37,100 Shares in Ares Management Corporation $ARES Bought by Mn Services Vermogensbeheer B.V.

Key Points

• Mn Services Vermogensbeheer B.V. purchased 37,100 shares of Ares Management Corporation, valued at approximately $6.4 million, indicating increased institutional interest in the asset manager.
• Ares Management announced a quarterly dividend of $1.12 per share, representing an annualized yield of 2.4%, despite a high dividend payout ratio of 258.96%.
• Company insiders, including Chairman Antony Ressler, sold a substantial total of 2.59 million shares worth nearly $464.4 million recently, signaling potential shifts in ownership sentiment.

Mn Services Vermogensbeheer B.V. bought a new position in shares of Ares Management Corporation (NYSE:ARES - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 37,100 shares of the asset manager's stock, valued at approximately $6,426,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Redmont Wealth Advisors LLC purchased a new stake in Ares Management during the 1st quarter valued at approximately $28,000. Financial Network Wealth Advisors LLC purchased a new stake in shares of Ares Management during the first quarter worth approximately $31,000. Global Financial Private Client LLC lifted its holdings 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. Rakuten Securities Inc. grew its position in Ares Management by 3,262.5% in the 1st quarter. Rakuten Securities Inc. now owns 269 shares of the asset manager's stock valued at $39,000 after buying an additional 261 shares during the last quarter. Finally, Banque Transatlantique SA acquired a new position in Ares Management in the 1st quarter valued at $39,000. 50.03% of the stock is owned by hedge funds and other institutional investors.

Ares Management Trading Up 1.1%

NYSE:ARES traded up $1.99 during mid-day trading on Tuesday, reaching $183.98. The company's stock had a trading volume of 286,043 shares, compared to its average volume of 1,591,914. Ares Management Corporation has a twelve month low of $110.63 and a twelve month high of $200.49. 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's fifty day simple moving average is $182.61 and its two-hundred day simple moving average is $166.41. The stock has a market cap of $60.11 billion, a P/E ratio of 106.35, a P/E/G ratio of 1.43 and a beta of 1.44.

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 analysts' consensus estimates of $1.15 by ($0.12). The company had revenue of $1.35 billion for the quarter, compared to analysts' expectations 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 in the prior year, the business earned $0.99 EPS. On average, equities analysts predict that Ares Management Corporation will post 5.28 EPS for the current year.

Ares Management Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th will be given a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend is Tuesday, September 16th. Ares Management's dividend payout ratio is 258.96%.

Insider Activity

In related news, Chairman Antony P. Ressler sold 128,837 shares of the firm's stock in a transaction dated Wednesday, September 10th. The stock was sold at an average price of $178.30, for a total transaction of $22,971,637.10. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders sold a total of 2,590,000 shares of company stock valued at $464,430,639 in the last ninety days. 0.52% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on ARES. JMP Securities lifted their target price on shares of Ares Management from $195.00 to $205.00 and gave the company a "market outperform" rating in a report on Wednesday, August 6th. Keefe, Bruyette & Woods boosted their target price on Ares Management from $193.00 to $203.00 and gave the stock an "outperform" rating in a research report on Monday, August 4th. Wells Fargo & Company raised their price target on Ares Management from $189.00 to $202.00 and gave the company an "overweight" rating in a report on Friday, July 11th. Raymond James Financial began coverage on Ares Management in a research report on Monday, July 28th. They issued a "market perform" rating for the company. Finally, Citigroup reissued an "outperform" rating on shares of Ares Management in a report on Monday, July 14th. Thirteen research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target 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.