Parcion Private Wealth LLC Has $760,000 Holdings in Ares Management Corporation (NYSE:ARES)

Parcion Private Wealth LLC lowered its position in Ares Management Corporation (NYSE:ARES - Free Report) by 44.7% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 5,186 shares of the asset manager's stock after selling 4,195 shares during the period. Parcion Private Wealth LLC's holdings in Ares Management were worth $760,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Huntington National Bank raised its position in shares of Ares Management by 9.8% during the 4th quarter. Huntington National Bank now owns 704 shares of the asset manager's stock valued at $125,000 after buying an additional 63 shares in the last quarter. Canton Hathaway LLC grew its stake in Ares Management by 9.5% in the 1st quarter. Canton Hathaway LLC now owns 865 shares of the asset manager's stock worth $127,000 after acquiring an additional 75 shares in the last quarter. Bessemer Group Inc. grew its stake in Ares Management by 1.8% in the 1st quarter. Bessemer Group Inc. now owns 4,360 shares of the asset manager's stock worth $639,000 after acquiring an additional 78 shares in the last quarter. Harbour Investments Inc. grew its stake in Ares Management by 25.6% in the 4th quarter. Harbour Investments Inc. now owns 398 shares of the asset manager's stock worth $70,000 after acquiring an additional 81 shares in the last quarter. Finally, Intech Investment Management LLC boosted its stake in shares of Ares Management by 0.8% during the fourth quarter. Intech Investment Management LLC now owns 10,520 shares of the asset manager's stock valued at $1,862,000 after purchasing an additional 81 shares in the last quarter. Institutional investors own 50.03% of the company's stock.

Ares Management Trading Up 0.5%

ARES stock traded up $0.98 during midday trading on Friday, reaching $184.15. 792,509 shares of the company's stock traded hands, compared to its average volume of 1,432,255. The company has a market capitalization of $60.14 billion, a P/E ratio of 108.47, a PEG ratio of 1.47 and a beta of 1.37. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.07 and a quick ratio of 1.07. Ares Management Corporation has a fifty-two week low of $110.63 and a fifty-two week high of $200.49. The business has a 50-day moving average price of $170.38 and a two-hundred day moving average price of $166.45.

Ares Management (NYSE:ARES - Get Free Report) last issued its quarterly earnings results on Monday, May 5th. The asset manager reported $1.09 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.94 by $0.15. Ares Management had a net margin of 9.73% and a return on equity of 16.29%. The business had revenue of $951.96 million during the quarter, compared to analyst estimates of $914.00 million. During the same quarter in the previous year, the firm earned $0.80 earnings per share. Equities research analysts forecast that Ares Management Corporation will post 5.28 EPS for the current fiscal year.

Ares Management Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 16th were issued a dividend of $1.12 per share. The ex-dividend date of this dividend was Monday, June 16th. This represents a $4.48 annualized dividend and a yield of 2.43%. Ares Management's payout ratio is presently 263.53%.

Insider Activity

In other news, CEO Michael J. Arougheti sold 182,108 shares of the stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $170.07, for a total value of $30,971,107.56. Following the completion of the sale, the chief executive officer directly owned 350,684 shares of the company's stock, valued at approximately $59,640,827.88. This represents a 34.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Bennett Rosenthal sold 85,000 shares of the stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $168.79, for a total value of $14,347,150.00. The disclosure for this sale can be found here. Insiders have sold 873,145 shares of company stock worth $146,204,353 in the last 90 days. Company insiders own 36.86% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Bank of America decreased their target price on shares of Ares Management from $221.00 to $201.00 and set a "buy" rating for the company in a research report on Friday, April 4th. Oppenheimer cut shares of Ares Management from an "outperform" rating to a "market perform" rating in a report on Thursday, May 15th. Barclays raised their target price on shares of Ares Management from $182.00 to $200.00 and gave the stock an "overweight" rating in a report on Thursday, July 10th. Wolfe Research set a $193.00 target price on shares of Ares Management and gave the stock an "outperform" rating in a report on Tuesday, May 6th. Finally, TD Cowen reduced their target price on shares of Ares Management from $216.00 to $161.00 and set a "buy" rating for the company in a report on Wednesday, April 9th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $177.50.

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.