Segall Bryant & Hamill LLC Sells 28,933 Shares of Ares Management Corporation $ARES

Segall Bryant & Hamill LLC lessened its holdings in Ares Management Corporation (NYSE:ARES) by 71.4% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 11,584 shares of the asset manager’s stock after selling 28,933 shares during the quarter. Segall Bryant & Hamill LLC’s holdings in Ares Management were worth $1,264,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of ARES. Vanguard Group Inc. raised its position in shares of Ares Management by 20.2% in the fourth quarter. Vanguard Group Inc. now owns 26,050,425 shares of the asset manager’s stock valued at $4,210,530,000 after buying an additional 4,373,955 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in Ares Management by 26.3% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 5,705,599 shares of the asset manager’s stock worth $922,196,000 after buying an additional 1,187,174 shares in the last quarter. Geode Capital Management LLC increased its stake in Ares Management by 55.7% during the 4th quarter. Geode Capital Management LLC now owns 5,489,004 shares of the asset manager’s stock worth $883,716,000 after acquiring an additional 1,963,460 shares during the period. Capital International Investors raised its holdings in Ares Management by 0.3% in the 4th quarter. Capital International Investors now owns 4,257,710 shares of the asset manager’s stock valued at $688,176,000 after acquiring an additional 14,516 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its position in shares of Ares Management by 4.4% during the 1st quarter. Principal Financial Group Inc. now owns 4,009,291 shares of the asset manager’s stock valued at $437,417,000 after acquiring an additional 169,598 shares during the period. 50.03% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently commented on ARES. Citigroup restated a “market outperform” rating on shares of Ares Management in a research report on Monday. BMO Capital Markets boosted their target price on shares of Ares Management from $128.00 to $134.00 and gave the company a “market perform” rating in a research report on Monday. Wall Street Zen downgraded shares of Ares Management from a “hold” rating to a “sell” rating in a report on Saturday, July 4th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $144.00 price target on shares of Ares Management in a research report on Monday. Finally, Citizens Jmp lowered their price objective on shares of Ares Management from $190.00 to $160.00 and set a “market outperform” rating for the company in a research report on Thursday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $159.73.

Ares Management Stock Down 2.0%

Shares of NYSE ARES opened at $140.04 on Thursday. The company has a market cap of $46.19 billion, a price-to-earnings ratio of 64.24, a PEG ratio of 1.27 and a beta of 1.49. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.96. Ares Management Corporation has a 12 month low of $95.80 and a 12 month high of $195.26. The stock has a 50-day moving average price of $124.71 and a two-hundred day moving average price of $122.99.

Ares Management (NYSE:ARES) last announced its quarterly earnings results on Friday, July 31st. The asset manager reported $1.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.28 by $0.01. The company had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.27 billion. Ares Management had a net margin of 10.63% and a return on equity of 25.47%. The firm’s revenue was up 5.8% on a year-over-year basis. During the same period in the previous year, the firm posted $1.03 EPS. As a group, analysts forecast that Ares Management Corporation will post 5.97 earnings per share for the current fiscal year.

Ares Management Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 16th will be paid a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date of this dividend is Wednesday, September 16th. Ares Management’s payout ratio is presently 247.71%.

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.