Zurcher Kantonalbank Zurich Cantonalbank Acquires 5,039 Shares of Ares Management Corporation (NYSE:ARES)

Key Points

• Zurcher Kantonalbank increased its stake in Ares Management Corporation by 14.1% during the 1st quarter, owning a total of 40,683 shares valued at approximately $5.96 million.
• Several hedge funds have also shown interest in Ares Management, with notable investments including a 125.6% increase in stake from Global Financial Private Client LLC.
• Ares Management recently announced a significant quarterly dividend of $1.12, representing an annualized dividend yield of 2.38%, despite a high dividend payout ratio of 263.53%.

Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Ares Management Corporation (NYSE:ARES - Free Report) by 14.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 40,683 shares of the asset manager's stock after purchasing an additional 5,039 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Ares Management were worth $5,965,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in ARES. Teacher Retirement System of Texas bought a new stake in Ares Management during the fourth quarter worth about $312,000. Pictet Asset Management Holding SA lifted its stake in Ares Management by 8.2% during the fourth quarter. Pictet Asset Management Holding SA now owns 80,596 shares of the asset manager's stock worth $14,268,000 after purchasing an additional 6,084 shares during the last quarter. O Shaughnessy Asset Management LLC lifted its stake in Ares Management by 15.6% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 12,330 shares of the asset manager's stock worth $2,183,000 after purchasing an additional 1,661 shares during the last quarter. HighPoint Advisor Group LLC bought a new stake in Ares Management during the fourth quarter worth about $264,000. Finally, Nemes Rush Group LLC lifted its stake in Ares Management by 282.2% during the fourth quarter. Nemes Rush Group LLC now owns 1,139 shares of the asset manager's stock worth $202,000 after purchasing an additional 841 shares during the last quarter. Institutional investors own 50.03% of the company's stock.

Ares Management Stock Down 1.3%

Shares of ARES stock traded down $2.43 during midday trading on Friday, reaching $183.10. 2,193,787 shares of the stock were exchanged, compared to its average volume of 1,251,419. Ares Management Corporation has a 1 year low of $110.63 and a 1 year high of $200.49. The company's 50 day moving average is $174.04 and its two-hundred day moving average is $166.82. 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 firm has a market cap of $59.80 billion, a PE ratio of 107.71, a price-to-earnings-growth ratio of 1.52 and a beta of 1.40.

Ares Management (NYSE:ARES - Get Free Report) last posted its 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). Ares Management had a return on equity of 16.29% and a net margin of 9.73%. The firm had revenue of $1.35 billion for the quarter, compared to analysts' expectations of $1.02 billion. During the same quarter last year, the company posted $0.99 EPS. On average, equities research analysts predict that Ares Management Corporation will post 5.28 EPS for the current year.

Ares Management Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th will be issued a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a dividend yield of 2.4%. Ares Management's dividend payout ratio (DPR) is 263.53%.

Insiders Place Their Bets

In other news, insider David B. Kaplan sold 62,500 shares of the business's stock in a transaction that occurred 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 sale, the insider directly owned 62,500 shares of the company's stock, valued at $10,585,000. The trade was a 50.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Michael J. Arougheti sold 182,108 shares of the business's stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $170.07, for a total value of $30,971,107.56. Following the completion of the sale, the chief executive officer directly owned 350,684 shares in the company, valued at approximately $59,640,827.88. This represents a 34.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 873,145 shares of company stock worth $146,204,353. Company insiders own 36.86% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. The Goldman Sachs Group lowered their target price 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. Barclays boosted their target price on Ares Management from $182.00 to $200.00 and gave the company an "overweight" rating in a research note on Thursday, July 10th. TD Cowen lowered their target price on Ares Management from $216.00 to $161.00 and set a "buy" rating for the company in a research note on Wednesday, April 9th. Citizens Jmp raised Ares Management from a "market perform" rating to an "outperform" rating and set a $165.00 target price for the company in a research note on Tuesday, April 8th. Finally, Oppenheimer lowered Ares Management from an "outperform" rating to a "market perform" rating in a research note on Thursday, May 15th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $177.50.

Ares Management Company 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.