Insider Buying: Ares Management (NYSE:ARES) Director Acquires $59,726.40 in Stock

Ares Management Corporation (NYSE:ARES) Director Judy Olian bought 480 shares of Ares Management stock in a transaction dated Friday, February 20th. The shares were bought at an average cost of $124.43 per share, for a total transaction of $59,726.40. Following the completion of the transaction, the director owned 29,734 shares of the company’s stock, valued at approximately $3,699,801.62. This trade represents a 1.64% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Ares Management Stock Down 0.9%

Shares of NYSE:ARES opened at $118.07 on Friday. The business’s 50 day moving average is $151.75 and its 200 day moving average is $159.75. The stock has a market cap of $38.59 billion, a P/E ratio of 69.86, a price-to-earnings-growth ratio of 0.72 and a beta of 1.52. Ares Management Corporation has a 52-week low of $110.63 and a 52-week high of $195.26. 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 posted its quarterly earnings results on Thursday, February 5th. The asset manager reported $1.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.71 by ($0.26). The firm had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.38 billion. Ares Management had a return on equity of 19.26% and a net margin of 9.41%.During the same period in the previous year, the company posted $0.55 EPS. Sell-side analysts predict that Ares Management Corporation will post 5.28 EPS for the current year.

Ares Management Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 17th will be given a dividend of $1.35 per share. This is a positive change from Ares Management’s previous quarterly dividend of $0.84. The ex-dividend date of this dividend is Tuesday, March 17th. This represents a $5.40 dividend on an annualized basis and a yield of 4.6%. Ares Management’s payout ratio is 319.53%.

Analysts Set New Price Targets

ARES has been the topic of several research reports. Keefe, Bruyette & Woods lifted their price objective on shares of Ares Management from $188.00 to $189.00 and gave the company an “outperform” rating in a report on Tuesday, November 4th. TD Cowen reiterated a “buy” rating on shares of Ares Management in a report on Wednesday, January 14th. Raymond James Financial upgraded Ares Management from a “market perform” rating to a “strong-buy” rating and set a $157.00 price objective for the company in a research note on Monday, February 9th. Wolfe Research set a $210.00 price objective on Ares Management and gave the company an “outperform” rating in a research report on Wednesday, January 7th. Finally, Royal Bank Of Canada cut their price target on shares of Ares Management from $180.00 to $173.00 and set an “outperform” rating on the stock in a report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $182.67.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of ARES. Creative Planning grew its holdings in shares of Ares Management by 29.6% during the 2nd quarter. Creative Planning now owns 34,036 shares of the asset manager’s stock worth $5,895,000 after purchasing an additional 7,776 shares during the period. Vulcan Value Partners LLC lifted its holdings in Ares Management by 10.6% during the 3rd quarter. Vulcan Value Partners LLC now owns 1,350,249 shares of the asset manager’s stock worth $215,785,000 after buying an additional 129,368 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of Ares Management by 2.8% in the third quarter. Principal Financial Group Inc. now owns 3,534,773 shares of the asset manager’s stock valued at $565,180,000 after acquiring an additional 94,825 shares in the last quarter. Wealth Alliance LLC boosted its stake in shares of Ares Management by 30.6% in the 2nd quarter. Wealth Alliance LLC now owns 4,388 shares of the asset manager’s stock valued at $760,000 after buying an additional 1,027 shares during the period. Finally, Winslow Capital Management LLC purchased a new position in Ares Management in the second quarter worth approximately $161,774,000. Institutional investors and hedge funds own 50.03% of the company’s stock.

About Ares Management

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.