Edgestream Partners L.P. Has $13.88 Million Stock Position in Ares Management Corporation (NYSE:ARES)

Edgestream Partners L.P. lifted its position in Ares Management Corporation (NYSE:ARES - Free Report) by 68.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 94,665 shares of the asset manager's stock after acquiring an additional 38,430 shares during the period. Ares Management accounts for 0.5% of Edgestream Partners L.P.'s holdings, making the stock its 10th largest position. Edgestream Partners L.P.'s holdings in Ares Management were worth $13,879,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Huntington National Bank boosted its holdings in shares of Ares Management by 9.8% in the fourth quarter. Huntington National Bank now owns 704 shares of the asset manager's stock valued at $125,000 after acquiring an additional 63 shares during the period. Frank Rimerman Advisors LLC raised its stake 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. Canton Hathaway LLC raised its position in shares of Ares Management by 9.5% during 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 last quarter. Bessemer Group Inc. boosted its stake in shares of 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 acquiring an additional 78 shares during the last quarter. Finally, Intech Investment Management LLC grew its holdings in shares of Ares Management by 0.8% during the fourth quarter. Intech Investment Management LLC now owns 10,520 shares of the asset manager's stock worth $1,862,000 after buying an additional 81 shares in the last quarter. 50.03% of the stock is currently owned by institutional investors and hedge funds.

Ares Management Stock Up 1.8%

NYSE:ARES traded up $3.13 on Monday, hitting $180.50. The stock had a trading volume of 1,331,606 shares, compared to its average volume of 1,682,997. The company has a market cap of $58.95 billion, a PE ratio of 106.18, a P/E/G ratio of 1.45 and a beta of 1.37. The business's fifty day moving average is $168.99 and its 200 day moving average is $166.26. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.61. Ares Management Corporation has a 52 week low of $110.63 and a 52 week high of $200.49.

Ares Management (NYSE:ARES - Get Free Report) last released its earnings results on Monday, May 5th. The asset manager reported $1.09 earnings per share for the quarter, beating analysts' consensus estimates of $0.94 by $0.15. The firm had revenue of $951.96 million during 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 in the prior year, the firm earned $0.80 EPS. On average, equities research analysts expect 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 given a $1.12 dividend. The ex-dividend date was Monday, June 16th. This represents a $4.48 dividend on an annualized basis and a yield of 2.48%. Ares Management's payout ratio is 263.53%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on ARES shares. The Goldman Sachs Group decreased their price target on Ares Management from $188.00 to $166.00 and set a "buy" rating for the company in a report on Thursday, April 3rd. Oppenheimer downgraded Ares Management from an "outperform" rating to a "market perform" rating in a report on Thursday, May 15th. Wolfe Research set a $193.00 target price on Ares Management and gave the company an "outperform" rating in a research note on Tuesday, May 6th. Citizens Jmp raised shares of Ares Management from a "market perform" rating to an "outperform" rating and set a $165.00 price target for the company in a report on Tuesday, April 8th. Finally, TD Cowen reduced their price objective on shares of Ares Management from $216.00 to $161.00 and set a "buy" rating for the company in a research note on Wednesday, April 9th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $177.50.

Insider Buying and Selling at Ares Management

In other Ares Management news, CEO Michael J. Arougheti sold 107,500 shares of the company's stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $161.34, for a total value 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 approximately $225,876,000. This represents a 7.13% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider David B. Kaplan sold 33,145 shares of the company's stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $165.12, for a total transaction of $5,472,902.40. The disclosure for this sale can be found here. Insiders sold a total of 873,145 shares of company stock worth $146,204,353 over the last three months. Company insiders own 0.52% of the company's stock.

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.