Ares Management Corporation (NYSE:ARES) Shares Bought by Moser Wealth Advisors LLC

Moser Wealth Advisors LLC grew its position in Ares Management Corporation (NYSE:ARES) by 956.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,320 shares of the asset manager’s stock after buying an additional 1,195 shares during the quarter. Moser Wealth Advisors LLC’s holdings in Ares Management were worth $194,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of ARES. Allworth Financial LP grew its stake in shares of Ares Management by 24.7% in the fourth quarter. Allworth Financial LP now owns 925 shares of the asset manager’s stock valued at $179,000 after buying an additional 183 shares in the last quarter. Sanctuary Advisors LLC grew its stake in shares of Ares Management by 9.3% in the fourth quarter. Sanctuary Advisors LLC now owns 11,606 shares of the asset manager’s stock valued at $2,055,000 after buying an additional 986 shares in the last quarter. CIBC Asset Management Inc grew its stake in shares of Ares Management by 13.4% in the fourth quarter. CIBC Asset Management Inc now owns 7,677 shares of the asset manager’s stock valued at $1,359,000 after buying an additional 910 shares in the last quarter. Atria Wealth Solutions Inc. grew its stake in shares of Ares Management by 67.4% in the fourth quarter. Atria Wealth Solutions Inc. now owns 4,225 shares of the asset manager’s stock valued at $748,000 after buying an additional 1,701 shares in the last quarter. Finally, Global Retirement Partners LLC grew its stake in shares of Ares Management by 48.0% in the fourth quarter. Global Retirement Partners LLC now owns 435 shares of the asset manager’s stock valued at $77,000 after buying an additional 141 shares in the last quarter. 50.03% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Ares Management

In other Ares Management news, CEO Michael J. Arougheti sold 57,208 shares of the stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $169.55, for a total transaction of $9,699,616.40. Following the completion of the sale, the chief executive officer now directly owns 532,792 shares of the company’s stock, valued at approximately $90,334,883.60. This trade represents a 9.70% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Bennett Rosenthal sold 40,000 shares of the stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $169.37, for a total value of $6,774,800.00. Following the sale, the chairman now directly owns 85,000 shares of the company’s stock, valued at $14,396,450. The trade was a 32.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 873,145 shares of company stock valued at $146,204,353 in the last three months. 0.52% of the stock is currently owned by company insiders.

Ares Management Trading Down 0.8%

ARES opened at $165.93 on Monday. Ares Management Corporation has a one year low of $110.63 and a one year high of $200.49. The company has a market cap of $54.19 billion, a P/E ratio of 97.60, a PEG ratio of 1.30 and a beta of 1.38. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.07 and a current ratio of 1.07. The business’s 50-day simple moving average is $160.75 and its 200-day simple moving average is $166.71.

Ares Management (NYSE:ARES) last announced its earnings results on Monday, May 5th. The asset manager reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.94 by $0.15. The firm had revenue of $951.96 million during the quarter, compared to analysts’ expectations of $914.00 million. Ares Management had a return on equity of 16.29% and a net margin of 9.73%. During the same period in the prior year, the firm earned $0.80 EPS. As a group, equities research analysts expect that Ares Management Corporation will post 5.28 EPS for the current fiscal year.

Ares Management Announces Dividend

The company also recently announced 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 of this dividend is Monday, June 16th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 2.70%. Ares Management’s dividend payout ratio (DPR) is presently 263.53%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on ARES. JMP Securities lifted their price objective on Ares Management from $165.00 to $185.00 and gave the company a “market outperform” rating in a research note on Thursday, May 8th. TD Cowen lowered their target price on Ares Management from $216.00 to $161.00 and set a “buy” rating for the company in a research note on Wednesday, April 9th. Bank of America lowered their target price on Ares Management from $221.00 to $201.00 and set a “buy” rating for the company in a research note on Friday, April 4th. Wolfe Research set a $193.00 target price on Ares Management and gave the stock an “outperform” rating in a research note on Tuesday, May 6th. Finally, The Goldman Sachs Group lowered their target price on Ares Management from $188.00 to $166.00 and set a “buy” rating for the company in a research note on Thursday, April 3rd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Ares Management presently has a consensus rating of “Moderate Buy” and a consensus target price of $174.94.

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.