Sowell Financial Services LLC Makes New $222,000 Investment in Ares Management Corporation (NYSE:ARES)

Sowell Financial Services LLC acquired a new position in shares of Ares Management Corporation (NYSE:ARES - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 1,511 shares of the asset manager's stock, valued at approximately $222,000.

Other large investors also recently made changes to their positions in the company. Transce3nd LLC bought a new position in Ares Management during the fourth quarter worth about $29,000. Johnson Financial Group Inc. boosted its position in Ares Management by 104.8% during the fourth quarter. Johnson Financial Group Inc. now owns 170 shares of the asset manager's stock worth $30,000 after purchasing an additional 87 shares during the period. Elequin Capital LP acquired a new position in shares of Ares Management in the fourth quarter valued at $33,000. Noble Wealth Management PBC bought a new position in shares of Ares Management in the fourth quarter valued at about $36,000. Finally, Global Financial Private Client LLC lifted its stake in shares of Ares Management by 125.6% during the 1st quarter. Global Financial Private Client LLC now owns 264 shares of the asset manager's stock worth $39,000 after buying an additional 147 shares during the last quarter. Institutional investors and hedge funds own 50.03% of the company's stock.

Ares Management Stock Down 0.8%

ARES stock opened at $165.93 on Monday. Ares Management Corporation has a 52 week low of $110.63 and a 52 week high of $200.49. The business has a 50-day simple moving average of $160.75 and a 200 day simple moving average of $166.71. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.61. The company has a market cap of $54.19 billion, a PE ratio of 97.60, a price-to-earnings-growth ratio of 1.30 and a beta of 1.38.

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, beating the consensus estimate 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 last year, the firm earned $0.80 EPS. Sell-side analysts anticipate that Ares Management Corporation will post 5.28 EPS 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 paid a $1.12 dividend. The ex-dividend date is Monday, June 16th. This represents a $4.48 dividend on an annualized basis and a yield of 2.70%. Ares Management's dividend payout ratio (DPR) is 263.53%.

Insider Buying and Selling at Ares Management

In other Ares Management news, insider David B. Kaplan sold 5,205 shares of the firm's stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $165.06, for a total value of $859,137.30. Following the sale, the insider now owns 56,669 shares in the company, valued at $9,353,785.14. This trade represents a 8.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Michael J. Arougheti sold 57,208 shares of the business's stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $169.55, for a total transaction of $9,699,616.40. Following the sale, the chief executive officer now directly owns 532,792 shares in the company, valued at approximately $90,334,883.60. The trade was a 9.70% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 873,145 shares of company stock worth $146,204,353 over the last three months. Corporate insiders own 0.52% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on ARES shares. The Goldman Sachs Group decreased their price target on shares of Ares Management from $188.00 to $166.00 and set a "buy" rating on the stock in a research note on Thursday, April 3rd. Barclays boosted their price objective on Ares Management from $142.00 to $182.00 and gave the stock an "overweight" rating in a report on Tuesday, May 6th. Morgan Stanley lowered their target price on Ares Management from $197.00 to $152.00 and set an "equal weight" rating on the stock in a research note on Monday, April 14th. Citizens Jmp upgraded Ares Management from a "market perform" rating to an "outperform" rating and set a $165.00 price target for the company in a research note on Tuesday, April 8th. Finally, Wells Fargo & Company upped their price objective on Ares Management from $182.00 to $189.00 and gave the company an "overweight" rating in a report on Friday, May 23rd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $174.94.

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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