Capital World Investors Sells 166,641 Shares of Ares Management Corporation $ARES

Capital World Investors decreased its holdings in Ares Management Corporation (NYSE:ARES) by 1.4% in the 3rd quarter, Holdings Channel.com reports. The firm owned 11,579,021 shares of the asset manager’s stock after selling 166,641 shares during the period. Capital World Investors’ holdings in Ares Management were worth $1,851,372,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Exchange Traded Concepts LLC grew its position in shares of Ares Management by 100.0% in the third quarter. Exchange Traded Concepts LLC now owns 190 shares of the asset manager’s stock valued at $30,000 after purchasing an additional 95 shares in the last quarter. Elevation Point Wealth Partners LLC bought a new stake in Ares Management during the 2nd quarter worth approximately $35,000. Redmont Wealth Advisors LLC bought a new stake in Ares Management during the 3rd quarter worth approximately $40,000. Washington Trust Advisors Inc. purchased a new stake in Ares Management in the 3rd quarter worth approximately $50,000. Finally, First Horizon Corp bought a new position in Ares Management in the 3rd quarter valued at $51,000. 50.03% of the stock is currently owned by hedge funds and other institutional investors.

Ares Management Stock Performance

Ares Management stock opened at $108.91 on Tuesday. The company has a market capitalization of $35.88 billion, a PE ratio of 64.44, a P/E/G ratio of 0.69 and a beta of 1.56. Ares Management Corporation has a twelve month low of $106.02 and a twelve month high of $195.26. The firm has a fifty day simple moving average of $143.93 and a two-hundred day simple moving average of $155.76. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.86.

Ares Management (NYSE:ARES) last posted its quarterly earnings results on Thursday, February 5th. The asset manager reported $1.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.71 by ($0.26). Ares Management had a return on equity of 19.04% and a net margin of 9.41%.The company had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.38 billion. During the same quarter in the previous year, the business earned $0.55 earnings per share. Research analysts expect that Ares Management Corporation will post 5.28 EPS for the current year.

Ares Management Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 17th will be issued a dividend of $1.35 per share. The ex-dividend date is Tuesday, March 17th. This represents a $5.40 dividend on an annualized basis and a yield of 5.0%. This is an increase from Ares Management’s previous quarterly dividend of $0.84. Ares Management’s dividend payout ratio (DPR) is currently 265.09%.

Insiders Place Their Bets

In other news, Director Judy D. Olian purchased 480 shares of the company’s stock in a transaction on Friday, February 20th. The stock was acquired at an average price of $124.43 per share, with a total value of $59,726.40. Following the transaction, the director directly owned 29,734 shares of the company’s stock, valued at approximately $3,699,801.62. This represents a 1.64% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ashish Bhutani acquired 10,000 shares of the firm’s stock in a transaction on Friday, February 6th. The stock was purchased at an average price of $126.61 per share, for a total transaction of $1,266,100.00. Following the transaction, the director directly owned 34,071 shares of the company’s stock, valued at approximately $4,313,729.31. This trade represents a 41.54% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 0.52% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on ARES shares. Raymond James Financial upgraded Ares Management from a “market perform” rating to a “strong-buy” rating and set a $157.00 price objective on the stock in a research report on Monday, February 9th. Deutsche Bank Aktiengesellschaft upgraded Ares Management from a “hold” rating to a “buy” rating and decreased their target price for the stock from $182.00 to $155.00 in a research note on Friday, February 6th. Oppenheimer lowered their price target on Ares Management from $224.00 to $215.00 and set an “outperform” rating on the stock in a report on Friday, February 6th. Wall Street Zen lowered Ares Management from a “hold” rating to a “sell” rating in a report on Saturday, February 28th. Finally, Barclays lowered their target price on shares of Ares Management from $222.00 to $190.00 and set an “overweight” rating on the stock in a research note on Friday, February 6th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $182.67.

Ares Management 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.