True Vision MN LLC Invests $350,000 in Ares Management Corporation (NYSE:ARES)

True Vision MN LLC purchased a new position in Ares Management Corporation (NYSE:ARES - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,388 shares of the asset manager's stock, valued at approximately $350,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in Ares Management by 5.1% in the 4th quarter. Vanguard Group Inc. now owns 18,807,718 shares of the asset manager's stock worth $3,329,530,000 after acquiring an additional 907,757 shares in the last quarter. Capital World Investors lifted its stake in Ares Management by 2.1% in the 4th quarter. Capital World Investors now owns 10,753,779 shares of the asset manager's stock worth $1,903,741,000 after acquiring an additional 223,919 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Ares Management by 0.4% in the 4th quarter. JPMorgan Chase & Co. now owns 8,277,879 shares of the asset manager's stock worth $1,465,433,000 after acquiring an additional 33,700 shares in the last quarter. FMR LLC lifted its stake in Ares Management by 12.8% in the 4th quarter. FMR LLC now owns 7,109,070 shares of the asset manager's stock worth $1,258,519,000 after acquiring an additional 807,361 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its stake in Ares Management by 1.3% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 5,126,442 shares of the asset manager's stock worth $907,534,000 after acquiring an additional 66,671 shares in the last quarter. Institutional investors own 50.03% of the company's stock.

Ares Management Stock Performance

ARES traded up $3.06 during midday trading on Thursday, reaching $180.03. The company's stock had a trading volume of 980,062 shares, compared to its average volume of 1,431,344. The stock has a market cap of $58.79 billion, a P/E ratio of 105.90, a PEG ratio of 1.38 and a beta of 1.37. The company has a fifty day simple moving average of $168.04 and a 200 day simple moving average of $166.50. 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 Corporation has a twelve month low of $110.63 and a twelve month 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 (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 quarter last year, the firm posted $0.80 EPS. Research analysts expect that Ares Management Corporation will post 5.28 earnings per share for the current year.

Ares Management Dividend Announcement

The firm also recently announced 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 2.49%. The ex-dividend date was Monday, June 16th. Ares Management's dividend payout ratio (DPR) is currently 263.53%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on ARES shares. Wells Fargo & Company increased their price objective on Ares Management from $182.00 to $189.00 and gave the stock an "overweight" rating in a research note on Friday, May 23rd. JMP Securities raised their price target on Ares Management from $165.00 to $185.00 and gave the stock a "market outperform" rating in a research note on Thursday, May 8th. The Goldman Sachs Group cut their price target on Ares Management from $188.00 to $166.00 and set a "buy" rating for the company in a research note on Thursday, April 3rd. Morgan Stanley cut their price target on Ares Management from $197.00 to $152.00 and set an "equal weight" rating for the company in a research note on Monday, April 14th. Finally, Barclays raised their price target on Ares Management from $182.00 to $200.00 and gave the stock an "overweight" rating in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, Ares Management currently has a consensus rating of "Moderate Buy" and a consensus target price of $176.06.

Insider Buying and Selling at Ares Management

In other news, CEO Michael J. Arougheti sold 107,500 shares of Ares Management stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $161.34, for a total transaction of $17,344,050.00. Following the sale, the chief executive officer owned 1,400,000 shares of the company's stock, valued at approximately $225,876,000. This trade represents a 7.13% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider David B. Kaplan sold 33,145 shares of Ares Management stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $165.12, for a total value of $5,472,902.40. The disclosure for this sale can be found here. Insiders have sold 873,145 shares of company stock valued at $146,204,353 in the last 90 days. 36.86% of the stock is currently owned by 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.