Mutual Advisors LLC Lowers Stock Holdings in Ares Management Corporation $ARES

Mutual Advisors LLC trimmed its position in Ares Management Corporation (NYSE:ARESFree Report) by 5.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,862 shares of the asset manager’s stock after selling 303 shares during the quarter. Mutual Advisors LLC’s holdings in Ares Management were worth $905,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Redmont Wealth Advisors LLC purchased a new stake in shares of Ares Management in the first quarter worth about $28,000. Financial Network Wealth Advisors LLC purchased a new stake in shares of Ares Management in the first quarter worth about $31,000. Ameritas Advisory Services LLC purchased a new stake in shares of Ares Management in the second quarter worth about $43,000. Banque Transatlantique SA purchased a new stake in shares of Ares Management in the first quarter worth about $39,000. Finally, SouthState Corp purchased a new stake in Ares Management in the first quarter valued at approximately $48,000. 50.03% of the stock is owned by hedge funds and other institutional investors.

Ares Management Trading Up 0.4%

ARES stock opened at $141.74 on Friday. The company has a market capitalization of $46.31 billion, a PE ratio of 81.93, a price-to-earnings-growth ratio of 1.12 and a beta of 1.43. Ares Management Corporation has a one year low of $110.63 and a one year high of $200.49. The company’s 50 day moving average price is $170.97 and its two-hundred day moving average price is $167.09. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.08 and a current ratio of 1.08.

Ares Management (NYSE:ARESGet Free Report) last posted its quarterly 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). The business had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.02 billion. Ares Management had a return on equity of 15.81% and a net margin of 9.47%.During the same period last year, the business posted $0.99 earnings per share. As a group, analysts predict that Ares Management Corporation will post 5.28 earnings per share for the current fiscal year.

Ares Management Announces Dividend

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

Insider Activity at Ares Management

In other news, Chairman Antony P. Ressler sold 196,197 shares of the firm’s stock in a transaction that occurred 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 owned 1,424,538 shares in the company, valued at approximately $254,693,149.02. This trade represents a 12.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Michael J. Arougheti sold 136,516 shares of the firm’s stock in a transaction that occurred on Tuesday, August 19th. The stock was 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. This represents a 30.46% decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,590,000 shares of company stock worth $464,430,639 in the last 90 days. Company insiders own 36.86% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Raymond James Financial assumed coverage on shares of Ares Management in a research note on Monday, July 28th. They issued a “market perform” rating on the stock. Wells Fargo & Company raised their target price on shares of Ares Management from $189.00 to $202.00 and gave the company an “overweight” rating in a research note on Friday, July 11th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Ares Management in a research note on Tuesday, October 14th. Keefe, Bruyette & Woods raised their target price on shares of Ares Management from $193.00 to $203.00 and gave the company an “outperform” rating in a research note on Monday, August 4th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $215.00 target price on shares of Ares Management in a research note on Monday, September 29th. Fourteen investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, Ares Management currently has an average rating of “Moderate Buy” and a consensus price target of $181.31.

Get Our Latest Analysis on ARES

Ares Management Profile

(Free Report)

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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Institutional Ownership by Quarter for Ares Management (NYSE:ARES)

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