Ares Management Corporation (NYSE:ARES) Shares Bought by Cambridge Investment Research Advisors Inc.

Cambridge Investment Research Advisors Inc. grew its stake in shares of Ares Management Corporation (NYSE:ARES) by 40.7% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 7,960 shares of the asset manager’s stock after purchasing an additional 2,302 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Ares Management were worth $1,167,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Transce3nd LLC purchased a new stake in Ares Management during the fourth quarter worth about $29,000. Johnson Financial Group Inc. lifted its position in shares of Ares Management by 104.8% during the 4th quarter. Johnson Financial Group Inc. now owns 170 shares of the asset manager’s stock valued at $30,000 after acquiring an additional 87 shares during the period. Elequin Capital LP purchased a new stake in shares of Ares Management during the 4th quarter worth approximately $33,000. Global Financial Private Client LLC grew its holdings in shares of Ares Management by 125.6% in the 1st quarter. Global Financial Private Client LLC now owns 264 shares of the asset manager’s stock worth $39,000 after acquiring an additional 147 shares during the period. Finally, Rakuten Securities Inc. increased its stake in Ares Management by 3,262.5% in the 1st quarter. Rakuten Securities Inc. now owns 269 shares of the asset manager’s stock valued at $39,000 after purchasing an additional 261 shares in the last quarter. 50.03% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Michael J. Arougheti sold 107,500 shares of the stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $161.34, for a total value of $17,344,050.00. Following the completion of the sale, the chief executive officer directly owned 1,400,000 shares of the company’s stock, valued at approximately $225,876,000. This represents a 7.13% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Bennett Rosenthal sold 85,000 shares of the stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $168.79, for a total transaction of $14,347,150.00. The disclosure for this sale can be found here. Insiders sold 873,145 shares of company stock worth $146,204,353 over the last quarter. Corporate insiders own 36.86% of the company’s stock.

Ares Management Stock Down 0.0%

Shares of ARES stock opened at $177.96 on Friday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.07 and a current ratio of 1.07. The stock has a market cap of $58.12 billion, a PE ratio of 104.68, a price-to-earnings-growth ratio of 1.40 and a beta of 1.37. The business’s fifty day moving average is $166.68 and its 200-day moving average is $166.42. Ares Management Corporation has a 1 year low of $110.63 and a 1 year high of $200.49.

Ares Management (NYSE:ARES) last posted its quarterly earnings results on Monday, May 5th. The asset manager reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.94 by $0.15. The firm had revenue of $951.96 million for the quarter, compared to analyst estimates of $914.00 million. Ares Management had a net margin of 9.73% and a return on equity of 16.29%. During the same quarter in the previous year, the business posted $0.80 earnings per share. Equities analysts expect that Ares Management Corporation will post 5.28 earnings per share for the current fiscal year.

Ares Management Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 16th were paid a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a yield of 2.52%. The ex-dividend date of this dividend was Monday, June 16th. Ares Management’s dividend payout ratio (DPR) is currently 263.53%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Bank of America cut their price target on Ares Management from $221.00 to $201.00 and set a “buy” rating for the company in a research note on Friday, April 4th. Citizens Jmp raised shares of Ares Management from a “market perform” rating to an “outperform” rating and set a $165.00 price target on the stock in a report on Tuesday, April 8th. Barclays increased their price target on shares of Ares Management from $142.00 to $182.00 and gave the company an “overweight” rating in a research report on Tuesday, May 6th. Oppenheimer lowered Ares Management from an “outperform” rating to a “market perform” rating in a research note on Thursday, May 15th. Finally, TD Cowen dropped their price target on Ares Management from $216.00 to $161.00 and set a “buy” rating for the company in a research report on Wednesday, April 9th. One analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $174.94.

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.