Skandinaviska Enskilda Banken AB publ Has $7.19 Million Stock Holdings in Ares Management Corporation $ARES

Skandinaviska Enskilda Banken AB publ decreased its position in Ares Management Corporation (NYSE:ARES) by 18.0% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 41,487 shares of the asset manager’s stock after selling 9,084 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Ares Management were worth $7,186,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in ARES. Nemes Rush Group LLC boosted its position in Ares Management by 3.1% in the second quarter. Nemes Rush Group LLC now owns 1,745 shares of the asset manager’s stock valued at $302,000 after buying an additional 52 shares in the last quarter. New York Life Investment Management LLC increased its holdings in shares of Ares Management by 2.0% during the second quarter. New York Life Investment Management LLC now owns 3,083 shares of the asset manager’s stock worth $534,000 after buying an additional 59 shares in the last quarter. First Horizon Advisors Inc. raised its stake in shares of Ares Management by 10.3% in the second quarter. First Horizon Advisors Inc. now owns 630 shares of the asset manager’s stock valued at $109,000 after acquiring an additional 59 shares during the last quarter. MGO One Seven LLC boosted its holdings in shares of Ares Management by 1.3% in the 2nd quarter. MGO One Seven LLC now owns 4,576 shares of the asset manager’s stock worth $793,000 after acquiring an additional 60 shares in the last quarter. Finally, Smartleaf Asset Management LLC boosted its holdings in shares of Ares Management by 9.1% in the 1st quarter. Smartleaf Asset Management LLC now owns 746 shares of the asset manager’s stock worth $108,000 after acquiring an additional 62 shares in the last quarter. Institutional investors and hedge funds own 50.03% of the company’s stock.

Insider Activity at Ares Management

In related news, CEO Michael J. Arougheti sold 186,197 shares of the business’s stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $152.75, for a total transaction of $28,441,591.75. Following the completion of the sale, the chief executive officer directly owned 290,997 shares of the company’s stock, valued at $44,449,791.75. The trade was a 39.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Chairman Antony P. Ressler sold 128,837 shares of the stock in a transaction that occurred on Wednesday, September 10th. The shares were sold at an average price of $178.30, for a total transaction of $22,971,637.10. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 1,342,449 shares of company stock valued at $230,476,309. 36.86% of the stock is owned by corporate insiders.

Ares Management Trading Up 1.4%

ARES stock opened at $156.74 on Monday. The company has a market cap of $51.23 billion, a P/E ratio of 90.60, a PEG ratio of 1.19 and a beta of 1.45. Ares Management Corporation has a twelve month low of $110.63 and a twelve month high of $200.49. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.64. The business has a fifty day moving average of $152.15 and a 200-day moving average of $167.97.

Ares Management (NYSE:ARES) last posted its quarterly earnings results on Friday, October 31st. The asset manager reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.14 by $0.05. The business had revenue of $1.66 billion for the quarter, compared to analysts’ expectations 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 business earned $0.55 earnings per share. As a group, equities research analysts expect that Ares Management Corporation will post 5.28 EPS for the current year.

Ares Management Cuts Dividend

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

Analyst Ratings Changes

A number of research firms recently weighed in on ARES. TD Cowen raised their price target on Ares Management from $175.00 to $197.00 and gave the company a “buy” rating in a report on Tuesday, November 4th. Morgan Stanley decreased their target price on Ares Management from $178.00 to $175.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 21st. Keefe, Bruyette & Woods raised their target price on Ares Management from $188.00 to $189.00 and gave the company an “outperform” rating in a research note on Tuesday, November 4th. Bank of America upped their price target on shares of Ares Management from $196.00 to $197.00 and gave the stock a “buy” rating in a research report on Friday, October 3rd. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Ares Management in a report on Monday, November 24th. Thirteen research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus 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.