Ares Management Corporation $ARES Holdings Trimmed by Painted Porch Advisors LLC

Painted Porch Advisors LLC decreased its holdings in Ares Management Corporation (NYSE:ARES) by 4.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,058 shares of the asset manager’s stock after selling 809 shares during the period. Ares Management comprises approximately 1.2% of Painted Porch Advisors LLC’s holdings, making the stock its 10th largest holding. Painted Porch Advisors LLC’s holdings in Ares Management were worth $2,954,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in ARES. Vanguard Group Inc. increased its stake in shares of Ares Management by 2.0% during the first quarter. Vanguard Group Inc. now owns 19,189,991 shares of the asset manager’s stock valued at $2,813,445,000 after buying an additional 382,273 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Ares Management by 24.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,208,292 shares of the asset manager’s stock valued at $177,148,000 after buying an additional 240,564 shares during the period. Strs Ohio purchased a new position in shares of Ares Management during the first quarter valued at $26,350,000. Westfield Capital Management Co. LP increased its stake in shares of Ares Management by 18.3% during the first quarter. Westfield Capital Management Co. LP now owns 1,128,415 shares of the asset manager’s stock valued at $165,437,000 after buying an additional 174,645 shares during the period. Finally, Principal Financial Group Inc. increased its stake in shares of Ares Management by 4.8% during the first quarter. Principal Financial Group Inc. now owns 3,354,032 shares of the asset manager’s stock valued at $491,735,000 after buying an additional 152,169 shares during the period. Hedge funds and other institutional investors own 50.03% of the company’s stock.

Ares Management Trading Down 0.2%

Shares of ARES stock opened at $182.99 on Monday. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.08 and a quick ratio of 1.08. The company has a market cap of $59.79 billion, a price-to-earnings ratio of 105.78, a PEG ratio of 1.43 and a beta of 1.44. The stock has a 50 day simple moving average of $182.58 and a 200-day simple moving average of $166.22. Ares Management Corporation has a 1-year low of $110.63 and a 1-year high of $200.49.

Ares Management (NYSE:ARES) last announced its earnings results on Friday, August 1st. The asset manager reported $1.03 earnings per share for the quarter, missing the consensus estimate of $1.15 by ($0.12). The business had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.02 billion. Ares Management had a return on equity of 15.81% and a net margin of 9.47%.During the same period in the previous year, the company earned $0.99 earnings per share. On average, equities research analysts expect that Ares Management Corporation will post 5.28 EPS for the current fiscal year.

Ares Management Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th will be issued a $1.12 dividend. This represents a $4.48 annualized dividend and a yield of 2.4%. The ex-dividend date is Tuesday, September 16th. Ares Management’s dividend payout ratio is presently 258.96%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Raymond James Financial assumed coverage on Ares Management in a research report on Monday, July 28th. They set a “market perform” rating on the stock. Keefe, Bruyette & Woods raised their price objective on Ares Management from $193.00 to $203.00 and gave the company an “outperform” rating in a research report on Monday, August 4th. Citigroup reaffirmed an “outperform” rating on shares of Ares Management in a research report on Monday, July 14th. Cfra Research raised Ares Management to a “moderate buy” rating in a research report on Monday, August 4th. Finally, Wells Fargo & Company raised their price objective on Ares Management from $189.00 to $202.00 and gave the company an “overweight” rating in a research report on Friday, July 11th. Thirteen investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $182.73.

Insider Transactions at Ares Management

In other Ares Management news, Chairman Antony P. Ressler sold 128,837 shares of the company’s stock in a transaction on Wednesday, September 10th. The stock was sold at an average price of $178.30, for a total value of $22,971,637.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last three months, insiders sold 2,590,000 shares of company stock valued at $464,430,639. 0.52% of the stock is owned by corporate insiders.

About Ares Management

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.