Osprey Private Wealth LLC Acquires 550 Shares of Ares Management Corporation $ARES

Osprey Private Wealth LLC lifted its holdings in Ares Management Corporation (NYSE:ARES) by 1.6% in the 2nd quarter, Holdings Channel.com reports. The firm owned 34,765 shares of the asset manager’s stock after buying an additional 550 shares during the quarter. Ares Management makes up about 3.4% of Osprey Private Wealth LLC’s holdings, making the stock its 11th largest holding. Osprey Private Wealth LLC’s holdings in Ares Management were worth $6,187,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of ARES. Vanguard Group Inc. lifted its stake in Ares Management by 2.0% in the first quarter. Vanguard Group Inc. now owns 19,189,991 shares of the asset manager’s stock valued at $2,813,445,000 after buying an additional 382,273 shares in the last quarter. JPMorgan Chase & Co. lifted its position in Ares Management by 0.4% in the 1st quarter. JPMorgan Chase & Co. now owns 8,308,330 shares of the asset manager’s stock valued at $1,218,084,000 after acquiring an additional 30,451 shares in the last quarter. Principal Financial Group Inc. lifted its position in Ares Management by 4.8% in the 1st quarter. Principal Financial Group Inc. now owns 3,354,032 shares of the asset manager’s stock valued at $491,735,000 after acquiring an additional 152,169 shares in the last quarter. Raymond James Financial Inc. boosted its stake in Ares Management by 0.3% in the 1st quarter. Raymond James Financial Inc. now owns 1,902,603 shares of the asset manager’s stock worth $278,941,000 after purchasing an additional 5,424 shares during the period. Finally, Canada Pension Plan Investment Board increased its holdings in Ares Management by 5.5% during the 1st quarter. Canada Pension Plan Investment Board now owns 1,727,563 shares of the asset manager’s stock worth $253,278,000 after purchasing an additional 90,101 shares in the last quarter. 50.03% of the stock is currently owned by institutional investors and hedge funds.

Ares Management Stock Down 1.0%

ARES stock opened at $182.95 on Friday. The company has a market cap of $59.77 billion, a price-to-earnings ratio of 105.75, a P/E/G ratio of 1.45 and a beta of 1.44. Ares Management Corporation has a twelve month low of $110.63 and a twelve month high of $200.49. The business has a 50 day moving average price of $182.19 and a two-hundred day moving average price of $165.63. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.64.

Ares Management (NYSE:ARES) last announced its quarterly earnings data on Friday, August 1st. The asset manager reported $1.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.15 by ($0.12). Ares Management had a return on equity of 15.81% and a net margin of 9.47%.The company had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.02 billion. During the same quarter in the prior year, the company earned $0.99 EPS. Analysts anticipate that Ares Management Corporation will post 5.28 EPS for the current fiscal year.

Ares Management Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th will be paid a $1.12 dividend. The ex-dividend date is Tuesday, September 16th. This represents a $4.48 dividend on an annualized basis and a yield of 2.4%. Ares Management’s dividend payout ratio (DPR) is currently 258.96%.

Insider Transactions at Ares Management

In related news, CEO Michael J. Arougheti sold 136,516 shares of the firm’s stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $182.74, for a total value of $24,946,933.84. Following the completion of the sale, the chief executive officer directly owned 311,728 shares in the company, valued at approximately $56,965,174.72. This trade represents a 30.46% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Chairman Antony P. Ressler sold 196,197 shares of Ares Management stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $178.79, for a total value of $35,078,061.63. Following the transaction, the chairman owned 1,424,538 shares of the company’s stock, valued at $254,693,149.02. The trade was a 12.11% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 2,590,000 shares of company stock valued at $464,430,639. Insiders own 36.86% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on ARES. Raymond James Financial started coverage on Ares Management in a report on Monday, July 28th. They issued a “market perform” rating on the stock. Royal Bank Of Canada lifted their target price on Ares Management from $195.00 to $215.00 and gave the company an “outperform” rating in a research report on Monday, August 18th. Cfra Research raised Ares Management to a “moderate buy” rating in a research report on Monday, August 4th. JMP Securities raised their price target on shares of Ares Management from $195.00 to $205.00 and gave the stock a “market outperform” rating in a research note on Wednesday, August 6th. Finally, Barclays boosted their price objective 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. Thirteen equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $182.73.

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.