Sumitomo Mitsui Trust Group Inc. Has $61.03 Million Stock Position in Ares Management Corporation (NYSE:ARES)

Sumitomo Mitsui Trust Group Inc. grew its position in Ares Management Corporation (NYSE:ARES - Free Report) by 0.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 416,257 shares of the asset manager's stock after purchasing an additional 2,904 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.13% of Ares Management worth $61,027,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in ARES. IFP Advisors Inc boosted its position in shares of Ares Management by 61.3% during the 4th quarter. IFP Advisors Inc now owns 866 shares of the asset manager's stock valued at $153,000 after purchasing an additional 329 shares in the last quarter. Oppenheimer Asset Management Inc. lifted its stake in Ares Management by 14.3% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 4,933 shares of the asset manager's stock valued at $873,000 after purchasing an additional 618 shares during the last quarter. QRG Capital Management Inc. boosted its holdings in Ares Management by 64.4% during the fourth quarter. QRG Capital Management Inc. now owns 3,750 shares of the asset manager's stock worth $664,000 after buying an additional 1,469 shares in the last quarter. Private Trust Co. NA boosted its holdings in Ares Management by 43.0% during the fourth quarter. Private Trust Co. NA now owns 336 shares of the asset manager's stock worth $59,000 after buying an additional 101 shares in the last quarter. Finally, Noble Wealth Management PBC acquired a new position in Ares Management in the fourth quarter worth approximately $36,000. Institutional investors and hedge funds own 50.03% of the company's stock.

Analysts Set New Price Targets

ARES has been the subject of several recent analyst reports. Oppenheimer cut Ares Management from an "outperform" rating to a "market perform" rating in a research report on Thursday, May 15th. The Goldman Sachs Group dropped their target price on Ares Management from $188.00 to $166.00 and set a "buy" rating on the stock in a research report on Thursday, April 3rd. Wolfe Research set a $193.00 price target on Ares Management and gave the company an "outperform" rating in a report on Tuesday, May 6th. JMP Securities boosted their price target on Ares Management from $165.00 to $185.00 and gave the company a "market outperform" rating in a research note on Thursday, May 8th. Finally, Morgan Stanley cut their price objective on shares of Ares Management from $197.00 to $152.00 and set an "equal weight" rating on the stock in a research report on Monday, April 14th. One research 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 stock currently has an average rating of "Moderate Buy" and an average target price of $174.94.

Ares Management Stock Performance

ARES traded down $0.02 during trading on Friday, hitting $177.96. The stock had a trading volume of 684,374 shares, compared to its average volume of 1,426,981. The company has a 50 day simple moving average of $166.20 and a 200-day simple moving average of $166.43. Ares Management Corporation has a 12 month low of $110.63 and a 12 month high of $200.49. The firm has a market cap of $58.12 billion, a PE ratio of 104.68, a P/E/G 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.

Ares Management (NYSE:ARES - Get Free Report) last issued its quarterly earnings results on Monday, May 5th. The asset manager reported $1.09 EPS 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 return on equity of 16.29% and a net margin of 9.73%. During the same period in the previous year, the business posted $0.80 EPS. Analysts expect that Ares Management Corporation will post 5.28 EPS for the current year.

Ares Management Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 16th were issued a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a yield of 2.52%. The ex-dividend date was Monday, June 16th. Ares Management's dividend payout ratio (DPR) is presently 263.53%.

Insiders Place Their Bets

In other news, insider David B. Kaplan sold 33,145 shares of the company's stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $165.12, for a total transaction of $5,472,902.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Michael J. Arougheti sold 107,500 shares of Ares Management stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $161.34, for a total value of $17,344,050.00. Following the sale, the chief executive officer directly owned 1,400,000 shares in the company, valued at approximately $225,876,000. This trade represents a 7.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 873,145 shares of company stock worth $146,204,353 in the last ninety days. Insiders own 36.86% of the company's stock.

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.