Ares Management Corporation (NYSE:ARES) Shares Acquired by Sage Advisors LLC

Sage Advisors LLC increased its holdings in shares of Ares Management Corporation (NYSE:ARES - Free Report) by 186.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,211 shares of the asset manager's stock after purchasing an additional 2,740 shares during the period. Ares Management makes up 0.4% of Sage Advisors LLC's holdings, making the stock its 21st biggest position. Sage Advisors LLC's holdings in Ares Management were worth $617,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Norges Bank purchased a new stake in Ares Management in the 4th quarter worth approximately $381,365,000. Raymond James Financial Inc. acquired a new position in shares of Ares Management in the 4th quarter valued at $335,858,000. TD Asset Management Inc. boosted its holdings in Ares Management by 4,557.2% during the fourth quarter. TD Asset Management Inc. now owns 1,304,759 shares of the asset manager's stock worth $230,981,000 after buying an additional 1,276,743 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Ares Management by 5.1% during the fourth quarter. Vanguard Group Inc. now owns 18,807,718 shares of the asset manager's stock worth $3,329,530,000 after buying an additional 907,757 shares in the last quarter. Finally, FMR LLC grew its position in Ares Management by 12.8% during the fourth quarter. FMR LLC now owns 7,109,070 shares of the asset manager's stock valued at $1,258,519,000 after buying an additional 807,361 shares during the period. 50.03% of the stock is currently owned by institutional investors and hedge funds.

Ares Management Price Performance

Shares of Ares Management stock traded down $0.02 during trading hours on Friday, reaching $177.96. 684,374 shares of the company's stock were exchanged, compared to its average volume of 1,426,981. The business has a fifty day moving average of $166.20 and a two-hundred day moving average of $166.43. The company has a market capitalization of $58.12 billion, a P/E ratio of 104.68, a price-to-earnings-growth ratio of 1.40 and a beta of 1.37. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.61. Ares Management Corporation has a 1 year low of $110.63 and a 1 year high of $200.49.

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

Ares Management Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 16th were issued a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a dividend yield of 2.52%. The ex-dividend date of this dividend was Monday, June 16th. Ares Management's dividend payout ratio is currently 263.53%.

Insider Activity

In related news, insider David B. Kaplan sold 33,145 shares of Ares Management stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $165.12, for a total transaction of $5,472,902.40. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Michael J. Arougheti sold 107,500 shares of the company's 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 completion of the sale, the chief executive officer owned 1,400,000 shares of the company's stock, valued at approximately $225,876,000. The trade was a 7.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 873,145 shares of company stock worth $146,204,353 over the last ninety days. Corporate insiders own 36.86% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on ARES. Morgan Stanley decreased their price objective on shares of Ares Management from $197.00 to $152.00 and set an "equal weight" rating for the company in a research report on Monday, April 14th. Wells Fargo & Company lifted their price target on Ares Management from $182.00 to $189.00 and gave the company an "overweight" rating in a research note on Friday, May 23rd. Oppenheimer downgraded Ares Management from an "outperform" rating to a "market perform" rating in a research report on Thursday, May 15th. TD Cowen cut their price objective on Ares Management from $216.00 to $161.00 and set a "buy" rating for the company in a research report on Wednesday, April 9th. Finally, Bank of America reduced their target price on Ares Management from $221.00 to $201.00 and set a "buy" rating for the company in a research note on Friday, April 4th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $174.94.

About Ares Management

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.