Overbrook Management Corp Sells 18,711 Shares of Ares Management Corporation $ARES

Overbrook Management Corp lowered its stake in shares of Ares Management Corporation (NYSE:ARES) by 14.7% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 108,562 shares of the asset manager’s stock after selling 18,711 shares during the period. Ares Management accounts for 3.1% of Overbrook Management Corp’s holdings, making the stock its 11th biggest position. Overbrook Management Corp’s holdings in Ares Management were worth $17,358,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in ARES. Norges Bank bought a new stake in Ares Management during the second quarter worth $328,910,000. Vanguard Group Inc. raised its holdings in shares of Ares Management by 9.1% in the 2nd quarter. Vanguard Group Inc. now owns 20,936,367 shares of the asset manager’s stock valued at $3,626,179,000 after purchasing an additional 1,746,376 shares during the period. Winslow Capital Management LLC acquired a new stake in Ares Management in the 2nd quarter valued at about $161,774,000. Geode Capital Management LLC lifted its stake in Ares Management by 7.6% in the 2nd quarter. Geode Capital Management LLC now owns 3,454,083 shares of the asset manager’s stock valued at $596,280,000 after purchasing an additional 244,286 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Ares Management by 24.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,208,292 shares of the asset manager’s stock worth $177,148,000 after purchasing an additional 240,564 shares during the period. 50.03% of the stock is owned by institutional investors.

Ares Management Price Performance

NYSE:ARES opened at $172.82 on Tuesday. Ares Management Corporation has a 52 week low of $110.63 and a 52 week high of $200.49. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.22 and a current ratio of 0.22. The firm’s 50-day simple moving average is $153.45 and its 200 day simple moving average is $168.29. The firm has a market cap of $56.49 billion, a price-to-earnings ratio of 74.17, a P/E/G ratio of 1.35 and a beta of 1.53.

Ares Management (NYSE:ARES) last posted its quarterly earnings data on Friday, October 31st. The asset manager reported $1.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.14 by $0.05. Ares Management had a net margin of 11.72% and a return on equity of 16.33%. The firm had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter in the previous year, the firm posted $0.55 EPS. As a group, sell-side analysts predict that Ares Management Corporation will post 5.28 earnings per share for the current year.

Ares Management Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 17th will be given a dividend of $0.8438 per share. This represents a $3.38 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date is Wednesday, December 17th. Ares Management’s dividend payout ratio is presently 192.27%.

Insider Activity

In related news, CEO Michael J. Arougheti sold 56,257 shares of the firm’s stock in a transaction on Monday, December 1st. The stock was sold at an average price of $157.26, for a total value of $8,846,975.82. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Over the last quarter, insiders sold 590,000 shares of company stock worth $90,653,808. Corporate insiders own 0.52% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $215.00 price objective on shares of Ares Management in a research report on Monday, September 29th. Cowen restated a “buy” rating on shares of Ares Management in a research note on Tuesday, November 4th. BMO Capital Markets began coverage on Ares Management in a report on Friday, October 3rd. They set a “market perform” rating and a $156.00 price target for the company. UBS Group began coverage on shares of Ares Management in a report on Thursday, December 11th. They issued a “neutral” rating and a $201.00 price objective on the stock. Finally, Barclays raised their target price on shares of Ares Management from $187.00 to $218.00 and gave the stock an “overweight” rating in a research note on Friday. 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 MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $190.64.

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.