Sumitomo Mitsui DS Asset Management Company Ltd Has $15.34 Million Holdings in Ares Management Corporation $ARES

Key Points

• Sumitomo Mitsui DS Asset Management Company Ltd reduced its stake in Ares Management Corporation by 26.4%, resulting in ownership of 88,584 shares worth approximately $15.3 million as of the last reporting period.
• Ares Management reported earnings per share (EPS) of $1.03, falling short of analysts' expectations of $1.15, with revenue of $1.35 billion for the quarter.
• The firm declared a $1.12 quarterly dividend, with an annualized rate of $4.48, reflecting a high dividend payout ratio of 258.96%.

Sumitomo Mitsui DS Asset Management Company Ltd cut its holdings in shares of Ares Management Corporation (NYSE:ARES - Free Report) by 26.4% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 88,584 shares of the asset manager's stock after selling 31,783 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in Ares Management were worth $15,343,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Financial Management Network Inc. increased its holdings in Ares Management by 14.5% during the 2nd quarter. Financial Management Network Inc. now owns 2,486 shares of the asset manager's stock worth $442,000 after purchasing an additional 315 shares during the last quarter. Jackson Square Capital LLC acquired a new position in shares of Ares Management in the 2nd quarter worth approximately $1,022,000. Dynamic Advisor Solutions LLC grew its position in shares of Ares Management by 0.9% in the 2nd quarter. Dynamic Advisor Solutions LLC now owns 44,743 shares of the asset manager's stock worth $7,749,000 after acquiring an additional 384 shares in the last quarter. Pallas Capital Advisors LLC grew its position in shares of Ares Management by 1.5% in the 2nd quarter. Pallas Capital Advisors LLC now owns 29,466 shares of the asset manager's stock worth $5,103,000 after acquiring an additional 447 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB grew its position in shares of Ares Management by 27.0% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 1,518 shares of the asset manager's stock worth $263,000 after acquiring an additional 323 shares in the last quarter. 50.03% of the stock is currently owned by hedge funds and other institutional investors.

Ares Management Trading Down 0.2%

Shares of Ares Management stock traded down $0.43 on Friday, reaching $182.99. 2,112,012 shares of the company were exchanged, compared to its average volume of 1,256,915. The stock has a fifty day moving average price of $182.58 and a 200-day moving average price of $166.13. The firm has a market capitalization of $59.79 billion, a price-to-earnings ratio of 105.78, a price-to-earnings-growth ratio of 1.43 and a beta of 1.44. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.64. Ares Management Corporation has a fifty-two week low of $110.63 and a fifty-two week high of $200.49.

Ares Management (NYSE:ARES - Get Free Report) last announced its earnings results on Friday, August 1st. The asset manager reported $1.03 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.15 by ($0.12). The company had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.02 billion. Ares Management had a return on equity of 15.81% and a net margin of 9.47%.During the same period last year, the firm earned $0.99 earnings per share. On average, analysts expect that Ares Management Corporation will post 5.28 EPS for the current year.

Ares Management Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th will be given a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend is Tuesday, September 16th. Ares Management's payout ratio is presently 258.96%.

Insider Buying and Selling at Ares Management

In related news, CEO Michael J. Arougheti sold 136,516 shares of the company'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 transaction, the chief executive officer directly owned 311,728 shares of the company's stock, valued at approximately $56,965,174.72. The trade was a 30.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Antony P. Ressler sold 196,197 shares of the company's stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $178.79, for a total value of $35,078,061.63. Following the transaction, the chairman directly owned 1,424,538 shares in the company, valued at $254,693,149.02. The trade was a 12.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,590,000 shares of company stock worth $464,430,639 over the last three months. 36.86% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Barclays boosted their price objective on Ares Management from $182.00 to $200.00 and gave the company an "overweight" rating in a research report on Thursday, July 10th. Royal Bank Of Canada boosted their price objective on Ares Management from $195.00 to $215.00 and gave the company an "outperform" rating in a research report on Monday, August 18th. Keefe, Bruyette & Woods boosted their price objective on Ares Management from $193.00 to $203.00 and gave the company an "outperform" rating in a research report on Monday, August 4th. Raymond James Financial assumed coverage on Ares Management in a research report on Monday, July 28th. They set a "market perform" rating for the company. Finally, Cfra Research upgraded Ares Management to a "moderate buy" rating in a research report on Monday, August 4th. Thirteen investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat, Ares Management currently has a consensus rating of "Moderate Buy" and an average target price of $182.73.

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.