1,410 Shares in Ares Management Corporation $ARES Purchased by CreativeOne Wealth LLC

Key Points

• CreativeOne Wealth LLC acquired 1,410 shares of Ares Management, valued at approximately $207,000, as part of its first-quarter investment strategy.
• Ares Management reported $1.03 earnings per share, missing analyst expectations, while its revenue for the quarter was $1.35 billion, exceeding estimates of $1.02 billion.
• The company announced a quarterly dividend of $1.12 per share, with a significant annualized payout ratio of 258.96% and a yield of 2.5%.

CreativeOne Wealth LLC purchased a new stake in Ares Management Corporation (NYSE:ARES - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 1,410 shares of the asset manager's stock, valued at approximately $207,000.

A number of other hedge funds have also recently bought and sold shares of ARES. Caisse DE Depot ET Placement DU Quebec acquired a new stake in Ares Management during the 1st quarter worth approximately $2,309,000. Quantitative Investment Management LLC bought a new stake in Ares Management during the 1st quarter worth $634,000. Smartleaf Asset Management LLC grew its position in Ares Management by 9.1% during the 1st quarter. Smartleaf Asset Management LLC now owns 746 shares of the asset manager's stock worth $108,000 after acquiring an additional 62 shares during the last quarter. AlphaQuest LLC bought a new stake in Ares Management during the 1st quarter worth $143,000. Finally, Kestra Advisory Services LLC lifted its holdings in Ares Management by 29.3% during the 1st quarter. Kestra Advisory Services LLC now owns 8,312 shares of the asset manager's stock worth $1,219,000 after buying an additional 1,885 shares during the period. 50.03% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Ares Management news, Chairman Antony P. Ressler sold 176,784 shares of the firm's stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $177.05, for a total transaction of $31,299,607.20. Following the sale, the chairman directly owned 400,578 shares of the company's stock, valued at $70,922,334.90. This trade represents a 30.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael J. Arougheti sold 44,760 shares of the stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $178.19, for a total transaction of $7,975,784.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,274,422 shares of company stock valued at $408,064,869. Company insiders own 36.86% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on ARES. Barclays boosted their price objective on Ares Management from $182.00 to $200.00 and gave the company an "overweight" rating in a research note on Thursday, July 10th. Keefe, Bruyette & Woods boosted their price objective on Ares Management from $193.00 to $203.00 and gave the stock an "outperform" rating in a report on Monday, August 4th. Royal Bank Of Canada upped their target price on Ares Management from $195.00 to $215.00 and gave the company an "outperform" rating in a report on Monday, August 18th. JMP Securities upped their target price on Ares Management from $195.00 to $205.00 and gave the company a "market outperform" rating in a report on Wednesday, August 6th. Finally, Wells Fargo & Company upped their price objective on Ares Management from $189.00 to $202.00 and gave the company an "overweight" rating in a research note on Friday, July 11th. Thirteen analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, Ares Management presently has a consensus rating of "Moderate Buy" and an average price target of $182.73.

Ares Management Trading Down 1.5%

Shares of Ares Management stock traded down $2.68 during trading on Friday, reaching $177.37. 1,638,780 shares of the stock were exchanged, compared to its average volume of 1,245,163. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.64. The stock's fifty day moving average is $181.89 and its 200 day moving average is $165.51. The firm has a market cap of $57.95 billion, a price-to-earnings ratio of 102.53, a price-to-earnings-growth ratio of 1.41 and a beta of 1.44. Ares Management Corporation has a 1 year low of $110.63 and a 1 year high of $200.49.

Ares Management (NYSE:ARES - Get Free Report) last released its earnings results on Friday, August 1st. The asset manager reported $1.03 earnings per share for the quarter, missing analysts' consensus estimates of $1.15 by ($0.12). Ares Management had a return on equity of 15.81% and a net margin of 9.47%.The business had revenue of $1.35 billion during the quarter, compared to analysts' expectations of $1.02 billion. During the same period in the prior year, the company earned $0.99 earnings per share. As a group, equities research analysts expect that Ares Management Corporation will post 5.28 earnings per share for the current fiscal year.

Ares Management Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th will be paid a dividend of $1.12 per share. The ex-dividend date is Tuesday, September 16th. This represents a $4.48 dividend on an annualized basis and a yield of 2.5%. Ares Management's payout ratio is currently 258.96%.

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.