CVA Family Office LLC Buys 218 Shares of Ares Management Corporation $ARES

CVA Family Office LLC increased its stake in Ares Management Corporation (NYSE:ARES) by 92.8% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 453 shares of the asset manager’s stock after acquiring an additional 218 shares during the period. CVA Family Office LLC’s holdings in Ares Management were worth $78,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. IFP Advisors Inc raised its holdings in shares of Ares Management by 129.6% during the 1st quarter. IFP Advisors Inc now owns 1,988 shares of the asset manager’s stock valued at $291,000 after buying an additional 1,122 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its stake in shares of Ares Management by 40.7% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 7,960 shares of the asset manager’s stock worth $1,167,000 after acquiring an additional 2,302 shares in the last quarter. Stratos Wealth Partners LTD. lifted its holdings in shares of Ares Management by 4.2% in the 1st quarter. Stratos Wealth Partners LTD. now owns 53,401 shares of the asset manager’s stock worth $7,829,000 after acquiring an additional 2,171 shares during the last quarter. TCW Group Inc. boosted its stake in shares of 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 purchasing an additional 15,846 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. bought a new position in shares of Ares Management during the 1st quarter valued at $667,000. 50.03% of the stock is currently owned by hedge funds and other institutional investors.

Ares Management Trading Up 0.7%

ARES opened at $149.42 on Monday. Ares Management Corporation has a one year low of $110.63 and a one year high of $200.49. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.08 and a quick ratio of 1.08. The business has a 50 day simple moving average of $166.89 and a two-hundred day simple moving average of $168.14. The firm has a market capitalization of $48.82 billion, a price-to-earnings ratio of 86.37, a PEG ratio of 1.18 and a beta of 1.43.

Ares Management (NYSE:ARES) last posted its earnings results on Friday, August 1st. The asset manager reported $1.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.15 by ($0.12). The business had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.02 billion. Ares Management had a net margin of 9.47% and a return on equity of 15.81%. During the same period last year, the firm posted $0.99 earnings per share. Analysts predict 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. Shareholders of record on Tuesday, September 16th were issued a $1.12 dividend. The ex-dividend date was Tuesday, September 16th. This represents a $4.48 annualized dividend and a yield of 3.0%. Ares Management’s dividend payout ratio is 258.96%.

Analysts Set New Price Targets

Several research firms have weighed in on ARES. Morgan Stanley lowered their price target on shares of Ares Management from $178.00 to $175.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 21st. Oppenheimer set a $180.00 target price on Ares Management and gave the company an “outperform” rating in a research note on Tuesday, October 14th. JMP Securities increased their target price on Ares Management from $195.00 to $205.00 and gave the company a “market outperform” rating in a report on Wednesday, August 6th. Barclays decreased their price target on Ares Management from $200.00 to $187.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 8th. Finally, Royal Bank Of Canada reissued an “outperform” rating and set a $215.00 price objective on shares of Ares Management in a research note on Monday, September 29th. Thirteen investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $181.93.

Insider Activity at Ares Management

In other news, Chairman Antony P. Ressler sold 128,837 shares of Ares Management stock in a transaction dated Wednesday, September 10th. The shares were sold at an average price of $178.30, for a total transaction of $22,971,637.10. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Over the last three months, insiders have sold 2,590,000 shares of company stock valued at $464,430,639. Company insiders own 0.52% of the company’s stock.

About Ares Management

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.