Ares Management Corporation $ARES Shares Sold by Hsbc Holdings PLC

Hsbc Holdings PLC decreased its stake in Ares Management Corporation (NYSE:ARES) by 20.6% during the 2nd quarter, HoldingsChannel reports. The firm owned 102,742 shares of the asset manager’s stock after selling 26,713 shares during the period. Hsbc Holdings PLC’s holdings in Ares Management were worth $17,804,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. State Board of Administration of Florida Retirement System increased its position in Ares Management by 3.0% in the second quarter. State Board of Administration of Florida Retirement System now owns 173,924 shares of the asset manager’s stock worth $30,124,000 after buying an additional 5,083 shares during the period. Korea Investment CORP grew its position in shares of Ares Management by 240.6% during the second quarter. Korea Investment CORP now owns 178,539 shares of the asset manager’s stock worth $30,923,000 after acquiring an additional 126,124 shares during the last quarter. Elevation Point Wealth Partners LLC acquired a new stake in shares of Ares Management in the 2nd quarter worth about $35,000. GM Advisory Group LLC lifted its position in Ares Management by 0.6% in the 2nd quarter. GM Advisory Group LLC now owns 14,041 shares of the asset manager’s stock valued at $2,432,000 after purchasing an additional 90 shares during the last quarter. Finally, Quadrant Capital Group LLC boosted its stake in Ares Management by 517.8% during the 2nd quarter. Quadrant Capital Group LLC now owns 2,255 shares of the asset manager’s stock valued at $391,000 after purchasing an additional 1,890 shares during the period. 50.03% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

ARES has been the topic of several analyst reports. Royal Bank Of Canada restated an “outperform” rating and issued a $215.00 price target on shares of Ares Management in a research note on Monday, September 29th. BMO Capital Markets began coverage on Ares Management in a research report on Friday, October 3rd. They issued a “market perform” rating and a $156.00 target price on the stock. JMP Securities boosted their price target on Ares Management from $195.00 to $205.00 and gave the stock a “market outperform” rating in a research report on Wednesday, August 6th. Barclays decreased their price target on Ares Management from $200.00 to $187.00 and set an “overweight” rating for the company in a research note on Wednesday, October 8th. Finally, TD Cowen lifted their price objective on shares of Ares Management from $175.00 to $197.00 and gave the company a “buy” rating in a research note on Tuesday, November 4th. Thirteen analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $187.46.

Insider Buying and Selling at Ares Management

In other news, Chairman Antony P. Ressler sold 128,837 shares of Ares Management stock in a transaction that occurred on Wednesday, September 10th. The shares were 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 can be accessed through the SEC website. Also, CEO Michael J. Arougheti sold 56,257 shares of the company’s stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $157.26, for a total transaction of $8,846,975.82. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 1,329,018 shares of company stock valued at $221,610,842. 0.52% of the stock is currently owned by company insiders.

Ares Management Stock Performance

NYSE:ARES opened at $160.05 on Wednesday. The company has a 50-day moving average of $151.28 and a 200-day moving average of $167.83. The firm has a market cap of $52.32 billion, a price-to-earnings ratio of 68.69, a price-to-earnings-growth ratio of 1.24 and a beta of 1.53. The company has a current ratio of 0.22, a quick ratio of 0.22 and a debt-to-equity ratio of 0.62. Ares Management Corporation has a twelve month low of $110.63 and a twelve month high of $200.49.

Ares Management (NYSE:ARES) last issued its earnings results on Friday, October 31st. The asset manager reported $1.19 earnings per share for the quarter, topping analysts’ consensus estimates of $1.14 by $0.05. The firm had revenue of $1.66 billion during the quarter, compared to analysts’ expectations of $1.03 billion. Ares Management had a net margin of 11.72% and a return on equity of 16.33%. During the same period last year, the firm posted $0.55 earnings per share. Analysts forecast that Ares Management Corporation will post 5.28 earnings per share for the current fiscal 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. The ex-dividend date of this dividend is Wednesday, December 17th. This represents a $3.38 dividend on an annualized basis and a dividend yield of 2.1%. Ares Management’s payout ratio is 192.27%.

Ares Management 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.