Ares Management Corporation $ARES Shares Sold by Northern Trust Corp

Key Points

• Northern Trust Corp reduced its stake in Ares Management Corporation by 7.3%, now owning about 1,104,758 shares worth approximately $161.97 million.
• Ares Management is seeing mixed activity from institutional investors, with firms like Canton Hathaway and Walled Lake Planning increasing their positions, while Northern Trust reduced its holdings.
• The company reported earnings per share (EPS) of $1.03 for the last quarter, missing expectations of $1.15, with revenue reaching $1.35 billion, surpassing estimates of $1.02 billion.

Northern Trust Corp lowered its position in Ares Management Corporation (NYSE:ARES - Free Report) by 7.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,104,758 shares of the asset manager's stock after selling 86,924 shares during the quarter. Northern Trust Corp owned 0.35% of Ares Management worth $161,969,000 as of its most recent filing with the Securities and Exchange Commission.

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

Ares Management Stock Up 0.9%

ARES stock traded up $1.57 during midday trading on Thursday, hitting $181.08. 195,809 shares of the company's stock were exchanged, compared to its average volume of 1,624,094. The firm has a 50 day moving average price of $180.49 and a 200-day moving average price of $165.86. Ares Management Corporation has a 12-month low of $110.63 and a 12-month high of $200.49. The stock has a market capitalization of $59.16 billion, a price-to-earnings ratio of 104.59, a price-to-earnings-growth ratio of 1.40 and a beta of 1.40. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.64.

Ares Management (NYSE:ARES - Get Free Report) last released its earnings results on Friday, August 1st. The asset manager reported $1.03 EPS for the quarter, missing the consensus estimate of $1.15 by ($0.12). The business had revenue of $1.35 billion for the quarter, compared to analysts' expectations 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 company posted $0.99 earnings per share. On average, analysts anticipate that Ares Management Corporation will post 5.28 EPS for the current year.

Ares Management Dividend Announcement

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 given a $1.12 dividend. The ex-dividend date of this dividend is Tuesday, September 16th. This represents a $4.48 annualized dividend and a dividend yield of 2.5%. Ares Management's payout ratio is presently 258.96%.

Analysts Set New Price Targets

ARES has been the topic of a number of research reports. Cfra Research raised shares of Ares Management to a "moderate buy" rating in a research note on Monday, August 4th. Royal Bank Of Canada increased their price target on Ares Management from $195.00 to $215.00 and gave the company an "outperform" rating in a report on Monday, August 18th. Citigroup reissued an "outperform" rating on shares of Ares Management in a research report on Monday, July 14th. JMP Securities upped their target price on Ares Management from $195.00 to $205.00 and gave the stock a "market outperform" rating in a research report on Wednesday, August 6th. Finally, Barclays raised their target price on Ares Management from $182.00 to $200.00 and gave the company an "overweight" rating in a report on Thursday, July 10th. Thirteen equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $182.73.

Insider Transactions at Ares Management

In other news, CEO Michael J. Arougheti sold 44,760 shares of the stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $178.19, for a total transaction of $7,975,784.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Chairman Antony P. Ressler sold 196,197 shares of Ares Management stock in a transaction dated Tuesday, August 26th. The stock was 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 of the company's stock, valued at $254,693,149.02. This trade represents a 12.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,316,752 shares of company stock worth $235,983,344. 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.