Ares Management Corporation $ARES Stock Holdings Decreased by State of New Jersey Common Pension Fund D

Key Points

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State of New Jersey Common Pension Fund D lowered its position in shares of Ares Management Corporation (NYSE:ARES - Free Report) by 13.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 58,178 shares of the asset manager's stock after selling 8,772 shares during the quarter. State of New Jersey Common Pension Fund D's holdings in Ares Management were worth $8,529,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in Ares Management by 2.0% during the first quarter. Vanguard Group Inc. now owns 19,189,991 shares of the asset manager's stock worth $2,813,445,000 after acquiring an additional 382,273 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Ares Management by 0.4% during the first quarter. JPMorgan Chase & Co. now owns 8,308,330 shares of the asset manager's stock worth $1,218,084,000 after acquiring an additional 30,451 shares during the last quarter. Brown Advisory Inc. boosted its position in Ares Management by 8.8% during the fourth quarter. Brown Advisory Inc. now owns 3,727,597 shares of the asset manager's stock worth $659,896,000 after acquiring an additional 302,303 shares during the last quarter. Principal Financial Group Inc. boosted its position in Ares Management by 4.8% during the first quarter. Principal Financial Group Inc. now owns 3,354,032 shares of the asset manager's stock worth $491,735,000 after acquiring an additional 152,169 shares during the last quarter. Finally, Northern Trust Corp boosted its position in Ares Management by 14.1% during the fourth quarter. Northern Trust Corp now owns 1,191,682 shares of the asset manager's stock worth $210,963,000 after acquiring an additional 147,162 shares during the last quarter. Institutional investors and hedge funds own 50.03% of the company's stock.

Insiders Place Their Bets

In other Ares Management news, Chairman Antony P. Ressler sold 105,394 shares of the business's stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $181.65, for a total value of $19,144,820.10. Following the transaction, the chairman owned 1,733,257 shares in the company, valued at $314,846,134.05. The trade was a 5.73% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Michael J. Arougheti sold 136,516 shares of the business's stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $182.74, for a total transaction of $24,946,933.84. Following the completion of the transaction, the chief executive officer owned 311,728 shares in the company, valued at $56,965,174.72. This represents a 30.46% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 992,628 shares of company stock worth $177,736,922 in the last quarter. 36.86% of the stock is owned by corporate insiders.

Ares Management Trading Up 1.5%

Shares of ARES stock traded up $2.5950 during mid-day trading on Friday, reaching $180.8550. The company's stock had a trading volume of 1,500,347 shares, compared to its average volume of 1,350,245. The company's 50 day simple moving average is $179.73 and its 200-day simple moving average is $166.10. Ares Management Corporation has a 12-month low of $110.63 and a 12-month high of $200.49. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.64. The firm has a market capitalization of $59.09 billion, a PE ratio of 104.54, a price-to-earnings-growth ratio of 1.40 and a beta of 1.40.

Ares Management (NYSE:ARES - Get Free Report) last issued its earnings results on Friday, August 1st. The asset manager reported $1.03 EPS for the quarter, missing analysts' consensus estimates of $1.15 by ($0.12). Ares Management had a net margin of 9.47% and a return on equity of 15.81%. The business had revenue of $1.35 billion during the quarter, compared to analysts' expectations of $1.02 billion. During the same period in the prior year, the business posted $0.99 EPS. On average, research analysts predict that Ares Management Corporation will post 5.28 EPS for the current fiscal year.

Ares Management Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th will be paid a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend is Tuesday, September 16th. Ares Management's dividend payout ratio (DPR) is currently 258.96%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on ARES shares. Cfra Research upgraded shares of Ares Management to a "moderate buy" rating in a research report on Monday, August 4th. Wells Fargo & Company lifted their price target on shares of Ares Management from $189.00 to $202.00 and gave the company an "overweight" rating in a report on Friday, July 11th. Royal Bank Of Canada lifted their price target on shares of Ares Management from $195.00 to $215.00 and gave the company an "outperform" rating in a report on Monday. 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. Finally, Citigroup reiterated an "outperform" rating on shares of Ares Management in a report on Monday, July 14th. Thirteen equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat, Ares Management currently has a consensus rating of "Moderate Buy" and an average target price of $180.06.

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.