Running Point Capital Advisors LLC Has $5.43 Million Stock Holdings in Ares Management Corporation $ARES

Running Point Capital Advisors LLC lowered its stake in shares of Ares Management Corporation (NYSE:ARES) by 14.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 33,953 shares of the asset manager’s stock after selling 5,614 shares during the period. Ares Management makes up 1.5% of Running Point Capital Advisors LLC’s investment portfolio, making the stock its 16th biggest holding. Running Point Capital Advisors LLC’s holdings in Ares Management were worth $5,429,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. AQR Capital Management LLC increased its position in Ares Management by 116.7% in the 1st quarter. AQR Capital Management LLC now owns 10,360 shares of the asset manager’s stock valued at $1,519,000 after buying an additional 5,579 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Ares Management by 5.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,344 shares of the asset manager’s stock valued at $197,000 after acquiring an additional 70 shares in the last quarter. Empowered Funds LLC increased its holdings in shares of Ares Management by 42.7% during the first quarter. Empowered Funds LLC now owns 6,197 shares of the asset manager’s stock valued at $909,000 after acquiring an additional 1,853 shares in the last quarter. Focus Partners Wealth raised its position in shares of Ares Management by 15.3% during the first quarter. Focus Partners Wealth now owns 1,902 shares of the asset manager’s stock worth $279,000 after purchasing an additional 252 shares during the period. Finally, Geneos Wealth Management Inc. lifted its holdings in shares of Ares Management by 708.2% in the 1st quarter. Geneos Wealth Management Inc. now owns 493 shares of the asset manager’s stock worth $72,000 after purchasing an additional 432 shares in the last quarter. 50.03% of the stock is currently owned by institutional investors and hedge funds.

Ares Management Price Performance

Ares Management stock opened at $169.48 on Friday. Ares Management Corporation has a 52 week low of $110.63 and a 52 week high of $200.49. The company’s 50 day moving average price is $162.97 and its two-hundred day moving average price is $168.41. The stock has a market cap of $55.40 billion, a P/E ratio of 72.74, a P/E/G ratio of 1.00 and a beta of 1.53. The company has a quick ratio of 0.22, a current ratio of 0.22 and a debt-to-equity ratio of 0.62.

Ares Management (NYSE:ARES) last issued its quarterly earnings results on Friday, October 31st. The asset manager reported $1.19 EPS for the quarter, beating analysts’ consensus estimates of $1.14 by $0.05. The company had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.03 billion. Ares Management had a return on equity of 16.33% and a net margin of 11.72%.During the same period last year, the business posted $0.55 earnings per share. On average, equities 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 was paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 17th were paid a dividend of $0.8438 per share. This represents a $3.38 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date was Wednesday, December 17th. Ares Management’s payout ratio is presently 192.27%.

Insider Buying and Selling at Ares Management

In related news, CEO Michael J. Arougheti sold 186,197 shares of the stock in a transaction dated 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 transaction, the chief executive officer owned 290,997 shares in the company, valued at approximately $44,449,791.75. This represents a 39.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last quarter, insiders have sold 590,000 shares of company stock valued at $90,653,808. 36.86% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Cowen restated a “buy” rating on shares of Ares Management in a report on Wednesday. Wolfe Research set a $210.00 target price on shares of Ares Management and gave the stock an “outperform” rating in a report on Wednesday, January 7th. TD Cowen lifted their price target on Ares Management from $197.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday. UBS Group lowered their price objective on Ares Management from $201.00 to $198.00 and set a “neutral” rating for the company in a research note on Tuesday. Finally, Oppenheimer set a $190.00 target price on Ares Management and gave the company an “outperform” rating in a research report on Tuesday, November 4th. Thirteen research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, Ares Management has an average rating of “Moderate Buy” and a consensus price target of $192.14.

Ares Management Company Profile

Ares Management Corporation (NYSE: ARES) is a global alternative asset manager that provides investment solutions across credit, private equity and real estate. The firm originates and manages capital across a range of strategies including direct lending, syndicated and special situations credit, private equity buyouts and growth investments, and real estate equity and debt. Ares serves institutional investors, insurance companies, pension funds, sovereign wealth funds, and high?net?worth clients through both commingled funds and bespoke managed account structures.

Within credit, Ares offers strategies spanning leveraged loans, structured credit, opportunistic and distressed debt, and specialty finance, with an emphasis on underwriting, portfolio construction and active asset management.