Metis Global Partners LLC Sells 913 Shares of Ares Management Corporation $ARES

Metis Global Partners LLC decreased its holdings in shares of Ares Management Corporation (NYSE:ARES) by 27.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,444 shares of the asset manager’s stock after selling 913 shares during the quarter. Metis Global Partners LLC’s holdings in Ares Management were worth $423,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the stock. IFP Advisors Inc grew its position 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 valued at $291,000 after purchasing an additional 1,122 shares in the last quarter. TCW Group Inc. boosted 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 worth $4,657,000 after purchasing an additional 15,846 shares during the period. Alta Fox Capital Management LLC purchased a new position in Ares Management during the 1st quarter valued at about $2,453,000. Park Avenue Securities LLC bought a new stake in shares of Ares Management during the second quarter valued at about $2,578,000. Finally, Jupiter Asset Management Ltd. lifted its holdings in shares of Ares Management by 58.6% in the first quarter. Jupiter Asset Management Ltd. now owns 45,136 shares of the asset manager’s stock worth $6,617,000 after buying an additional 16,680 shares in the last quarter. Hedge funds and other institutional investors own 50.03% of the company’s stock.

Ares Management Stock Performance

Ares Management stock opened at $153.62 on Thursday. Ares Management Corporation has a fifty-two week low of $110.63 and a fifty-two week high of $200.49. 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 market cap of $50.19 billion, a P/E ratio of 88.80, a price-to-earnings-growth ratio of 1.19 and a beta of 1.45. The firm’s fifty day moving average price is $159.60 and its 200-day moving average price is $169.02.

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

Ares Management Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 17th will be given a dividend of $0.8438 per share. The ex-dividend date is Wednesday, December 17th. This represents a $3.38 annualized dividend and a dividend yield of 2.2%. Ares Management’s dividend payout ratio is 192.27%.

Insider Transactions at Ares Management

In related news, CEO Michael J. Arougheti sold 136,516 shares of the business’s stock in a transaction that occurred 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 sale, 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 position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Antony P. Ressler sold 196,197 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the chairman directly owned 1,424,538 shares of the company’s stock, valued at approximately $254,693,149.02. This represents a 12.11% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 2,590,000 shares of company stock worth $464,430,639. 0.52% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

ARES has been the subject of several recent analyst reports. Citigroup reaffirmed a “market outperform” rating on shares of Ares Management in a research note on Tuesday, October 21st. Raymond James Financial started coverage on shares of Ares Management in a research report on Monday, July 28th. They set a “market perform” rating for the company. Oppenheimer set a $190.00 price target on shares of Ares Management and gave the stock an “outperform” rating in a report on Tuesday, November 4th. BMO Capital Markets began coverage on Ares Management in a research note on Friday, October 3rd. They set a “market perform” rating and a $156.00 price objective for the company. Finally, TD Cowen boosted their target price on Ares Management from $175.00 to $197.00 and gave the stock a “buy” rating in a research report on Tuesday, November 4th. Thirteen research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $187.46.

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.