Ares Management Corporation $ARES Shares Sold by Brookwood Investment Group LLC

Brookwood Investment Group LLC trimmed its stake in shares of Ares Management Corporation (NYSE:ARES) by 5.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,667 shares of the asset manager’s stock after selling 164 shares during the quarter. Brookwood Investment Group LLC’s holdings in Ares Management were worth $462,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. MGO One Seven LLC raised its position in shares of Ares Management by 1.3% during the 2nd quarter. MGO One Seven LLC now owns 4,576 shares of the asset manager’s stock worth $793,000 after purchasing an additional 60 shares during the period. Smartleaf Asset Management LLC increased its position in Ares Management by 9.1% in the 1st quarter. Smartleaf Asset Management LLC now owns 746 shares of the asset manager’s stock valued at $108,000 after acquiring an additional 62 shares during the period. Cigna Investments Inc. New increased its position in Ares Management by 3.4% in the 2nd quarter. Cigna Investments Inc. New now owns 1,890 shares of the asset manager’s stock valued at $327,000 after acquiring an additional 62 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Ares Management by 5.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,344 shares of the asset manager’s stock valued at $197,000 after acquiring an additional 70 shares during the period. Finally, QRG Capital Management Inc. increased its position in Ares Management by 2.1% in the 2nd quarter. QRG Capital Management Inc. now owns 3,619 shares of the asset manager’s stock valued at $627,000 after acquiring an additional 74 shares during the period. 50.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently commented on ARES. Citigroup restated a “market outperform” rating on shares of Ares Management in a research report on Tuesday, October 21st. Royal Bank Of Canada restated an “outperform” rating and issued a $215.00 target price on shares of Ares Management in a research report on Monday, September 29th. Cfra Research upgraded Ares Management to a “moderate buy” rating in a research report on Monday, August 4th. Raymond James Financial initiated coverage on Ares Management in a research note on Monday, July 28th. They set a “market perform” rating for the company. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Ares Management in a research note on Tuesday, October 14th. Thirteen research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $181.93.

Ares Management Stock Performance

Shares of NYSE ARES opened at $150.85 on Tuesday. The firm has a market cap of $49.28 billion, a P/E ratio of 87.20, a PEG ratio of 1.18 and a beta of 1.43. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.08 and a current ratio of 1.08. The stock has a fifty day moving average price of $166.12 and a two-hundred day moving average price of $168.20. Ares Management Corporation has a 1 year low of $110.63 and a 1 year high of $200.49.

Ares Management (NYSE:ARES) last issued its earnings results on Friday, August 1st. The asset manager reported $1.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.15 by ($0.12). The company had revenue of $1.35 billion during 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 quarter in the previous year, the firm earned $0.99 earnings per share. Research analysts forecast that Ares Management Corporation will post 5.28 EPS for the current fiscal year.

Ares Management Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th were issued a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date was Tuesday, September 16th. Ares Management’s payout ratio is presently 258.96%.

Insiders Place Their Bets

In related news, Chairman Antony P. Ressler sold 196,197 shares of Ares Management stock in a transaction on 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 $254,693,149.02. The trade was a 12.11% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Michael J. Arougheti sold 136,516 shares of Ares Management stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $182.74, for a total value of $24,946,933.84. Following the completion of the transaction, the chief executive officer owned 311,728 shares in the company, valued at $56,965,174.72. The trade was a 30.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,590,000 shares of company stock worth $464,430,639 over the last 90 days. Insiders own 36.86% of the company’s stock.

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.