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

True Vision MN LLC bought a new stake in Ares Management Corporation (NYSE:ARES - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 2,388 shares of the asset manager's stock, valued at approximately $350,000.

A number of other institutional investors have also made changes to their positions in ARES. Vanguard Group Inc. grew its position 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 valued at $3,329,530,000 after acquiring an additional 907,757 shares in the last quarter. Capital World Investors grew its holdings in shares of Ares Management by 2.1% in the fourth quarter. Capital World Investors now owns 10,753,779 shares of the asset manager's stock valued at $1,903,741,000 after purchasing an additional 223,919 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Ares Management by 0.4% during the 4th quarter. JPMorgan Chase & Co. now owns 8,277,879 shares of the asset manager's stock worth $1,465,433,000 after buying an additional 33,700 shares during the period. FMR LLC lifted its holdings in Ares Management by 12.8% during the 4th quarter. FMR LLC now owns 7,109,070 shares of the asset manager's stock worth $1,258,519,000 after buying an additional 807,361 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its position 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 valued at $907,534,000 after buying an additional 66,671 shares during the period. 50.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently weighed in on ARES shares. Citizens Jmp raised Ares Management from a "market perform" rating to an "outperform" rating and set a $165.00 price objective on the stock in a research report on Tuesday, April 8th. Oppenheimer downgraded Ares Management from an "outperform" rating to a "market perform" rating in a report on Thursday, May 15th. JMP Securities increased their price target on Ares Management from $165.00 to $185.00 and gave the company a "market outperform" rating in a research report on Thursday, May 8th. Wells Fargo & Company lifted their price objective on Ares Management from $189.00 to $202.00 and gave the company an "overweight" rating in a research note on Friday. Finally, Bank of America cut their target price on shares of Ares Management from $221.00 to $201.00 and set a "buy" rating on the stock in a research note on Friday, April 4th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have given a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $176.88.

Ares Management Stock Down 1.5%

NYSE:ARES traded down $2.73 during midday trading on Friday, hitting $177.40. 713,906 shares of the company were exchanged, compared to its average volume of 1,428,369. Ares Management Corporation has a fifty-two week low of $110.63 and a fifty-two week high of $200.49. The company has a market capitalization of $57.94 billion, a PE ratio of 104.35, a price-to-earnings-growth ratio of 1.47 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. The company has a fifty day simple moving average of $168.99 and a 200 day simple moving average of $166.48.

Ares Management (NYSE:ARES - Get Free Report) last posted its earnings results on Monday, May 5th. The asset manager reported $1.09 EPS for the quarter, topping analysts' consensus estimates of $0.94 by $0.15. The business had revenue of $951.96 million for the quarter, compared to analysts' expectations 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 in the previous year, the firm earned $0.80 earnings per share. As a group, equities analysts anticipate that Ares Management Corporation will post 5.28 earnings per share for the current fiscal year.

Ares Management Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 16th were paid a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a yield of 2.53%. The ex-dividend date of this dividend was Monday, June 16th. Ares Management's dividend payout ratio is currently 263.53%.

Insider Activity

In other Ares Management news, CEO Michael J. Arougheti sold 107,500 shares of Ares Management stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $161.34, for a total value of $17,344,050.00. Following the transaction, the chief executive officer directly owned 1,400,000 shares in the company, valued at approximately $225,876,000. The trade was a 7.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Bennett Rosenthal sold 85,000 shares of the company's stock in a transaction that occurred 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. Over the last ninety days, insiders sold 873,145 shares of company stock valued at $146,204,353. 36.86% of the stock is currently owned by company insiders.

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.