TD Asset Management Inc Has $176.08 Million Stock Position in Ares Management Corporation (NYSE:ARES)

Key Points

• TD Asset Management Inc has reduced its holdings in Ares Management Corporation by 8.0%, owning approximately 0.38% of the company, valued at $176 million.
• Wall Street analysts have adjusted their target prices for Ares Management, with TD Cowen lowering its target from $216.00 to $161.00, while Barclays raised it from $182.00 to $200.00.
• Ares Management recently announced a quarterly dividend of $1.12, resulting in an annualized dividend yield of 2.41%, although the company's payout ratio stands at a high 263.53%.

TD Asset Management Inc lessened its holdings in shares of Ares Management Corporation (NYSE:ARES - Free Report) by 8.0% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 1,200,992 shares of the asset manager's stock after selling 103,767 shares during the period. TD Asset Management Inc owned approximately 0.38% of Ares Management worth $176,077,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. Huntington National Bank raised its holdings in Ares Management by 9.8% in the 4th quarter. Huntington National Bank now owns 704 shares of the asset manager's stock valued at $125,000 after acquiring an additional 63 shares in the last quarter. Canton Hathaway LLC raised its holdings in Ares Management by 9.5% in the 1st quarter. Canton Hathaway LLC now owns 865 shares of the asset manager's stock valued at $127,000 after acquiring an additional 75 shares in the last quarter. Bessemer Group Inc. raised its holdings in Ares Management by 1.8% in the 1st quarter. Bessemer Group Inc. now owns 4,360 shares of the asset manager's stock valued at $639,000 after acquiring an additional 78 shares in the last quarter. First Manhattan CO. LLC. raised its holdings in shares of Ares Management by 0.5% in the 4th quarter. First Manhattan CO. LLC. now owns 17,628 shares of the asset manager's stock worth $3,121,000 after buying an additional 83 shares in the last quarter. Finally, Johnson Financial Group Inc. raised its holdings in shares of Ares Management by 104.8% in the 4th quarter. Johnson Financial Group Inc. now owns 170 shares of the asset manager's stock worth $30,000 after buying an additional 87 shares in the last quarter. Institutional investors and hedge funds own 50.03% of the company's stock.

Ares Management Trading Up 0.3%

ARES traded up $0.63 during mid-day trading on Wednesday, reaching $188.56. The stock had a trading volume of 290,850 shares, compared to its average volume of 1,655,610. The stock has a market capitalization of $61.58 billion, a P/E ratio of 110.99, a P/E/G ratio of 1.53 and a beta of 1.37. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.07 and a current ratio of 1.07. The firm's fifty day simple moving average is $172.49 and its two-hundred day simple moving average is $166.58. Ares Management Corporation has a 52 week low of $110.63 and a 52 week high of $200.49.

Ares Management (NYSE:ARES - Get Free Report) last announced its quarterly earnings data on Monday, May 5th. The asset manager reported $1.09 EPS for the quarter, beating analysts' consensus estimates of $0.94 by $0.15. The firm had revenue of $951.96 million for the quarter, compared to analyst estimates 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 last year, the company earned $0.80 EPS. On average, equities analysts predict that Ares Management Corporation will post 5.28 EPS for the current year.

Ares Management Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 16th were given a $1.12 dividend. The ex-dividend date of this dividend was Monday, June 16th. This represents a $4.48 dividend on an annualized basis and a yield of 2.38%. Ares Management's payout ratio is 263.53%.

Wall Street Analyst Weigh In

ARES has been the subject of a number of recent research reports. The Goldman Sachs Group dropped their target price on Ares Management from $188.00 to $166.00 and set a "buy" rating for the company in a report on Thursday, April 3rd. Wells Fargo & Company increased their target price on Ares Management from $189.00 to $202.00 and gave the stock an "overweight" rating in a report on Friday, July 11th. Bank of America dropped their target price on Ares Management from $221.00 to $201.00 and set a "buy" rating for the company in a report on Friday, April 4th. Raymond James Financial initiated coverage on Ares Management in a report on Monday. They issued a "market perform" rating for the company. Finally, TD Cowen dropped their target price on Ares Management from $216.00 to $161.00 and set a "buy" rating for the company in a report on Wednesday, April 9th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, Ares Management has a consensus rating of "Moderate Buy" and an average price target of $177.50.

Insider Buying and Selling at Ares Management

In other news, insider David B. Kaplan sold 62,500 shares of the stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $169.36, for a total value of $10,585,000.00. Following the transaction, the insider owned 62,500 shares of the company's stock, valued at $10,585,000. This represents a 50.00% decrease in their position. 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 stock in a transaction 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. In the last ninety days, insiders have sold 873,145 shares of company stock worth $146,204,353. Insiders own 0.52% of the company's stock.

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.