying an additional 3,319 shares during the quarter. Concurrent Investment Advisors LLC's holdings in Ares Management were worth $1,335,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Huntington National Bank lifted its stake in shares of Ares Management by 9.8% during the 4th 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 increased its holdings in shares of Ares Management by 1.4% during the 4th quarter. Frank Rimerman Advisors LLC now owns 4,775 shares of the asset manager's stock worth $845,000 after buying an additional 65 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings 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 worth $384,000 after purchasing an additional 70 shares during the period. Canton Hathaway LLC raised its holdings in shares of Ares Management by 9.5% in the 1st quarter. Canton Hathaway LLC now owns 865 shares of the asset manager's stock worth $127,000 after purchasing an additional 75 shares during the period. Finally, Bessemer Group Inc. lifted its position in Ares Management by 1.8% during the first quarter. Bessemer Group Inc. now owns 4,360 shares of the asset manager's stock valued at $639,000 after buying an additional 78 shares in the last quarter. Institutional investors and hedge funds own 50.03% of the company's stock.

Ares Management Stock Performance

NYSE ARES traded up $1.69 during trading hours on Wednesday, hitting $176.79. The company had a trading volume of 927,269 shares, compared to its average volume of 1,428,794. 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 quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.61. The business has a fifty day simple moving average of $167.56 and a 200-day simple moving average of $166.42. The firm has a market cap of $57.74 billion, a P/E ratio of 103.99, a price-to-earnings-growth ratio of 1.37 and a beta of 1.37.

Ares Management (NYSE:ARES - Get Free Report) last issued its quarterly earnings data on Monday, May 5th. The asset manager reported $1.09 earnings per share for the quarter, beating the consensus estimate of $0.94 by $0.15. The firm had revenue of $951.96 million for the quarter, compared to the consensus estimate of $914.00 million. Ares Management had a net margin of 9.73% and a return on equity of 16.29%. During the same period last year, the firm posted $0.80 EPS. Equities analysts predict that Ares Management Corporation will post 5.28 EPS for the current year.

Ares Management Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 16th were given 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 dividend yield of 2.53%. Ares Management's dividend payout ratio is presently 263.53%.

Analyst Ratings Changes

A number of analysts have recently issued reports on ARES shares. 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 note on Monday, April 14th. TD Cowen cut their price objective on shares of Ares Management from $216.00 to $161.00 and set a "buy" rating on the stock in a report on Wednesday, April 9th. Wolfe Research set a $193.00 price target on Ares Management and gave the company an "outperform" rating in a report on Tuesday, May 6th. Barclays raised their price target on shares of Ares Management from $142.00 to $182.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 6th. Finally, Citizens Jmp raised shares of Ares Management from a "market perform" rating to an "outperform" rating and set a $165.00 target price for the company in a research report on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and twelve have issued a buy rating to the company's stock. Based on data from MarketBeat, Ares Management has a consensus rating of "Moderate Buy" and an average price target of $174.94.

Insider Transactions at Ares Management

In other Ares Management news, insider David B. Kaplan sold 62,500 shares of the firm's stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $169.36, for a total transaction of $10,585,000.00. Following the transaction, the insider owned 62,500 shares of the company's stock, valued at approximately $10,585,000. This trade represents a 50.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Bennett Rosenthal sold 85,000 shares of the business's stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $168.79, for a total value of $14,347,150.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 873,145 shares of company stock worth $146,204,353. Company 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.