Jupiter Asset Management Ltd. Cuts Holdings in Ares Management Corporation $ARES

Jupiter Asset Management Ltd. trimmed its position in Ares Management Corporation (NYSE:ARES) by 81.9% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 8,163 shares of the asset manager’s stock after selling 36,973 shares during the period. Jupiter Asset Management Ltd.’s holdings in Ares Management were worth $1,414,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the company. New York Life Investment Management LLC grew its holdings in shares of Ares Management by 2.0% in the second quarter. New York Life Investment Management LLC now owns 3,083 shares of the asset manager’s stock valued at $534,000 after acquiring an additional 59 shares in the last quarter. First Horizon Advisors Inc. boosted its position in Ares Management by 10.3% in the second quarter. First Horizon Advisors Inc. now owns 630 shares of the asset manager’s stock worth $109,000 after purchasing an additional 59 shares during the last quarter. MGO One Seven LLC grew its stake in Ares Management by 1.3% in the 2nd quarter. MGO One Seven LLC now owns 4,576 shares of the asset manager’s stock valued at $793,000 after purchasing an additional 60 shares during the period. Smartleaf Asset Management LLC grew its stake 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 purchasing an additional 62 shares during the period. Finally, Cigna Investments Inc. New increased its position in shares of Ares Management by 3.4% during the 2nd quarter. Cigna Investments Inc. New now owns 1,890 shares of the asset manager’s stock valued at $327,000 after purchasing an additional 62 shares during the last quarter. Institutional investors own 50.03% of the company’s stock.

Ares Management Stock Down 1.3%

Ares Management stock opened at $146.53 on Friday. Ares Management Corporation has a 1-year low of $110.63 and a 1-year high of $200.49. The firm has a market capitalization of $47.87 billion, a price-to-earnings ratio of 84.70, a P/E/G ratio of 1.19 and a beta of 1.45. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.64. The firm has a 50 day simple moving average of $158.36 and a 200 day simple moving average of $168.83.

Ares Management (NYSE:ARES) last posted its earnings results on Friday, October 31st. The asset manager reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.14 by $0.05. Ares Management had a return on equity of 15.81% and a net margin of 9.47%.The firm had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter in the prior year, the business posted $0.55 earnings per share. On average, analysts predict that Ares Management Corporation will post 5.28 earnings per share for the current year.

Ares Management Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Wednesday, December 17th will be issued a dividend of $0.8438 per share. The ex-dividend date of this dividend is Wednesday, December 17th. This represents a $3.38 dividend on an annualized basis and a yield of 2.3%. Ares Management’s dividend payout ratio is 192.27%.

Insider Activity

In other Ares Management news, Chairman Antony P. Ressler sold 196,197 shares of Ares Management 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 owned 1,424,538 shares of the company’s stock, valued at $254,693,149.02. The trade was a 12.11% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Michael J. Arougheti sold 136,516 shares of the stock in a transaction dated 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 completion of the sale, the chief executive officer directly owned 311,728 shares in the company, valued at approximately $56,965,174.72. The trade was a 30.46% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 2,533,796 shares of company stock valued at $453,825,507. 36.86% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on ARES shares. JMP Securities boosted their price target on shares of Ares Management from $195.00 to $205.00 and gave the stock a “market outperform” rating in a report on Wednesday, August 6th. Oppenheimer set a $190.00 target price on shares of Ares Management and gave the company an “outperform” rating in a research note on Tuesday, November 4th. Royal Bank Of Canada restated an “outperform” rating and set a $215.00 price target on shares of Ares Management in a research note on Monday, September 29th. Raymond James Financial started coverage on Ares Management in a research note on Monday, July 28th. They issued a “market perform” rating on the stock. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Ares Management in a report on Tuesday. Thirteen investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $187.46.

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.