Ares Management Corporation $ARES Stock Holdings Decreased by Catalyst Funds Management Pty Ltd

Catalyst Funds Management Pty Ltd lessened its position in shares of Ares Management Corporation (NYSE:ARES) by 22.7% during the second quarter, HoldingsChannel reports. The institutional investor owned 12,370 shares of the asset manager’s stock after selling 3,630 shares during the quarter. Catalyst Funds Management Pty Ltd’s holdings in Ares Management were worth $2,142,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Financial Network Wealth Advisors LLC acquired a new position in shares of Ares Management in the 1st quarter valued at about $31,000. Ameritas Advisory Services LLC acquired a new position in Ares Management in the second quarter valued at approximately $43,000. Banque Transatlantique SA acquired a new position in Ares Management in the first quarter valued at approximately $39,000. SouthState Corp bought a new stake in shares of Ares Management in the 1st quarter worth approximately $48,000. Finally, GW&K Investment Management LLC boosted its position in Ares Management by 69.5% during the 1st quarter. GW&K Investment Management LLC now owns 373 shares of the asset manager’s stock valued at $55,000 after purchasing an additional 153 shares during the period. 50.03% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Cowen reaffirmed a “buy” rating on shares of Ares Management in a research report on Tuesday, November 4th. JMP Securities lifted their price objective on shares of Ares Management from $195.00 to $205.00 and gave the company a “market outperform” rating in a research report on Wednesday, August 6th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $215.00 price target on shares of Ares Management in a report on Monday, September 29th. Weiss Ratings reissued a “hold (c+)” rating on shares of Ares Management in a report on Monday. Finally, Bank of America boosted their price target on Ares Management from $196.00 to $197.00 and gave the stock a “buy” rating in a research report on Friday, October 3rd. Thirteen research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, Ares Management presently has an average rating of “Moderate Buy” and an average target price of $187.46.

Ares Management Trading Up 1.8%

Ares Management stock opened at $145.22 on Thursday. The firm has a market cap of $47.47 billion, a price-to-earnings ratio of 83.94, a price-to-earnings-growth ratio of 1.19 and a beta of 1.45. Ares Management Corporation has a 1 year low of $110.63 and a 1 year high of $200.49. The firm’s 50 day moving average price is $156.36 and its two-hundred day moving average price is $168.71. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.08 and a current ratio of 1.08.

Ares Management (NYSE:ARES) last announced its earnings results on Friday, October 31st. The asset manager reported $1.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.14 by $0.05. Ares Management had a return on equity of 15.81% and a net margin of 9.47%.The company had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same period in the previous year, the firm earned $0.55 earnings per share. On average, research analysts predict that Ares Management Corporation will post 5.28 EPS for the current fiscal year.

Ares Management Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 17th will be issued a $0.8438 dividend. This represents a $3.38 annualized dividend and a dividend yield of 2.3%. The ex-dividend date is Wednesday, December 17th. Ares Management’s dividend payout ratio (DPR) is presently 192.27%.

Insider Activity at Ares Management

In related news, Chairman Antony P. Ressler sold 128,837 shares of the firm’s stock in a transaction that occurred on Wednesday, September 10th. The shares were sold at an average price of $178.30, for a total value of $22,971,637.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last three months, insiders have sold 1,989,059 shares of company stock valued at $355,167,794. 36.86% of the stock is currently owned by corporate insiders.

Ares Management Company Profile

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.