Chilton Capital Management LLC Reduces Position in Ares Management Corporation $ARES

Chilton Capital Management LLC lowered its stake in shares of Ares Management Corporation (NYSE:ARES) by 23.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 163,575 shares of the asset manager’s stock after selling 51,084 shares during the period. Chilton Capital Management LLC owned 0.05% of Ares Management worth $28,331,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in ARES. CVA Family Office LLC grew its holdings in shares of Ares Management by 92.8% during the 2nd quarter. CVA Family Office LLC now owns 453 shares of the asset manager’s stock worth $78,000 after purchasing an additional 218 shares during the period. AG2R LA Mondiale Gestion D Actifs boosted its stake in Ares Management by 5.7% during the second quarter. AG2R LA Mondiale Gestion D Actifs now owns 8,200 shares of the asset manager’s stock worth $1,420,000 after buying an additional 440 shares during the period. State of New Jersey Common Pension Fund D raised its stake in shares of Ares Management by 15.6% in the 2nd quarter. State of New Jersey Common Pension Fund D now owns 67,253 shares of the asset manager’s stock valued at $11,648,000 after acquiring an additional 9,075 shares during the period. Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of Ares Management by 8.7% in the 2nd quarter. Sumitomo Mitsui Trust Group Inc. now owns 452,396 shares of the asset manager’s stock worth $78,355,000 after acquiring an additional 36,139 shares during the last quarter. Finally, Asset Management One Co. Ltd. boosted its position in shares of Ares Management by 9.4% during the 2nd quarter. Asset Management One Co. Ltd. now owns 81,032 shares of the asset manager’s stock worth $14,035,000 after purchasing an additional 6,945 shares during the period. 50.03% of the stock is currently owned by institutional investors and hedge funds.

Ares Management Stock Up 0.7%

ARES stock opened at $149.42 on Friday. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.64. The company’s 50 day moving average is $166.89 and its two-hundred day moving average is $167.96. The stock has a market cap of $48.82 billion, a P/E ratio of 86.37, a PEG ratio of 1.18 and a beta of 1.43. Ares Management Corporation has a twelve month low of $110.63 and a twelve month high of $200.49.

Ares Management (NYSE:ARES) last issued its quarterly earnings data on Friday, August 1st. The asset manager reported $1.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.15 by ($0.12). The firm had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.02 billion. Ares Management had a return on equity of 15.81% and a net margin of 9.47%.During the same period in the previous year, the business posted $0.99 EPS. Research analysts expect that Ares Management Corporation will post 5.28 earnings per share for the current fiscal year.

Ares Management Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th were issued a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend was Tuesday, September 16th. Ares Management’s payout ratio is presently 258.96%.

Analysts Set New Price Targets

A number of brokerages have issued reports on ARES. Raymond James Financial began coverage on Ares Management in a research report on Monday, July 28th. They issued a “market perform” rating on the stock. JMP Securities raised their target price on Ares Management from $195.00 to $205.00 and gave the company a “market outperform” rating in a report on Wednesday, August 6th. Keefe, Bruyette & Woods boosted their price target on shares of Ares Management from $193.00 to $203.00 and gave the stock an “outperform” rating in a research note on Monday, August 4th. Morgan Stanley dropped their price objective on shares of Ares Management from $178.00 to $175.00 and set an “equal weight” rating for the company in a report on Tuesday. Finally, Cfra Research raised shares of Ares Management to a “moderate buy” rating in a research report on Monday, August 4th. Thirteen research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Ares Management currently has an average rating of “Moderate Buy” and a consensus target price of $181.93.

Insiders Place Their Bets

In other news, Chairman Antony P. Ressler sold 128,837 shares of the stock in a transaction dated Wednesday, September 10th. The shares were sold at an average price of $178.30, for a total transaction of $22,971,637.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In the last ninety days, insiders have sold 2,590,000 shares of company stock worth $464,430,639. 36.86% of the stock is owned by corporate insiders.

About Ares Management

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.