Chilton Capital Management LLC Decreases Position in Ares Management Corporation $ARES

Chilton Capital Management LLC lowered its position in Ares Management Corporation (NYSE:ARES) by 23.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 163,575 shares of the asset manager’s stock after selling 51,084 shares during the quarter. Chilton Capital Management LLC’s holdings in Ares Management were worth $28,331,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in ARES. Redmont Wealth Advisors LLC purchased a new position in Ares Management during the 1st quarter valued at about $28,000. Financial Network Wealth Advisors LLC acquired a new position in shares of Ares Management during the 1st quarter worth approximately $31,000. Ameritas Advisory Services LLC purchased a new stake in Ares Management in the 2nd quarter valued at approximately $43,000. Banque Transatlantique SA purchased a new stake in Ares Management in the 1st quarter valued at approximately $39,000. Finally, SouthState Corp purchased a new stake in shares of Ares Management in the first quarter valued at $48,000. 50.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Ares Management

In other news, Chairman Antony P. Ressler sold 196,197 shares of the company’s 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 completion of the sale, the chairman owned 1,424,538 shares of the company’s stock, valued at $254,693,149.02. This represents a 12.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 sale, the chief executive officer owned 311,728 shares in the company, valued at approximately $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. In the last 90 days, insiders have sold 2,590,000 shares of company stock worth $464,430,639. 36.86% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on ARES. Bank of America boosted their target price on shares of Ares Management from $196.00 to $197.00 and gave the company a “buy” rating in a research note on Friday, October 3rd. Raymond James Financial began coverage on shares of Ares Management in a research note on Monday, July 28th. They set a “market perform” rating on the stock. JMP Securities boosted their price target on Ares Management from $195.00 to $205.00 and gave the company a “market outperform” rating in a report on Wednesday, August 6th. Royal Bank Of Canada restated an “outperform” rating and set a $215.00 price objective on shares of Ares Management in a report on Monday, September 29th. Finally, BMO Capital Markets initiated coverage on Ares Management in a research note on Friday, October 3rd. They issued a “market perform” rating and a $156.00 target price for the company. Thirteen investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Ares Management has an average rating of “Moderate Buy” and an average price target of $181.93.

Ares Management Trading Up 0.7%

Shares of ARES opened at $149.42 on Friday. 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 $48.82 billion, a P/E ratio of 86.37, a price-to-earnings-growth ratio of 1.18 and a beta of 1.43. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.64. The stock’s fifty day simple moving average is $166.89 and its 200 day simple moving average is $167.96.

Ares Management (NYSE:ARES) last announced 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 firm had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.02 billion. Ares Management had a return on equity of 15.81% and a net margin of 9.47%.During the same quarter in the prior year, the company earned $0.99 earnings per share. On average, equities research analysts forecast that Ares Management Corporation will post 5.28 earnings per share for the current year.

Ares Management Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th were given a $1.12 dividend. The ex-dividend date of this dividend was Tuesday, September 16th. This represents a $4.48 annualized dividend and a yield of 3.0%. Ares Management’s dividend payout ratio (DPR) is 258.96%.

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.