Vanguard Personalized Indexing Management LLC Has $2.90 Million Stock Holdings in Ares Management Corporation $ARES

Vanguard Personalized Indexing Management LLC raised its holdings in shares of Ares Management Corporation (NYSE:ARES) by 7.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,765 shares of the asset manager’s stock after purchasing an additional 1,103 shares during the quarter. Vanguard Personalized Indexing Management LLC’s holdings in Ares Management were worth $2,904,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in ARES. Vanguard Group Inc. increased its position in Ares Management by 2.0% during the 1st quarter. Vanguard Group Inc. now owns 19,189,991 shares of the asset manager’s stock worth $2,813,445,000 after buying an additional 382,273 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Ares Management by 24.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,208,292 shares of the asset manager’s stock valued at $177,148,000 after buying an additional 240,564 shares in the last quarter. Strs Ohio acquired a new stake in Ares Management in the first quarter valued at about $26,350,000. Westfield Capital Management Co. LP boosted its stake in shares of Ares Management by 18.3% during the first quarter. Westfield Capital Management Co. LP now owns 1,128,415 shares of the asset manager’s stock valued at $165,437,000 after purchasing an additional 174,645 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its stake in shares of Ares Management by 4.8% during the first quarter. Principal Financial Group Inc. now owns 3,354,032 shares of the asset manager’s stock valued at $491,735,000 after purchasing an additional 152,169 shares in the last quarter. Institutional investors own 50.03% of the company’s stock.

Ares Management Stock Up 0.9%

Shares of NYSE ARES opened at $151.00 on Thursday. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.08 and a quick ratio of 1.08. Ares Management Corporation has a one year low of $110.63 and a one year high of $200.49. The stock has a market capitalization of $49.33 billion, a PE ratio of 87.28, a P/E/G ratio of 1.18 and a beta of 1.43. The business’s fifty day moving average price is $172.82 and its 200-day moving average price is $167.09.

Ares Management (NYSE:ARES) last released its quarterly earnings data 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). Ares Management had a net margin of 9.47% and a return on equity of 15.81%. The company had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.02 billion. During the same quarter in the previous year, the firm posted $0.99 earnings per share. On average, equities research analysts anticipate that Ares Management Corporation will post 5.28 EPS for the current year.

Ares Management Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th were paid a dividend of $1.12 per share. 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%.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Keefe, Bruyette & Woods lifted their price objective on Ares Management from $193.00 to $203.00 and gave the stock an “outperform” rating in a research note on Monday, August 4th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $215.00 target price on shares of Ares Management in a report on Monday, September 29th. Oppenheimer set a $180.00 price objective on Ares Management and gave the company an “outperform” rating in a report on Tuesday. JMP Securities upped their price target on Ares Management from $195.00 to $205.00 and gave the stock a “market outperform” rating in a report on Wednesday, August 6th. Finally, Wells Fargo & Company upped their price target on Ares Management from $189.00 to $202.00 and gave the stock an “overweight” rating in a report on Friday, July 11th. Fourteen analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $181.31.

Insider Transactions at Ares Management

In other Ares Management news, Chairman Antony P. Ressler sold 196,197 shares of the company’s stock in a transaction dated 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. This represents a 12.11% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Michael J. Arougheti sold 136,516 shares of the 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 transaction, the chief executive officer owned 311,728 shares in the company, valued at $56,965,174.72. This trade represents 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. Corporate insiders own 36.86% of the company’s stock.

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.