Ares Management Corporation (NYSE:ARES) Shares Sold by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd lowered its stake in shares of Ares Management Corporation (NYSE:ARES - Free Report) by 28.1% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 120,367 shares of the asset manager's stock after selling 47,094 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in Ares Management were worth $17,647,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of ARES. Transce3nd LLC purchased a new position in shares of Ares Management during the 4th quarter worth about $29,000. Johnson Financial Group Inc. lifted its stake in Ares Management by 104.8% in 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 last quarter. Elequin Capital LP purchased a new position in shares of Ares Management during the fourth quarter valued at approximately $33,000. Noble Wealth Management PBC purchased a new stake in shares of Ares Management in the fourth quarter worth approximately $36,000. Finally, Global Financial Private Client LLC raised its holdings in shares of Ares Management by 125.6% in the first 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 period. Hedge funds and other institutional investors own 50.03% of the company's stock.

Ares Management Stock Down 0.0%

Shares of ARES 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 stock has a market cap of $58.12 billion, a PE ratio of 104.68, a PEG ratio of 1.40 and a beta of 1.37. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.61. The stock's fifty day moving average price is $166.68 and its two-hundred day moving average price is $166.42. 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 released its earnings results on Monday, May 5th. The asset manager reported $1.09 earnings per share for the quarter, topping the consensus estimate of $0.94 by $0.15. The company had revenue of $951.96 million for the quarter, compared to the consensus estimate of $914.00 million. Ares Management had a net margin of 9.73% and a return on equity of 16.29%. During the same quarter in the previous year, the firm earned $0.80 EPS. Research analysts predict that Ares Management Corporation will post 5.28 EPS for the current year.

Ares Management Announces Dividend

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

Insider Buying and Selling

In related news, insider David B. Kaplan sold 62,500 shares of Ares Management stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $169.36, for a total transaction of $10,585,000.00. Following the completion of the sale, the insider owned 62,500 shares of the company's stock, valued at $10,585,000. The trade was a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 value of $14,347,150.00. The disclosure for this sale can be found here. Insiders sold 873,145 shares of company stock worth $146,204,353 in the last 90 days. Insiders own 36.86% of the company's stock.

Analyst Ratings Changes

ARES has been the topic of several research analyst reports. TD Cowen cut their price objective on Ares Management from $216.00 to $161.00 and set a "buy" rating on the stock in a research report on Wednesday, April 9th. Barclays raised their price target on shares of Ares Management from $142.00 to $182.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 6th. The Goldman Sachs Group lowered their price objective on shares of Ares Management from $188.00 to $166.00 and set a "buy" rating for the company in a research report on Thursday, April 3rd. Bank of America dropped their target price on shares of Ares Management from $221.00 to $201.00 and set a "buy" rating on the stock in a research note on Friday, April 4th. Finally, Oppenheimer downgraded shares of Ares Management from an "outperform" rating to a "market perform" rating in a research note on Thursday, May 15th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $174.94.

Ares Management Company 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.