Ares Management Corporation $ARES Shares Bought by Hsbc Holdings PLC

Key Points

• Hsbc Holdings PLC increased its stake in Ares Management Corporation by 28.8%, owning 129,455 shares valued at $18,813,000 as of the latest SEM filing.
• Several institutional investors also increased their positions in Ares Management, with Quantbot Technologies LP raising its stake by 128.7% during the first quarter.
• Ares Management recently declared a quarterly dividend of $1.12 per share, with a dividend yield of 2.5%, amidst a payout ratio of 258.96%.

Hsbc Holdings PLC boosted its position in shares of Ares Management Corporation (NYSE:ARES - Free Report) by 28.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 129,455 shares of the asset manager's stock after purchasing an additional 28,970 shares during the period. Hsbc Holdings PLC's holdings in Ares Management were worth $18,813,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of ARES. Millennium Management LLC raised its stake in Ares Management by 394.8% during the fourth quarter. Millennium Management LLC now owns 766,267 shares of the asset manager's stock worth $135,652,000 after purchasing an additional 611,414 shares during the period. Vanguard Group Inc. raised its stake in Ares Management by 2.0% during the first quarter. Vanguard Group Inc. now owns 19,189,991 shares of the asset manager's stock worth $2,813,445,000 after purchasing an additional 382,273 shares during the period. Lord Abbett & CO. LLC raised its stake in Ares Management by 443.8% during the fourth quarter. Lord Abbett & CO. LLC now owns 383,209 shares of the asset manager's stock worth $67,839,000 after purchasing an additional 312,742 shares during the period. Brown Advisory Inc. raised its stake in Ares Management by 8.8% during the fourth quarter. Brown Advisory Inc. now owns 3,727,597 shares of the asset manager's stock worth $659,896,000 after purchasing an additional 302,303 shares during the period. Finally, Westfield Capital Management Co. LP raised its stake in Ares Management by 18.3% during the first quarter. Westfield Capital Management Co. LP now owns 1,128,415 shares of the asset manager's stock worth $165,437,000 after purchasing an additional 174,645 shares during the period. 50.03% of the stock is owned by hedge funds and other institutional investors.

Ares Management Stock Down 0.4%

Shares of ARES stock traded down $0.75 during trading on Friday, reaching $179.52. The company's stock had a trading volume of 125,950 shares, compared to its average volume of 1,620,093. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.08 and a quick ratio of 1.08. The company has a market capitalization of $58.65 billion, a price-to-earnings ratio of 103.77, a P/E/G ratio of 1.41 and a beta of 1.40. The stock's 50-day moving average price is $180.75 and its 200 day moving average price is $165.79. 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 announced its quarterly earnings data 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). The business had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.02 billion. Ares Management had a net margin of 9.47% and a return on equity of 15.81%. During the same quarter last year, the firm posted $0.99 EPS. On average, research analysts anticipate 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 will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th will be issued a $1.12 dividend. The ex-dividend date is Tuesday, September 16th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 2.5%. Ares Management's payout ratio is 258.96%.

Insider Buying and Selling

In other Ares Management news, Chairman Antony P. Ressler sold 196,197 shares of the business's stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $178.79, for a total transaction of $35,078,061.63. Following the completion of the transaction, the chairman owned 1,424,538 shares in the company, valued at $254,693,149.02. The trade was a 12.11% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Michael J. Arougheti sold 136,516 shares of the business's stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $182.74, for a total transaction of $24,946,933.84. Following the transaction, the chief executive officer owned 311,728 shares of the company's stock, valued at $56,965,174.72. This trade represents a 30.46% decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,530,522 shares of company stock valued at $275,565,856 in the last 90 days. Company insiders own 36.86% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on ARES. Wells Fargo & Company lifted their target price on shares of Ares Management from $189.00 to $202.00 and gave the stock an "overweight" rating in a research note on Friday, July 11th. Cfra Research upgraded shares of Ares Management to a "moderate buy" rating in a research report on Monday, August 4th. Keefe, Bruyette & Woods lifted their price target on shares of Ares Management from $193.00 to $203.00 and gave the company an "outperform" rating in a research report on Monday, August 4th. Raymond James Financial assumed coverage on shares of Ares Management in a research report on Monday, July 28th. They set a "market perform" rating for the company. Finally, Wolfe Research set a $193.00 price target on shares of Ares Management and gave the company an "outperform" rating in a research report on Tuesday, May 6th. 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, Ares Management has an average rating of "Moderate Buy" and a consensus target price of $182.73.

Ares Management 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.