OFI Invest Asset Management Buys 301 Shares of Ares Management Corporation $ARES

OFI Invest Asset Management increased its stake in shares of Ares Management Corporation (NYSE:ARES) by 74.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 703 shares of the asset manager’s stock after acquiring an additional 301 shares during the quarter. OFI Invest Asset Management’s holdings in Ares Management were worth $122,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of ARES. Vanguard Group Inc. grew its position in shares of Ares Management by 2.0% in the 1st quarter. Vanguard Group Inc. now owns 19,189,991 shares of the asset manager’s stock worth $2,813,445,000 after buying an additional 382,273 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of Ares Management by 0.4% in the 1st quarter. JPMorgan Chase & Co. now owns 8,308,330 shares of the asset manager’s stock worth $1,218,084,000 after buying an additional 30,451 shares during the last quarter. Principal Financial Group Inc. grew its position in shares of 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 worth $491,735,000 after buying an additional 152,169 shares during the last quarter. Raymond James Financial Inc. grew its position in shares of 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 buying an additional 5,424 shares during the last quarter. Finally, Canada Pension Plan Investment Board grew its position in shares of Ares Management by 5.5% in 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 buying an additional 90,101 shares during the last quarter. 50.03% of the stock is currently owned by institutional investors.

Ares Management Trading Down 4.4%

NYSE ARES opened at $140.84 on Monday. 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 Corporation has a twelve month low of $110.63 and a twelve month high of $200.49. The firm has a market capitalization of $46.01 billion, a PE ratio of 81.41, a P/E/G ratio of 1.10 and a beta of 1.43. The stock’s 50 day moving average is $175.26 and its 200 day moving average is $167.33.

Ares Management (NYSE:ARES) last released its earnings results on Friday, August 1st. The asset manager reported $1.03 EPS for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $1.02 billion. During the same period last year, the firm posted $0.99 earnings per share. Research analysts forecast that Ares Management Corporation will post 5.28 earnings per share for the current fiscal year.

Ares Management Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th were issued a $1.12 dividend. This represents a $4.48 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend was Tuesday, September 16th. Ares Management’s payout ratio is 258.96%.

Insider Buying and Selling

In other Ares Management news, Chairman Antony P. Ressler sold 128,837 shares of the business’s stock in a transaction on Wednesday, September 10th. The stock was sold at an average price of $178.30, for a total value of $22,971,637.10. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders sold 2,590,000 shares of company stock valued at $464,430,639 over the last 90 days. Insiders own 0.52% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on ARES. Raymond James Financial began coverage on Ares Management in a research report on Monday, July 28th. They issued a “market perform” rating on the stock. Bank of America lifted their price objective on Ares Management from $196.00 to $197.00 and gave the stock a “buy” rating in a research report on Friday, October 3rd. Barclays cut their price objective on Ares Management from $200.00 to $187.00 and set an “overweight” rating on the stock in a research report on Wednesday. Weiss Ratings restated a “hold (c+)” rating on shares of Ares Management in a research report on Saturday, September 27th. Finally, JMP Securities lifted their price target on Ares Management from $195.00 to $205.00 and gave the company a “market outperform” rating in a research report on Wednesday, August 6th. Thirteen analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $180.00.

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.