DekaBank Deutsche Girozentrale Sells 595 Shares of Ares Management Corporation (NYSE:ARES)

DekaBank Deutsche Girozentrale trimmed its position in Ares Management Corporation (NYSE:ARES) by 1.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 44,145 shares of the asset manager’s stock after selling 595 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Ares Management were worth $6,332,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in ARES. Proficio Capital Partners LLC bought a new position in Ares Management in the fourth quarter valued at approximately $31,483,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Ares Management by 1.8% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 35,644 shares of the asset manager’s stock worth $6,310,000 after buying an additional 630 shares during the last quarter. Daiwa Securities Group Inc. grew its stake in shares of Ares Management by 2.9% during the fourth quarter. Daiwa Securities Group Inc. now owns 15,358 shares of the asset manager’s stock worth $2,719,000 after buying an additional 430 shares during the last quarter. Sequoia Financial Advisors LLC grew its stake in shares of Ares Management by 16.6% during the fourth quarter. Sequoia Financial Advisors LLC now owns 2,985 shares of the asset manager’s stock worth $529,000 after buying an additional 425 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its stake in shares of Ares Management by 3.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 2,168 shares of the asset manager’s stock worth $384,000 after buying an additional 70 shares during the last quarter. 50.03% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have weighed in on ARES shares. Bank of America decreased their target price on shares of Ares Management from $221.00 to $201.00 and set a “buy” rating on the stock in a research note on Friday, April 4th. Wells Fargo & Company boosted their target price on shares of Ares Management from $189.00 to $202.00 and gave the stock an “overweight” rating in a research note on Friday. Barclays boosted their target price on shares of Ares Management from $182.00 to $200.00 and gave the stock an “overweight” rating in a research note on Thursday. The Goldman Sachs Group decreased their target price on shares of Ares Management from $188.00 to $166.00 and set a “buy” rating on the stock in a research note on Thursday, April 3rd. Finally, Citizens Jmp upgraded shares of Ares Management from a “market perform” rating to an “outperform” rating and set a $165.00 price target on the stock in a report on Tuesday, April 8th. One research 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’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $176.88.

Ares Management Stock Performance

Shares of ARES opened at $177.40 on Friday. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.61. The stock has a market capitalization of $57.94 billion, a P/E ratio of 104.35, a price-to-earnings-growth ratio of 1.47 and a beta of 1.37. The firm’s fifty day simple moving average is $168.99 and its two-hundred day simple moving average is $166.48. Ares Management Corporation has a 12 month low of $110.63 and a 12 month high of $200.49.

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

Ares Management Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 16th were given a dividend of $1.12 per share. The ex-dividend date was Monday, June 16th. This represents a $4.48 dividend on an annualized basis and a yield of 2.53%. Ares Management’s dividend payout ratio (DPR) is currently 263.53%.

Insider Buying and Selling at Ares Management

In other Ares Management news, insider David B. Kaplan sold 33,145 shares of the company’s stock in a transaction on Friday, May 30th. The shares were sold at an average price of $165.12, for a total transaction of $5,472,902.40. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Michael J. Arougheti sold 107,500 shares of the company’s stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $161.34, for a total transaction of $17,344,050.00. Following the sale, the chief executive officer directly owned 1,400,000 shares in the company, valued at $225,876,000. This trade represents a 7.13% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 873,145 shares of company stock valued at $146,204,353. 36.86% of the stock is currently owned by insiders.

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.