Ares Management Corporation $ARES Shares Purchased by NewEdge Advisors LLC

Key Points

• NewEdge Advisors LLC significantly increased its stake in Ares Management Corporation by 86.6%, holding 64,971 shares valued at approximately $9.53 million as of the end of the last quarter.
• Ares Management reported a missed earnings estimate of $1.03 per share for the most recent quarter, falling short of analysts' expectations of $1.15, although revenue surpassed expectations at $1.35 billion.
• The company declared a quarterly dividend of $1.12 per share, reflecting a 2.5% dividend yield, with a payout ratio of 258.96%.

NewEdge Advisors LLC increased its holdings in shares of Ares Management Corporation (NYSE:ARES - Free Report) by 86.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 64,971 shares of the asset manager's stock after buying an additional 30,144 shares during the period. NewEdge Advisors LLC's holdings in Ares Management were worth $9,525,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. IFP Advisors Inc increased its stake in Ares Management by 129.6% during the 1st quarter. IFP Advisors Inc now owns 1,988 shares of the asset manager's stock worth $291,000 after buying an additional 1,122 shares during the period. Cambridge Investment Research Advisors Inc. increased its stake in Ares Management by 40.7% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 7,960 shares of the asset manager's stock worth $1,167,000 after buying an additional 2,302 shares during the period. Stratos Wealth Partners LTD. increased its stake in Ares Management by 4.2% during the 1st quarter. Stratos Wealth Partners LTD. now owns 53,401 shares of the asset manager's stock worth $7,829,000 after buying an additional 2,171 shares during the period. TCW Group Inc. increased its stake in Ares Management by 99.5% during the 1st quarter. TCW Group Inc. now owns 31,765 shares of the asset manager's stock worth $4,657,000 after buying an additional 15,846 shares during the period. Finally, Robeco Institutional Asset Management B.V. purchased a new stake in Ares Management during the 1st quarter worth approximately $667,000. 50.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ARES has been the topic of several recent research reports. Royal Bank Of Canada upped their target price on shares of Ares Management from $195.00 to $215.00 and gave the stock an "outperform" rating in a research note on Monday, August 18th. Barclays upped their target price on shares of Ares Management from $182.00 to $200.00 and gave the stock an "overweight" rating in a research note on Thursday, July 10th. Keefe, Bruyette & Woods boosted their price target on shares of Ares Management from $193.00 to $203.00 and gave the stock an "outperform" rating in a report on Monday, August 4th. Raymond James Financial initiated coverage on shares of Ares Management in a report on Monday, July 28th. They set a "market perform" rating for the company. Finally, Citigroup reiterated 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 issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $182.73.

Ares Management Stock Down 1.0%

Shares of Ares Management stock traded down $1.76 during trading hours on Friday, hitting $182.95. The company had a trading volume of 837,086 shares, compared to its average volume of 1,340,234. The company's 50-day moving average is $182.19 and its two-hundred day moving average is $165.63. 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 has a market cap of $59.77 billion, a P/E ratio of 105.75, a price-to-earnings-growth ratio of 1.45 and a beta of 1.44.

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

Ares Management Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders 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 annualized dividend and a dividend yield of 2.4%. Ares Management's dividend payout ratio is presently 258.96%.

Insider Buying and Selling at Ares Management

In other news, Chairman Antony P. Ressler sold 196,197 shares of the company's stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $178.79, for a total value of $35,078,061.63. Following the completion of the transaction, the chairman owned 1,424,538 shares in the company, valued at approximately $254,693,149.02. This represents a 12.11% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Michael J. Arougheti sold 136,516 shares of the company's stock in a transaction on Tuesday, August 19th. The shares were sold at an average price of $182.74, for a total transaction of $24,946,933.84. Following the completion of the transaction, the chief executive officer owned 311,728 shares of the company's stock, valued at approximately $56,965,174.72. The trade was a 30.46% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,590,000 shares of company stock valued at $464,430,639. Company insiders own 36.86% of the company's stock.

Ares Management Company 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.