SVB Wealth LLC Sells 20,090 Shares of Ares Management Corporation $ARES

Key Points

• SVB Wealth LLC has decreased its holdings in Ares Management Corporation by 39.1%, selling 20,090 shares and retaining 31,333 shares worth approximately $4.59 million.
• Ares Management reported $1.03 earnings per share for the last quarter, missing the consensus estimate of $1.15, while generating revenue of $1.35 billion, exceeding expectations.
• The company announced a quarterly dividend of $1.12 per share, resulting in an annualized dividend of $4.48 and a yield of 2.5%.

SVB Wealth LLC decreased its stake in Ares Management Corporation (NYSE:ARES - Free Report) by 39.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 31,333 shares of the asset manager's stock after selling 20,090 shares during the period. SVB Wealth LLC's holdings in Ares Management were worth $4,594,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Johnson Financial Group Inc. grew its holdings in shares of Ares Management by 104.8% during the 4th quarter. Johnson Financial Group Inc. now owns 170 shares of the asset manager's stock valued at $30,000 after purchasing an additional 87 shares during the last quarter. Elequin Capital LP bought a new position in shares of Ares Management during the 4th quarter valued at $33,000. Redmont Wealth Advisors LLC bought a new position in shares of Ares Management during the 1st quarter valued at $28,000. Financial Network Wealth Advisors LLC bought a new position in shares of Ares Management during the 1st quarter valued at $31,000. Finally, Global Financial Private Client LLC grew its holdings 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 valued at $39,000 after purchasing an additional 147 shares during the last quarter. Institutional investors own 50.03% of the company's stock.

Insiders Place Their Bets

In other Ares Management news, Chairman Antony P. Ressler sold 196,197 shares of Ares Management stock in a transaction dated 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 completion of the transaction, the chairman directly owned 1,424,538 shares of the company's stock, valued at approximately $254,693,149.02. The trade was a 12.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Michael J. Arougheti sold 136,516 shares of Ares Management stock in a transaction dated 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 directly owned 311,728 shares of the company's stock, valued at $56,965,174.72. This trade represents a 30.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,340,276 shares of company stock valued at $239,866,215. Insiders own 0.52% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Royal Bank Of Canada increased their target price on shares of Ares Management from $195.00 to $215.00 and gave the company an "outperform" rating in a report on Monday, August 18th. Oppenheimer cut shares of Ares Management from an "outperform" rating to a "market perform" rating in a research report on Thursday, May 15th. Keefe, Bruyette & Woods increased their price target on shares of Ares Management from $193.00 to $203.00 and gave the company an "outperform" rating in a research report on Monday, August 4th. Citigroup reissued an "outperform" rating on shares of Ares Management in a research report on Monday, July 14th. Finally, Wolfe Research set a $193.00 price target on shares of Ares Management and gave the company an "outperform" rating in a research report on Tuesday, May 6th. Thirteen analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $182.73.

Ares Management Stock Up 0.5%

NYSE ARES traded up $0.88 during trading hours on Wednesday, reaching $179.81. 1,555,901 shares of the company's stock traded hands, compared to its average volume of 1,633,023. Ares Management Corporation has a 52-week low of $110.63 and a 52-week high of $200.49. The firm has a market cap of $58.74 billion, a PE ratio of 103.93, a PEG ratio of 1.40 and a beta of 1.40. The firm has a 50-day simple moving average of $180.23 and a 200 day simple moving average of $165.76. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.08 and a quick ratio of 1.08.

Ares Management (NYSE:ARES - Get Free Report) last issued its quarterly 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). 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 for the quarter, compared to analysts' expectations of $1.02 billion. During the same period last year, the business earned $0.99 earnings per share. Sell-side analysts anticipate that Ares Management Corporation will post 5.28 EPS for the current fiscal year.

Ares Management Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th will be issued a $1.12 dividend. The ex-dividend date of this dividend is Tuesday, September 16th. This represents a $4.48 annualized dividend and a yield of 2.5%. Ares Management's payout ratio is 258.96%.

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.