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Sheaff Brock Investment Advisors LLC Raises Position in Ares Management Corporation (NYSE:ARES)

Ares Management logo with Finance background

Key Points

  • Sheaff Brock Investment Advisors LLC increased its stake in Ares Management Corporation by 202.6%, now owning 3,489 shares valued at $512,000.
  • Recently, the company declared a quarterly dividend of $1.12 per share, amounting to an annual yield of 2.39% with a high dividend payout ratio of 263.53%.
  • Ares Management reported quarterly earnings per share of $1.09, surpassing analysts' expectations, with total revenue for the quarter reaching $951.96 million.
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Sheaff Brock Investment Advisors LLC grew its position in Ares Management Corporation (NYSE:ARES - Free Report) by 202.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,489 shares of the asset manager's stock after acquiring an additional 2,336 shares during the period. Sheaff Brock Investment Advisors LLC's holdings in Ares Management were worth $512,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in ARES. Teacher Retirement System of Texas purchased a new stake in Ares Management during the fourth quarter worth about $312,000. LPL Financial LLC boosted its holdings in Ares Management by 16.1% during the fourth quarter. LPL Financial LLC now owns 115,176 shares of the asset manager's stock worth $20,390,000 after buying an additional 16,001 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in Ares Management by 12.9% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 138,355 shares of the asset manager's stock worth $25,057,000 after buying an additional 15,761 shares in the last quarter. Pictet Asset Management Holding SA boosted its holdings in Ares Management by 8.2% during the fourth quarter. Pictet Asset Management Holding SA now owns 80,596 shares of the asset manager's stock worth $14,268,000 after buying an additional 6,084 shares in the last quarter. Finally, Allstate Corp purchased a new stake in Ares Management during the fourth quarter worth about $968,000. Hedge funds and other institutional investors own 50.03% of the company's stock.

Insider Buying and Selling

In related news, Chairman Bennett Rosenthal sold 85,000 shares of the company's stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $168.79, for a total transaction of $14,347,150.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael J. Arougheti sold 182,108 shares of the company's stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $170.07, for a total transaction of $30,971,107.56. Following the transaction, the chief executive officer directly owned 350,684 shares of the company's stock, valued at $59,640,827.88. This trade represents a 34.18% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 873,145 shares of company stock valued at $146,204,353. Insiders own 0.52% of the company's stock.

Ares Management Stock Performance

NYSE:ARES opened at $187.37 on Tuesday. The firm has a 50 day simple moving average of $172.05 and a 200-day simple moving average of $166.43. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.07 and a quick ratio of 1.07. The firm has a market cap of $61.19 billion, a PE ratio of 110.22, a P/E/G ratio of 1.52 and a beta of 1.37. 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 data on Monday, May 5th. The asset manager reported $1.09 earnings per share for the quarter, beating 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 business posted $0.80 earnings per share. On average, equities analysts expect that Ares Management Corporation will post 5.28 EPS for the current year.

Ares Management Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 16th were given a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a yield of 2.39%. The ex-dividend date of this dividend was Monday, June 16th. Ares Management's dividend payout ratio (DPR) is 263.53%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on ARES. Citigroup reissued an "outperform" rating on shares of Ares Management in a report on Monday, July 14th. JMP Securities set a $195.00 price target on shares of Ares Management and gave the company a "market outperform" rating in a report on Monday, July 14th. Wolfe Research set a $193.00 price target on shares of Ares Management and gave the company an "outperform" rating in a report on Tuesday, May 6th. Oppenheimer downgraded shares of Ares Management from an "outperform" rating to a "market perform" rating in a report on Thursday, May 15th. Finally, Raymond James Financial assumed coverage on shares of Ares Management in a report on Monday. They issued a "market perform" rating on the stock. One investment analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $177.50.

Check Out Our Latest Stock Report on ARES

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.

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Institutional Ownership by Quarter for Ares Management (NYSE:ARES)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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