Oppenheimer & Co. Inc. increased its position in Ares Management Corporation (NYSE:ARES - Free Report) by 5.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 39,270 shares of the asset manager's stock after buying an additional 1,995 shares during the quarter. Oppenheimer & Co. Inc.'s holdings in Ares Management were worth $5,757,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds also recently made changes to their positions in the company. Norges Bank purchased a new position in shares of Ares Management in the fourth quarter valued at about $381,365,000. Raymond James Financial Inc. purchased a new position in Ares Management during the 4th quarter valued at about $335,858,000. TD Asset Management Inc. increased its holdings in Ares Management by 4,557.2% during the 4th quarter. TD Asset Management Inc. now owns 1,304,759 shares of the asset manager's stock valued at $230,981,000 after purchasing an additional 1,276,743 shares during the period. Vanguard Group Inc. increased its holdings in Ares Management by 5.1% during the 4th quarter. Vanguard Group Inc. now owns 18,807,718 shares of the asset manager's stock valued at $3,329,530,000 after purchasing an additional 907,757 shares during the period. Finally, FMR LLC increased its holdings in Ares Management by 12.8% during the 4th quarter. FMR LLC now owns 7,109,070 shares of the asset manager's stock valued at $1,258,519,000 after purchasing an additional 807,361 shares during the period. 50.03% of the stock is owned by hedge funds and other institutional investors.
Ares Management Price Performance
Shares of ARES opened at $169.83 on Wednesday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.07 and a current ratio of 1.07. The stock has a market cap of $55.46 billion, a PE ratio of 99.90, a price-to-earnings-growth ratio of 1.30 and a beta of 1.38. The firm's 50-day simple moving average is $161.86 and its two-hundred day simple moving average is $166.64. Ares Management Corporation has a fifty-two week low of $110.63 and a fifty-two week high of $200.49.
Ares Management (NYSE:ARES - Get Free Report) last released its earnings results on Monday, May 5th. The asset manager reported $1.09 EPS for the quarter, topping analysts' consensus estimates of $0.94 by $0.15. Ares Management had a return on equity of 16.29% and a net margin of 9.73%. The firm had revenue of $951.96 million for the quarter, compared to analysts' expectations of $914.00 million. During the same period in the prior year, the firm posted $0.80 earnings per share. Analysts anticipate that Ares Management Corporation will post 5.28 earnings per share for the current fiscal year.
Ares Management Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be given a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a yield of 2.64%. The ex-dividend date is Monday, June 16th. Ares Management's dividend payout ratio (DPR) is 263.53%.
Analyst Upgrades and Downgrades
Several equities analysts have recently issued reports on the company. The Goldman Sachs Group reduced their target price on Ares Management from $188.00 to $166.00 and set a "buy" rating on the stock in a research note on Thursday, April 3rd. TD Cowen reduced their price objective on shares of Ares Management from $216.00 to $161.00 and set a "buy" rating on the stock in a research report on Wednesday, April 9th. Wells Fargo & Company boosted their price objective on shares of Ares Management from $182.00 to $189.00 and gave the company an "overweight" rating in a research report on Friday, May 23rd. Citizens Jmp upgraded shares of Ares Management from a "market perform" rating to an "outperform" rating and set a $165.00 price target on the stock in a research report on Tuesday, April 8th. Finally, Oppenheimer cut shares of Ares Management from an "outperform" rating to a "market perform" rating in a research report on Thursday, May 15th. One analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $174.94.
View Our Latest Research Report on Ares Management
Insider Activity at Ares Management
In other Ares Management news, insider David B. Kaplan sold 626 shares of the stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $165.07, for a total transaction of $103,333.82. Following the sale, the insider now directly owns 61,874 shares in the company, valued at approximately $10,213,541.18. This trade represents a 1.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Michael J. Arougheti sold 107,500 shares of the stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $161.34, for a total value of $17,344,050.00. Following the sale, the chief executive officer now directly owns 1,400,000 shares in the company, valued at $225,876,000. This trade represents a 7.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 873,145 shares of company stock valued at $146,204,353. 0.52% of the stock is owned by insiders.
About Ares Management
(
Free Report)
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.
See Also
Want to see what other hedge funds are holding ARES? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ares Management Corporation (NYSE:ARES - Free Report).
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