Ares Management Corporation $ARES Stock Holdings Lifted by Resona Asset Management Co. Ltd.

Resona Asset Management Co. Ltd. grew its position in Ares Management Corporation (NYSE:ARES) by 13.1% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 62,494 shares of the asset manager’s stock after acquiring an additional 7,251 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in Ares Management were worth $10,824,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. IFP Advisors Inc lifted its stake in shares of Ares Management by 129.6% in the first quarter. IFP Advisors Inc now owns 1,988 shares of the asset manager’s stock worth $291,000 after buying an additional 1,122 shares during the last quarter. TCW Group Inc. grew its stake in Ares Management by 99.5% in the 1st quarter. TCW Group Inc. now owns 31,765 shares of the asset manager’s stock valued at $4,657,000 after buying an additional 15,846 shares during the last quarter. U.S. Capital Wealth Advisors LLC bought a new position in Ares Management in the 1st quarter worth $343,000. Stephens Inc. AR lifted its position in Ares Management by 3.3% during the 1st quarter. Stephens Inc. AR now owns 57,157 shares of the asset manager’s stock worth $8,380,000 after acquiring an additional 1,850 shares during the last quarter. Finally, Alta Fox Capital Management LLC bought a new stake in Ares Management during the first quarter valued at about $2,453,000. 50.03% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO Michael J. Arougheti sold 136,516 shares of the company’s stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $182.74, for a total value of $24,946,933.84. Following the sale, 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 legal filing with the SEC, which is available through this hyperlink. Also, Chairman Antony P. Ressler sold 196,197 shares of the stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $178.79, for a total transaction of $35,078,061.63. Following the completion of the transaction, the chairman directly owned 1,424,538 shares of the company’s stock, valued at $254,693,149.02. This trade represents a 12.11% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 2,590,000 shares of company stock valued at $464,430,639. Corporate insiders own 36.86% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on ARES. Cfra Research upgraded Ares Management to a “moderate buy” rating in a research note on Monday, August 4th. Cowen reaffirmed a “buy” rating on shares of Ares Management in a report on Tuesday. TD Cowen lifted their price target on Ares Management from $175.00 to $197.00 and gave the stock a “buy” rating in a research report on Tuesday, November 4th. Keefe, Bruyette & Woods upped their price target on Ares Management from $188.00 to $189.00 and gave the stock an “outperform” rating in a report on Tuesday. Finally, Raymond James Financial initiated coverage on shares of Ares Management in a research note on Monday, July 28th. They issued a “market perform” rating on the stock. Thirteen investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, Ares Management currently has an average rating of “Moderate Buy” and a consensus price target of $184.79.

Ares Management Trading Up 1.6%

Ares Management stock opened at $153.68 on Friday. The business has a 50 day moving average price of $161.09 and a two-hundred day moving average price of $168.96. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.64. Ares Management Corporation has a 12 month low of $110.63 and a 12 month high of $200.49. The stock has a market cap of $50.21 billion, a price-to-earnings ratio of 88.83, a price-to-earnings-growth ratio of 1.19 and a beta of 1.45.

Ares Management (NYSE:ARES) last announced its quarterly earnings data on Monday, November 3rd. The asset manager reported $1.19 earnings per share for the quarter, topping the consensus estimate of $1.14 by $0.05. The company had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.03 billion. Ares Management had a return on equity of 15.81% and a net margin of 9.47%.During the same quarter last year, the firm earned $0.55 EPS. As a group, equities analysts forecast that Ares Management Corporation will post 5.28 EPS for the current year.

Ares Management Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 17th will be issued a $0.8438 dividend. This represents a $3.38 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend is Wednesday, December 17th. Ares Management’s payout ratio is 192.27%.

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.