Morgan Stanley Sells 326,526 Shares of Ares Management Corp (NYSE:ARES)

Morgan Stanley decreased its position in shares of Ares Management Corp (NYSE:ARES) by 34.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 627,241 shares of the asset manager’s stock after selling 326,526 shares during the period. Morgan Stanley’s holdings in Ares Management were worth $19,401,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of ARES. Marshall Wace LLP purchased a new position in shares of Ares Management during the first quarter valued at about $145,000. Victory Capital Management Inc. boosted its position in shares of Ares Management by 33.3% during the fourth quarter. Victory Capital Management Inc. now owns 28,063 shares of the asset manager’s stock valued at $1,002,000 after buying an additional 7,015 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Ares Management by 4.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 492,097 shares of the asset manager’s stock valued at $17,563,000 after buying an additional 22,345 shares during the period. Bank of Montreal Can boosted its position in shares of Ares Management by 57.0% during the fourth quarter. Bank of Montreal Can now owns 9,227 shares of the asset manager’s stock valued at $329,000 after buying an additional 3,350 shares during the period. Finally, Envestnet Asset Management Inc. boosted its position in shares of Ares Management by 189.9% during the fourth quarter. Envestnet Asset Management Inc. now owns 132,408 shares of the asset manager’s stock valued at $4,726,000 after buying an additional 86,741 shares during the period. Hedge funds and other institutional investors own 71.04% of the company’s stock.

Several brokerages have issued reports on ARES. TheStreet lowered Ares Management from a “b-” rating to a “c” rating in a research report on Monday, June 8th. Bank of America boosted their target price on Ares Management from $36.00 to $40.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. Barclays lifted their price target on shares of Ares Management from $36.00 to $40.00 and gave the company an “overweight” rating in a research note on Thursday, May 7th. BMO Capital Markets raised shares of Ares Management from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $40.00 to $47.00 in a research note on Thursday, May 28th. Finally, Wells Fargo & Co lifted their price target on shares of Ares Management from $41.00 to $45.00 and gave the company an “overweight” rating in a research note on Wednesday, May 13th. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $41.82.

Shares of NYSE:ARES opened at $39.70 on Wednesday. The company has a market capitalization of $9.35 billion, a price-to-earnings ratio of 104.48, a price-to-earnings-growth ratio of 4.34 and a beta of 1.28. Ares Management Corp has a 52 week low of $20.20 and a 52 week high of $41.88. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.75. The firm has a 50 day moving average of $37.25 and a 200 day moving average of $35.11.

Ares Management (NYSE:ARES) last issued its quarterly earnings data on Wednesday, May 6th. The asset manager reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.03. The company had revenue of $411.80 million during the quarter, compared to the consensus estimate of $369.82 million. Ares Management had a net margin of 5.60% and a return on equity of 15.52%. During the same quarter in the previous year, the firm posted $0.35 earnings per share. On average, sell-side analysts expect that Ares Management Corp will post 1.66 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.03%. The ex-dividend date was Monday, June 15th. Ares Management’s payout ratio is presently 95.81%.

In other news, insider Bennett Rosenthal sold 268,697 shares of the company’s stock in a transaction on Thursday, April 9th. The stock was sold at an average price of $34.81, for a total transaction of $9,353,342.57. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider R. Kipp Deveer sold 8,274 shares of the company’s stock in a transaction on Monday, May 4th. The stock was sold at an average price of $31.81, for a total value of $263,195.94. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 3,878,547 shares of company stock worth $145,256,559. Insiders own 59.69% of the company’s stock.

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.

Further Reading: FinTech

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

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