Asset Management One Co. Ltd. Acquires 2,022 Shares of Ares Management Corporation (NYSE:ARES)

Asset Management One Co. Ltd. boosted its holdings in Ares Management Corporation (NYSE:ARES) by 2.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 74,087 shares of the asset manager’s stock after acquiring an additional 2,022 shares during the quarter. Asset Management One Co. Ltd.’s holdings in Ares Management were worth $10,862,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in ARES. Oppenheimer Asset Management Inc. lifted its holdings in shares of Ares Management by 17.5% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 5,798 shares of the asset manager’s stock valued at $850,000 after buying an additional 865 shares during the period. Oppenheimer & Co. Inc. lifted its holdings in shares of Ares Management by 5.4% during the 1st quarter. Oppenheimer & Co. Inc. now owns 39,270 shares of the asset manager’s stock valued at $5,757,000 after buying an additional 1,995 shares during the period. Moser Wealth Advisors LLC lifted its holdings in shares of Ares Management by 956.0% during the 1st quarter. Moser Wealth Advisors LLC now owns 1,320 shares of the asset manager’s stock valued at $194,000 after buying an additional 1,195 shares during the period. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of Ares Management by 40.7% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 7,960 shares of the asset manager’s stock valued at $1,167,000 after buying an additional 2,302 shares during the period. Finally, Kentucky Retirement Systems Insurance Trust Fund bought a new position in shares of Ares Management during the 1st quarter valued at $789,000. 50.03% of the stock is owned by institutional investors.

Ares Management Trading Up 1.5%

Shares of Ares Management stock opened at $171.31 on Friday. The firm has a market cap of $55.95 billion, a price-to-earnings ratio of 100.77, a PEG ratio of 1.33 and a beta of 1.38. Ares Management Corporation has a twelve month low of $110.63 and a twelve month high of $200.49. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.61. The business has a 50-day moving average price of $163.04 and a 200-day moving average price of $166.63.

Ares Management (NYSE:ARES) last released its quarterly earnings results on Monday, May 5th. The asset manager reported $1.09 EPS for the quarter, topping the consensus estimate of $0.94 by $0.15. The company had revenue of $951.96 million during the quarter, compared to analyst estimates of $914.00 million. Ares Management had a return on equity of 16.29% and a net margin of 9.73%. During the same quarter last year, the business posted $0.80 earnings per share. Equities research analysts anticipate that Ares Management Corporation will post 5.28 EPS for the current fiscal year.

Ares Management Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be given a $1.12 dividend. The ex-dividend date is Monday, June 16th. This represents a $4.48 annualized dividend and a yield of 2.62%. Ares Management’s dividend payout ratio is currently 263.53%.

Insider Buying and Selling

In other Ares Management news, Chairman Bennett Rosenthal sold 85,000 shares of the firm’s stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $168.79, for a total value of $14,347,150.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Michael J. Arougheti sold 107,500 shares of the firm’s stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $161.34, for a total transaction of $17,344,050.00. Following the completion of the sale, the chief executive officer now directly owns 1,400,000 shares of the company’s stock, valued at approximately $225,876,000. The trade was a 7.13% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 873,145 shares of company stock worth $146,204,353. Corporate insiders own 36.86% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on ARES. TD Cowen lowered their price target on Ares Management from $216.00 to $161.00 and set a “buy” rating on the stock in a report on Wednesday, April 9th. Barclays raised their target price on Ares Management from $142.00 to $182.00 and gave the stock an “overweight” rating in a report on Tuesday, May 6th. Bank of America decreased their target price on Ares Management from $221.00 to $201.00 and set a “buy” rating on the stock in a report on Friday, April 4th. Morgan Stanley decreased their target price on Ares Management from $197.00 to $152.00 and set an “equal weight” rating on the stock in a report on Monday, April 14th. Finally, Wells Fargo & Company raised their target price on Ares Management from $182.00 to $189.00 and gave the stock an “overweight” rating in a report on Friday, May 23rd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $174.94.

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.