Prime Capital Investment Advisors LLC Has $2.02 Million Holdings in Ares Management Corporation $ARES

Key Points

• Prime Capital Investment Advisors LLC reduced its holdings in Ares Management Corporation by 26.4% in the second quarter, now owning shares worth approximately $2.02 million.
• Insider transactions show significant selling activity, with Chairman Antony P. Ressler and CEO Michael J. Arougheti decreasing their ownership by 12.11% and 30.46%, respectively.
• Ares Management's recent earnings report missed analysts' consensus estimates, reporting $1.03 EPS, while also announcing a quarterly dividend of $1.12 per share with a yield of 3.0%.

Prime Capital Investment Advisors LLC reduced its holdings in Ares Management Corporation (NYSE:ARES - Free Report) by 26.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,682 shares of the asset manager's stock after selling 4,199 shares during the quarter. Prime Capital Investment Advisors LLC's holdings in Ares Management were worth $2,023,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Redmont Wealth Advisors LLC bought a new position in Ares Management in the 1st quarter worth approximately $28,000. Financial Network Wealth Advisors LLC bought a new position in Ares Management in the 1st quarter worth approximately $31,000. Rakuten Securities Inc. raised 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 worth $39,000 after purchasing an additional 261 shares during the last quarter. Banque Transatlantique SA bought a new position in Ares Management in the 1st quarter worth approximately $39,000. Finally, Ameritas Advisory Services LLC bought a new position in Ares Management in the 2nd quarter worth approximately $43,000. 50.03% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Ares Management

In other news, Chairman Antony P. Ressler sold 196,197 shares of the stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $178.79, for a total transaction of $35,078,061.63. Following the completion of the transaction, the chairman directly owned 1,424,538 shares in the company, valued at $254,693,149.02. This represents a 12.11% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Michael J. Arougheti sold 136,516 shares of the firm's stock in a transaction dated 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 sale, the chief executive officer owned 311,728 shares of the company's stock, valued at $56,965,174.72. This trade represents a 30.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 2,590,000 shares of company stock valued at $464,430,639. Corporate insiders own 0.52% of the company's stock.

Analyst Ratings Changes

ARES has been the subject of several research analyst reports. Barclays boosted their price objective on shares of Ares Management from $182.00 to $200.00 and gave the stock an "overweight" rating in a research report on Thursday, July 10th. Royal Bank Of Canada reiterated an "outperform" rating and set a $215.00 target price on shares of Ares Management in a research report on Monday, September 29th. Wells Fargo & Company upped their target price on shares of Ares Management from $189.00 to $202.00 and gave the company an "overweight" rating in a research report on Friday, July 11th. JMP Securities upped their target price on shares of Ares Management from $195.00 to $205.00 and gave the company a "market outperform" rating in a research report on Wednesday, August 6th. Finally, BMO Capital Markets initiated coverage on shares of Ares Management in a research report on Friday, October 3rd. They set a "market perform" rating and a $156.00 target price for the company. Thirteen research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $180.81.

Ares Management Price Performance

ARES opened at $148.78 on Wednesday. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.64. Ares Management Corporation has a 12 month low of $110.63 and a 12 month high of $200.49. The company has a fifty day simple moving average of $177.64 and a 200 day simple moving average of $167.38. The stock has a market cap of $48.61 billion, a P/E ratio of 86.00, a P/E/G ratio of 1.18 and a beta of 1.43.

Ares Management (NYSE:ARES - Get Free Report) last released its quarterly earnings data on Friday, August 1st. The asset manager reported $1.03 EPS for the quarter, missing analysts' consensus estimates of $1.15 by ($0.12). The firm had revenue of $1.35 billion during the quarter, compared to the consensus estimate 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 in the prior year, the company earned $0.99 EPS. On average, research analysts expect that Ares Management Corporation will post 5.28 EPS for the current year.

Ares Management Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th were issued a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date was Tuesday, September 16th. Ares Management's dividend payout ratio is 258.96%.

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.

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