Vaughan Nelson Investment Management L.P. Has $16.34 Million Stake in Ares Management Corporation $ARES

Key Points

• Vaughan Nelson Investment Management L.P. significantly increased its stake in Ares Management Corporation by 192.9%, owning 94,342 shares valued at $16.34 million as of the latest reporting period.
• Ares Management's quarterly earnings for August 1st reported $1.03 EPS, missing expectations, while the revenue of $1.35 billion exceeded predictions.
• Insider selling activity includes Chairman Antony P. Ressler selling 196,197 shares, resulting in a 12.11% decrease in ownership, alongside CEO Michael J. Arougheti selling 136,516 shares with a 30.46% ownership decrease.

Vaughan Nelson Investment Management L.P. increased its position in Ares Management Corporation (NYSE:ARES - Free Report) by 192.9% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 94,342 shares of the asset manager's stock after purchasing an additional 62,134 shares during the period. Vaughan Nelson Investment Management L.P.'s holdings in Ares Management were worth $16,340,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Ameritas Advisory Services LLC acquired a new position in Ares Management in the 2nd quarter worth approximately $43,000. ASR Vermogensbeheer N.V. boosted its stake in Ares Management by 87.8% in the 2nd quarter. ASR Vermogensbeheer N.V. now owns 7,411 shares of the asset manager's stock worth $1,283,000 after purchasing an additional 3,464 shares during the period. Vicus Capital acquired a new position in Ares Management in the 2nd quarter worth approximately $273,000. PFG Investments LLC acquired a new position in Ares Management in the 2nd quarter worth approximately $256,000. Finally, LBP AM SA acquired a new position in Ares Management in the 2nd quarter worth approximately $4,230,000. Institutional investors and hedge funds own 50.03% of the company's stock.

Insiders Place Their Bets

In related news, Chairman Antony P. Ressler sold 196,197 shares of the firm's stock in a transaction on 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 transaction, the chairman directly owned 1,424,538 shares in the company, valued at approximately $254,693,149.02. This trade represents a 12.11% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Michael J. Arougheti sold 136,516 shares of the firm's stock in a transaction on Tuesday, August 19th. The shares were 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 owned 311,728 shares in the company, valued at $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. Insiders have sold a total of 2,590,000 shares of company stock worth $464,430,639 in the last 90 days. 36.86% of the stock is owned by insiders.

Ares Management Stock Up 1.1%

Ares Management stock opened at $152.31 on Friday. The company has a market capitalization of $49.76 billion, a P/E ratio of 88.04, a P/E/G ratio of 1.20 and a beta of 1.43. The firm's fifty day simple moving average is $179.18 and its 200-day simple moving average is $167.36. 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 1-year low of $110.63 and a 1-year high of $200.49.

Ares Management (NYSE:ARES - Get Free Report) last released its quarterly earnings results on Friday, August 1st. The asset manager reported $1.03 earnings per share 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 in the prior year, the business posted $0.99 EPS. Sell-side analysts forecast that Ares Management Corporation will post 5.28 earnings per share for the current fiscal year.

Ares Management Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th were issued a dividend of $1.12 per share. The ex-dividend date was Tuesday, September 16th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 2.9%. Ares Management's dividend payout ratio (DPR) is currently 258.96%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on ARES shares. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Ares Management in a research note on Saturday, September 27th. Royal Bank Of Canada reiterated an "outperform" rating and issued a $215.00 target price on shares of Ares Management in a research report on Monday, September 29th. Raymond James Financial assumed coverage on shares of Ares Management in a research report on Monday, July 28th. They issued a "market perform" rating for the company. Barclays increased their target price on shares of Ares Management from $182.00 to $200.00 and gave the stock an "overweight" rating in a research report on Thursday, July 10th. Finally, JMP Securities increased their target price on shares of Ares Management from $195.00 to $205.00 and gave the stock a "market outperform" rating in a research report on Wednesday, August 6th. Thirteen research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, Ares Management has an average rating of "Moderate Buy" and an average target price of $180.81.

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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