E. Ohman J or Asset Management AB Raises Stock Position in Ares Management Corporation $ARES

Key Points

• E. Ohman J or Asset Management AB increased its stake in Ares Management Corporation by 276.5%, now holding 8,660 shares valued at approximately $1.5 million.
• Ares Management reported earnings per share (EPS) of $1.03 for the last quarter, missing analyst expectations, but exceeded revenue forecasts with $1.35 billion.
• The firm has announced a quarterly dividend of $1.12 per share, reflecting a yield of 2.5%, with an ex-dividend date set for September 16th.

E. Ohman J or Asset Management AB increased its stake in Ares Management Corporation (NYSE:ARES - Free Report) by 276.5% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,660 shares of the asset manager's stock after purchasing an additional 6,360 shares during the period. E. Ohman J or Asset Management AB's holdings in Ares Management were worth $1,500,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Vanguard Group Inc. lifted its stake in Ares Management by 2.0% during the 1st quarter. Vanguard Group Inc. now owns 19,189,991 shares of the asset manager's stock valued at $2,813,445,000 after acquiring an additional 382,273 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of Ares Management by 0.4% during the 1st quarter. JPMorgan Chase & Co. now owns 8,308,330 shares of the asset manager's stock valued at $1,218,084,000 after purchasing an additional 30,451 shares in the last quarter. Principal Financial Group Inc. increased its holdings in shares of Ares Management by 4.8% during the 1st quarter. Principal Financial Group Inc. now owns 3,354,032 shares of the asset manager's stock valued at $491,735,000 after purchasing an additional 152,169 shares in the last quarter. Raymond James Financial Inc. increased its holdings in shares of Ares Management by 0.3% during the 1st quarter. Raymond James Financial Inc. now owns 1,902,603 shares of the asset manager's stock valued at $278,941,000 after purchasing an additional 5,424 shares in the last quarter. Finally, Canada Pension Plan Investment Board increased its holdings in shares of Ares Management by 5.5% during the 1st quarter. Canada Pension Plan Investment Board now owns 1,727,563 shares of the asset manager's stock valued at $253,278,000 after purchasing an additional 90,101 shares in the last quarter. 50.03% of the stock is currently owned by institutional investors and hedge funds.

Ares Management Price Performance

Ares Management stock opened at $179.85 on Tuesday. Ares Management Corporation has a 52-week low of $110.63 and a 52-week high of $200.49. The firm has a market capitalization of $58.76 billion, a price-to-earnings ratio of 103.96, a PEG ratio of 1.43 and a beta of 1.44. The company has a fifty day simple moving average of $182.29 and a 200-day simple moving average of $165.68. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.64.

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 (EPS) 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 for the quarter, compared to analysts' expectations of $1.02 billion. During the same period in the previous year, the company earned $0.99 EPS. On average, equities analysts anticipate that Ares Management Corporation will post 5.28 EPS for the current fiscal year.

Ares Management Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Royal Bank Of Canada lifted their target price on shares of Ares Management from $195.00 to $215.00 and gave the company an "outperform" rating in a report on Monday, August 18th. Barclays lifted their target price on shares of Ares Management from $182.00 to $200.00 and gave the company an "overweight" rating in a report on Thursday, July 10th. Cfra Research raised shares of Ares Management to a "moderate buy" rating in a report on Monday, August 4th. Wells Fargo & Company lifted their target price on shares of Ares Management from $189.00 to $202.00 and gave the company an "overweight" rating in a report on Friday, July 11th. Finally, Raymond James Financial started coverage on shares of Ares Management in a report on Monday, July 28th. They issued a "market perform" rating for the company. Thirteen equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $182.73.

Insider Activity

In other news, Chairman Antony P. Ressler sold 128,837 shares of the company's stock in a transaction on Wednesday, September 10th. The shares were sold at an average price of $178.30, for a total transaction of $22,971,637.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold a total of 2,590,000 shares of company stock worth $464,430,639 over the last ninety days. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.