Ares Management Corporation $ARES Shares Sold by Frank Rimerman Advisors LLC

Frank Rimerman Advisors LLC decreased its stake in shares of Ares Management Corporation (NYSE:ARES) by 17.6% during the 2nd quarter, Holdings Channel.com reports. The firm owned 4,490 shares of the asset manager’s stock after selling 956 shares during the period. Frank Rimerman Advisors LLC’s holdings in Ares Management were worth $778,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. WBI Investments LLC purchased a new stake in shares of Ares Management during the second quarter worth approximately $1,081,000. Nomura Asset Management Co. Ltd. lifted its stake in Ares Management by 55.7% in the second quarter. Nomura Asset Management Co. Ltd. now owns 98,225 shares of the asset manager’s stock worth $17,013,000 after acquiring an additional 35,127 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH grew its holdings in Ares Management by 9.5% during the 2nd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 58,341 shares of the asset manager’s stock worth $10,105,000 after acquiring an additional 5,068 shares in the last quarter. Rockefeller Capital Management L.P. increased its position in shares of Ares Management by 115.7% in the 2nd quarter. Rockefeller Capital Management L.P. now owns 265,459 shares of the asset manager’s stock valued at $45,978,000 after purchasing an additional 142,405 shares during the last quarter. Finally, Kingsview Wealth Management LLC increased its position in shares of Ares Management by 4.0% in the 2nd quarter. Kingsview Wealth Management LLC now owns 1,625 shares of the asset manager’s stock valued at $281,000 after purchasing an additional 63 shares during the last quarter. Hedge funds and other institutional investors own 50.03% of the company’s stock.

Insider Activity at Ares Management

In related news, Chairman Antony P. Ressler sold 128,837 shares of the firm’s stock in a transaction dated Wednesday, September 10th. The stock was sold at an average price of $178.30, for a total transaction of $22,971,637.10. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders have sold 2,115,877 shares of company stock valued at $377,766,128 over the last three months. 36.86% of the stock is currently owned by corporate insiders.

Ares Management Stock Performance

Shares of ARES stock opened at $142.49 on Wednesday. Ares Management Corporation has a 1 year low of $110.63 and a 1 year 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 firm has a market cap of $46.58 billion, a price-to-earnings ratio of 82.37, a PEG ratio of 1.19 and a beta of 1.45. The stock’s 50-day moving average is $157.02 and its two-hundred day moving average is $168.87.

Ares Management (NYSE:ARES) last announced its earnings results on Friday, October 31st. The asset manager reported $1.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.14 by $0.05. The firm had revenue of $1.66 billion during 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 period in the prior year, the firm earned $0.55 EPS. Analysts predict that Ares Management Corporation will post 5.28 earnings per share 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 issued a $0.8438 dividend. This represents a $3.38 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend is Wednesday, December 17th. Ares Management’s dividend payout ratio is presently 192.27%.

Analysts Set New Price Targets

ARES has been the subject of a number of analyst reports. TD Cowen boosted their target price on shares of Ares Management from $175.00 to $197.00 and gave the stock a “buy” rating in a research note on Tuesday, November 4th. Keefe, Bruyette & Woods lifted their price target on Ares Management from $188.00 to $189.00 and gave the stock an “outperform” rating in a report on Tuesday, November 4th. Barclays lowered their price objective on Ares Management from $200.00 to $187.00 and set an “overweight” rating for the company in a research report on Wednesday, October 8th. Weiss Ratings reissued a “hold (c+)” rating on shares of Ares Management in a research report on Monday. Finally, Citigroup restated a “market outperform” rating on shares of Ares Management in a research note on Tuesday, October 21st. Thirteen research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, Ares Management currently has a consensus rating of “Moderate Buy” and a consensus price target 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.