Mitsubishi UFJ Asset Management Co. Ltd. Grows Stake in Ares Management Corporation (NYSE:ARES)

Key Points

• Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Ares Management Corporation by 13.3%, holding 156,700 shares worth approximately $22.97 million as of the latest SEC filing.
• Analysts have mixed opinions on Ares Management, with Oppenheimer downgrading the stock to "market perform" while others like Wells Fargo and Barclays have increased their price targets, showing a consensus average target of $178.19.
• Ares Management announced a quarterly dividend of $1.12 per share, with an annualized yield of 2.4%, set to be paid to investors on September 30th.

Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of Ares Management Corporation (NYSE:ARES - Free Report) by 13.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 156,700 shares of the asset manager's stock after purchasing an additional 18,345 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.'s holdings in Ares Management were worth $22,974,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in ARES. Chicago Partners Investment Group LLC grew its position in Ares Management by 74.4% in the first quarter. Chicago Partners Investment Group LLC now owns 21,032 shares of the asset manager's stock worth $3,409,000 after acquiring an additional 8,973 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Ares Management by 2.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 735,155 shares of the asset manager's stock worth $107,781,000 after acquiring an additional 19,897 shares in the last quarter. ASR Vermogensbeheer N.V. purchased a new position in Ares Management in the first quarter worth about $579,000. Citizens Financial Group Inc. RI grew its position in Ares Management by 2.4% in the first quarter. Citizens Financial Group Inc. RI now owns 7,439 shares of the asset manager's stock worth $1,091,000 after acquiring an additional 172 shares in the last quarter. Finally, Vanguard Group Inc. grew its position in Ares Management by 2.0% in the first quarter. Vanguard Group Inc. now owns 19,189,991 shares of the asset manager's stock worth $2,813,445,000 after acquiring an additional 382,273 shares in the last quarter. Hedge funds and other institutional investors own 50.03% of the company's stock.

Ares Management Trading Up 3.3%

Shares of Ares Management stock traded up $6.13 on Tuesday, hitting $192.68. 1,278,881 shares of the company traded hands, compared to its average volume of 1,414,334. The stock's 50 day moving average price is $177.37 and its 200-day moving average price is $166.47. The company has a current ratio of 1.08, a quick ratio of 1.07 and a debt-to-equity ratio of 0.64. Ares Management Corporation has a 52 week low of $110.63 and a 52 week high of $200.49. The company has a market cap of $62.92 billion, a PE ratio of 111.37, a PEG ratio of 1.46 and a beta of 1.40.

Ares Management (NYSE:ARES - Get Free Report) last posted its quarterly earnings results on Friday, August 1st. The asset manager reported $1.03 earnings per share for the quarter, missing the consensus estimate of $1.15 by ($0.12). The company had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.02 billion. Ares Management had a net margin of 9.47% and a return on equity of 15.81%. During the same period in the prior year, the firm posted $0.99 EPS. Equities research analysts predict that Ares Management Corporation will post 5.28 EPS for the current year.

Ares Management Dividend Announcement

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 dividend of $1.12 per share. This represents a $4.48 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend is Tuesday, September 16th. Ares Management's dividend payout ratio (DPR) is presently 258.96%.

Insider Activity at Ares Management

In related news, Chairman Bennett Rosenthal sold 85,000 shares of Ares Management stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $168.79, for a total transaction of $14,347,150.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider David B. Kaplan sold 62,500 shares of Ares Management stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $169.36, for a total transaction of $10,585,000.00. Following the transaction, the insider directly owned 62,500 shares in the company, valued at approximately $10,585,000. The trade was a 50.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 873,145 shares of company stock valued at $146,204,353 over the last ninety days. 0.52% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research analysts recently commented on the company. Oppenheimer lowered Ares Management from an "outperform" rating to a "market perform" rating in a research report on Thursday, May 15th. Cfra Research raised shares of Ares Management to a "moderate buy" rating in a research note on Monday, August 4th. Morgan Stanley decreased their price objective on shares of Ares Management from $197.00 to $152.00 and set an "equal weight" rating for the company in a research note on Monday, April 14th. Citigroup reissued an "outperform" rating on shares of Ares Management in a research note on Monday, July 14th. Finally, Keefe, Bruyette & Woods raised their price objective on shares of Ares Management from $193.00 to $203.00 and gave the stock an "outperform" rating in a research note on Monday, August 4th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $178.19.

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.