EFG Asset Management Americas Corp. Has $2.31 Million Position in Ares Management Corporation (NYSE:ARES)

Key Points

• EFG Asset Management Americas Corp. reduced its position in Ares Management by 25.5%, owning 15,766 shares valued at approximately $2.31 million after selling 5,390 shares in Q1.
• Ares Management's CEO, Michael J. Arougheti, sold 182,108 shares valued at nearly $31 million, representing a 34.18% decrease in his overall position.
• Ares Management recently reported earnings exceeding analysts' expectations, with $1.09 earnings per share and revenue of $951.96 million for the last quarter, alongside an announced quarterly dividend of $1.12 per share.

EFG Asset Management Americas Corp. lessened its position in shares of Ares Management Corporation (NYSE:ARES - Free Report) by 25.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,766 shares of the asset manager's stock after selling 5,390 shares during the quarter. EFG Asset Management Americas Corp.'s holdings in Ares Management were worth $2,311,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in ARES. Redmont Wealth Advisors LLC acquired a new position in shares of Ares Management during the first quarter valued at $28,000. Transce3nd LLC acquired a new position in Ares Management in the fourth quarter valued at about $29,000. Johnson Financial Group Inc. raised its position in shares of Ares Management by 104.8% during the fourth quarter. Johnson Financial Group Inc. now owns 170 shares of the asset manager's stock worth $30,000 after purchasing an additional 87 shares during the period. Elequin Capital LP acquired a new stake in shares of Ares Management during the fourth quarter worth about $33,000. Finally, Global Financial Private Client LLC raised its position in shares of Ares Management by 125.6% during the first quarter. Global Financial Private Client LLC now owns 264 shares of the asset manager's stock worth $39,000 after purchasing an additional 147 shares during the period. Institutional investors and hedge funds own 50.03% of the company's stock.

Insiders Place Their Bets

In other Ares Management news, CEO Michael J. Arougheti sold 182,108 shares of the firm's stock in a transaction on Friday, May 16th. The stock was sold at an average price of $170.07, for a total transaction of $30,971,107.56. Following the transaction, the chief executive officer owned 350,684 shares in the company, valued at $59,640,827.88. This trade represents a 34.18% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider David B. Kaplan sold 62,500 shares of the firm's stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $169.36, for a total value of $10,585,000.00. Following the transaction, the insider owned 62,500 shares in the company, valued at approximately $10,585,000. This trade represents a 50.00% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 873,145 shares of company stock worth $146,204,353 in the last 90 days. Company insiders own 36.86% of the company's stock.

Ares Management Stock Performance

ARES opened at $187.87 on Thursday. Ares Management Corporation has a 12-month low of $110.63 and a 12-month high of $200.49. The stock has a market cap of $61.35 billion, a price-to-earnings ratio of 110.51, a PEG ratio of 1.54 and a beta of 1.37. The business has a 50 day moving average of $173.07 and a 200-day moving average of $166.73. 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 (NYSE:ARES - Get Free Report) last released its quarterly 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 business had revenue of $951.96 million during the quarter, compared to analysts' expectations of $914.00 million. Ares Management had a return on equity of 16.29% and a net margin of 9.73%. During the same period last year, the firm posted $0.80 EPS. On average, equities research analysts expect that Ares Management Corporation will post 5.28 earnings per share for the current year.

Ares Management Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 16th were paid a dividend of $1.12 per share. The ex-dividend date of this dividend was Monday, June 16th. This represents a $4.48 dividend on an annualized basis and a yield of 2.38%. Ares Management's dividend payout ratio (DPR) is presently 263.53%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Barclays raised their price target on Ares Management from $182.00 to $200.00 and gave the stock an "overweight" rating in a research report on Thursday, July 10th. JMP Securities set a $195.00 price target on Ares Management and gave the stock a "market outperform" rating in a research report on Monday, July 14th. Raymond James Financial started coverage on Ares Management in a report on Monday. They set a "market perform" rating for the company. Citizens Jmp upgraded Ares Management from a "market perform" rating to an "outperform" rating and set a $165.00 price objective for the company in a report on Tuesday, April 8th. Finally, Wells Fargo & Company increased their price objective on Ares Management from $189.00 to $202.00 and gave the stock an "overweight" rating in a report on Friday, July 11th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, Ares Management has an average rating of "Moderate Buy" and a consensus 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.

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