LRI Investments LLC Has $406.63 Million Holdings in Ares Management Corporation $ARES

Key Points

• LRI Investments LLC has reduced its holdings in Ares Management Corporation by 1.4%, now owning approximately $406.63 million in shares, which constitutes 30.7% of its investment portfolio.
• Ares Management has received positive ratings from analysts, with target prices increased to a range between $203.00 and $215.00, indicating a consensus rating of Moderate Buy.
• The company declared a quarterly dividend of $1.12 per share, resulting in a 3.2% dividend yield, despite a high payout ratio of 258.96%.

LRI Investments LLC trimmed its stake in shares of Ares Management Corporation (NYSE:ARES - Free Report) by 1.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,347,722 shares of the asset manager's stock after selling 34,319 shares during the quarter. Ares Management comprises approximately 30.7% of LRI Investments LLC's investment portfolio, making the stock its biggest position. LRI Investments LLC owned about 0.72% of Ares Management worth $406,625,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Redmont Wealth Advisors LLC acquired a new stake in shares of Ares Management during the first quarter worth $28,000. Financial Network Wealth Advisors LLC acquired a new stake in shares of Ares Management during the first quarter worth $31,000. Ameritas Advisory Services LLC acquired a new stake in shares of Ares Management during the second quarter worth $43,000. Rakuten Securities Inc. lifted its holdings in shares of Ares Management by 3,262.5% during the first quarter. Rakuten Securities Inc. now owns 269 shares of the asset manager's stock worth $39,000 after buying an additional 261 shares in the last quarter. Finally, Banque Transatlantique SA acquired a new stake in shares of Ares Management during the first quarter worth $39,000. Institutional investors and hedge funds own 50.03% of the company's stock.

Analysts Set New Price Targets

ARES has been the subject of a number of research reports. Keefe, Bruyette & Woods lifted their target price on Ares Management from $193.00 to $203.00 and gave the stock an "outperform" rating in a report on Monday, August 4th. Cfra Research raised Ares Management to a "moderate buy" rating in a report on Monday, August 4th. JMP Securities boosted their price target on Ares Management from $195.00 to $205.00 and gave the company a "market outperform" rating in a research note on Wednesday, August 6th. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $215.00 price target on shares of Ares Management in a research note on Monday, September 29th. Finally, Citigroup reaffirmed an "outperform" rating on shares of Ares Management in a research note on Monday, July 14th. Thirteen equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, Ares Management presently has a consensus rating of "Moderate Buy" and an average target price of $180.00.

Ares Management Stock Down 4.4%

ARES stock opened at $140.84 on Friday. The company has a market cap of $46.01 billion, a PE ratio of 81.41, a price-to-earnings-growth ratio of 1.11 and a beta of 1.43. The business has a 50-day simple moving average of $175.26 and a 200 day simple moving average of $167.20. Ares Management Corporation has a 52 week low of $110.63 and a 52 week high of $200.49. 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 posted its earnings results on Friday, August 1st. The asset manager reported $1.03 EPS for the quarter, missing analysts' consensus estimates of $1.15 by ($0.12). The company had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.02 billion. Ares Management had a return on equity of 15.81% and a net margin of 9.47%.During the same period last year, the company posted $0.99 EPS. Sell-side analysts anticipate that Ares Management Corporation will post 5.28 EPS for the current fiscal year.

Ares Management Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th were issued a dividend of $1.12 per share. The ex-dividend date of this dividend was Tuesday, September 16th. This represents a $4.48 annualized dividend and a dividend yield of 3.2%. Ares Management's payout ratio is 258.96%.

Insider Activity

In related news, Chairman Antony P. Ressler sold 128,837 shares of Ares Management stock in a transaction that occurred 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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. Over the last 90 days, insiders have sold 2,590,000 shares of company stock worth $464,430,639. Insiders own 36.86% 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.

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