RMR Wealth Builders Raises Holdings in Ares Management Corporation $ARES

RMR Wealth Builders boosted its holdings in shares of Ares Management Corporation (NYSE:ARES) by 10.1% during the second quarter, Holdings Channel.com reports. The firm owned 1,674 shares of the asset manager’s stock after acquiring an additional 154 shares during the period. RMR Wealth Builders’ holdings in Ares Management were worth $290,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the stock. Smartleaf Asset Management LLC lifted its position in shares of Ares Management by 9.1% during the first quarter. Smartleaf Asset Management LLC now owns 746 shares of the asset manager’s stock valued at $108,000 after buying an additional 62 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Ares Management by 5.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,344 shares of the asset manager’s stock worth $197,000 after purchasing an additional 70 shares during the last quarter. Canton Hathaway LLC raised its holdings in shares of Ares Management by 9.5% in the first quarter. Canton Hathaway LLC now owns 865 shares of the asset manager’s stock worth $127,000 after buying an additional 75 shares during the last quarter. Bessemer Group Inc. lifted its position in Ares Management by 1.8% during the 1st quarter. Bessemer Group Inc. now owns 4,360 shares of the asset manager’s stock worth $639,000 after acquiring an additional 78 shares during the period. Finally, Walled Lake Planning & Wealth Management LLC lifted its holdings in shares of Ares Management by 4.2% during the first quarter. Walled Lake Planning & Wealth Management LLC now owns 2,035 shares of the asset manager’s stock worth $298,000 after purchasing an additional 82 shares during the period. Institutional investors own 50.03% of the company’s stock.

Insider Transactions at Ares Management

In other Ares Management news, CEO Michael J. Arougheti sold 136,516 shares of Ares Management stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $182.74, for a total transaction of $24,946,933.84. Following the transaction, the chief executive officer owned 311,728 shares of the company’s stock, valued at $56,965,174.72. The trade was a 30.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Chairman Antony P. Ressler sold 196,197 shares of the firm’s stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $178.79, for a total value of $35,078,061.63. Following the transaction, the chairman directly owned 1,424,538 shares in the company, valued at approximately $254,693,149.02. This represents a 12.11% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,590,000 shares of company stock worth $464,430,639. Company insiders own 0.52% of the company’s stock.

Ares Management Stock Performance

NYSE ARES opened at $179.85 on Tuesday. The company has a market cap of $58.76 billion, a PE ratio of 103.96, a price-to-earnings-growth ratio of 1.43 and a beta of 1.44. The stock’s 50 day simple moving average is $182.29 and its 200-day simple moving average is $165.68. Ares Management Corporation has a 1-year low of $110.63 and a 1-year high of $200.49. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.08 and a quick ratio of 1.08.

Ares Management (NYSE:ARES) last released its quarterly earnings data on Friday, August 1st. The asset manager reported $1.03 EPS for the quarter, missing analysts’ consensus estimates of $1.15 by ($0.12). Ares Management had a net margin of 9.47% and a return on equity of 15.81%. The business had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.02 billion. During the same quarter in the previous year, the company posted $0.99 EPS. As a group, equities research analysts anticipate that Ares Management Corporation will post 5.28 EPS for the current fiscal year.

Ares Management Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th will be paid a dividend of $1.12 per share. The ex-dividend date is Tuesday, September 16th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 2.5%. Ares Management’s payout ratio is presently 258.96%.

Analyst Ratings Changes

Several research firms recently commented on ARES. Wells Fargo & Company raised their target price on Ares Management from $189.00 to $202.00 and gave the stock an “overweight” rating in a report on Friday, July 11th. Raymond James Financial assumed coverage on Ares Management in a report on Monday, July 28th. They issued a “market perform” rating for the company. Royal Bank Of Canada increased their price target on Ares Management from $195.00 to $215.00 and gave the stock an “outperform” rating in a research report on Monday, August 18th. Barclays boosted their price objective on Ares Management from $182.00 to $200.00 and gave the company an “overweight” rating in a research report on Thursday, July 10th. Finally, JMP Securities upped their target price on Ares Management from $195.00 to $205.00 and gave the stock a “market outperform” rating in a research note on Wednesday, August 6th. Thirteen equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $182.73.

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.