Swedbank AB Purchases New Position in Ares Management Corporation $ARES

Key Points

• Swedbank AB acquired a new position in Ares Management Corporation, purchasing 10,864 shares valued at approximately $1.88 million in the second quarter.
• Ares Management's latest earnings report showed $1.03 EPS, missing analysts' expectations, but it generated $1.35 billion in revenue, surpassing projections.
• The company announced a quarterly dividend of $1.12 per share, with an upcoming ex-dividend date on September 16th, representing an annual yield of 2.5%.

Swedbank AB purchased a new stake in shares of Ares Management Corporation (NYSE:ARES - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 10,864 shares of the asset manager's stock, valued at approximately $1,882,000.

Other institutional investors also recently modified their holdings of the company. Redmont Wealth Advisors LLC bought a new position in shares of Ares Management in the first quarter worth about $28,000. Financial Network Wealth Advisors LLC acquired a new position in shares of Ares Management in the first quarter valued at approximately $31,000. Global Financial Private Client LLC boosted 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 valued at $39,000 after buying an additional 147 shares during the period. Rakuten Securities Inc. boosted its holdings in Ares Management by 3,262.5% during the first quarter. Rakuten Securities Inc. now owns 269 shares of the asset manager's stock worth $39,000 after purchasing an additional 261 shares during the last quarter. Finally, Banque Transatlantique SA acquired a new position in Ares Management during the first quarter worth $39,000. 50.03% of the stock is owned by institutional investors.

Ares Management Stock Performance

Shares of ARES stock opened at $181.99 on Tuesday. The firm has a market capitalization of $59.46 billion, a PE ratio of 105.19, a price-to-earnings-growth ratio of 1.43 and a beta of 1.44. The firm has a fifty day simple moving average of $182.61 and a two-hundred day simple moving average of $166.41. 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 12 month low of $110.63 and a 12 month high of $200.49.

Ares Management (NYSE:ARES - Get Free Report) last announced its quarterly 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). The business had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.02 billion. Ares Management had a net margin of 9.47% and a return on equity of 15.81%. During the same quarter last year, the firm posted $0.99 EPS. Analysts forecast that Ares Management Corporation will post 5.28 EPS for the current fiscal year.

Ares Management Announces Dividend

The business 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. The ex-dividend date is Tuesday, September 16th. This represents a $4.48 annualized dividend and a yield of 2.5%. Ares Management's dividend payout ratio is presently 258.96%.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Raymond James Financial assumed coverage on shares of Ares Management in a research report on Monday, July 28th. They set a "market perform" rating on the stock. Cfra Research raised shares of Ares Management to a "moderate buy" rating in a research report on Monday, August 4th. Wells Fargo & Company upped their price target on shares of Ares Management from $189.00 to $202.00 and gave the company an "overweight" rating in a research note on Friday, July 11th. Barclays increased their price objective on shares of Ares Management from $182.00 to $200.00 and gave the stock an "overweight" rating in a research note on Thursday, July 10th. Finally, Keefe, Bruyette & Woods raised their target price on shares of Ares Management from $193.00 to $203.00 and gave the company an "outperform" rating in a report on Monday, August 4th. Thirteen analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $182.73.

Insider Activity

In other Ares Management news, Chairman Antony P. Ressler sold 196,197 shares of the company's stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $178.79, for a total transaction of $35,078,061.63. Following the sale, the chairman directly owned 1,424,538 shares of the company's stock, valued at $254,693,149.02. This represents a 12.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Michael J. Arougheti sold 136,516 shares of the 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 sale, the chief executive officer directly owned 311,728 shares in the company, valued at approximately $56,965,174.72. The trade was a 30.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,590,000 shares of company stock valued at $464,430,639. 0.52% of the stock is owned by company insiders.

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.

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