Vaughan Nelson Investment Management L.P. Has $16.34 Million Holdings in Ares Management Corporation $ARES

Vaughan Nelson Investment Management L.P. boosted its position in Ares Management Corporation (NYSE:ARES) by 192.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 94,342 shares of the asset manager’s stock after buying an additional 62,134 shares during the quarter. Vaughan Nelson Investment Management L.P.’s holdings in Ares Management were worth $16,340,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. NBC Securities Inc. grew its position in Ares Management by 114,500.0% in the 1st quarter. NBC Securities Inc. now owns 1,146 shares of the asset manager’s stock worth $168,000 after purchasing an additional 1,145 shares during the last quarter. Procyon Advisors LLC grew its position in Ares Management by 10.6% in the 1st quarter. Procyon Advisors LLC now owns 4,628 shares of the asset manager’s stock worth $678,000 after purchasing an additional 444 shares during the last quarter. Portside Wealth Group LLC grew its position in Ares Management by 6.5% in the 1st quarter. Portside Wealth Group LLC now owns 7,820 shares of the asset manager’s stock worth $1,146,000 after purchasing an additional 476 shares during the last quarter. Pallas Capital Advisors LLC grew its position in Ares Management by 5.4% in the 1st quarter. Pallas Capital Advisors LLC now owns 29,019 shares of the asset manager’s stock worth $4,255,000 after purchasing an additional 1,474 shares during the last quarter. Finally, Harbor Capital Advisors Inc. grew its position in Ares Management by 43.8% in the 1st quarter. Harbor Capital Advisors Inc. now owns 3,949 shares of the asset manager’s stock worth $579,000 after purchasing an additional 1,203 shares during the last quarter. 50.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Michael J. Arougheti sold 136,516 shares of Ares Management stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $182.74, for a total transaction of $24,946,933.84. Following the completion of the transaction, the chief executive officer directly owned 311,728 shares of the company’s stock, valued at $56,965,174.72. This trade represents a 30.46% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Antony P. Ressler sold 196,197 shares of Ares Management stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $178.79, for a total transaction of $35,078,061.63. Following the transaction, the chairman directly owned 1,424,538 shares of the company’s stock, valued at $254,693,149.02. This represents a 12.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,590,000 shares of company stock valued at $464,430,639 over the last three months. 36.86% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Keefe, Bruyette & Woods raised their price target on shares of Ares Management from $193.00 to $203.00 and gave the stock an “outperform” rating in a research report on Monday, August 4th. Bank of America raised their price target on shares of Ares Management from $196.00 to $197.00 and gave the stock a “buy” rating in a research report on Friday. Barclays raised their price target on shares of Ares Management from $182.00 to $200.00 and gave the stock an “overweight” rating in a research report on Thursday, July 10th. Raymond James Financial started coverage on shares of Ares Management in a research report on Monday, July 28th. They issued a “market perform” rating on the stock. Finally, Wells Fargo & Company lifted their target price on shares of Ares Management from $189.00 to $202.00 and gave the company an “overweight” rating in a research report on Friday, July 11th. Thirteen analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, Ares Management presently has a consensus rating of “Moderate Buy” and an average target price of $180.81.

Ares Management Trading Up 1.1%

Shares of ARES stock opened at $152.31 on Friday. Ares Management Corporation has a 12-month low of $110.63 and a 12-month high of $200.49. The company has a market capitalization of $49.76 billion, a P/E ratio of 88.04, a P/E/G ratio of 1.20 and a beta of 1.43. The firm has a 50-day moving average price of $179.18 and a 200 day moving average price of $167.36. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.64.

Ares Management (NYSE:ARES) last announced its quarterly earnings results 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). Ares Management had a net margin of 9.47% and a return on equity of 15.81%. The firm had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.02 billion. During the same period in the prior year, the business earned $0.99 earnings per share. Research analysts forecast that Ares Management Corporation will post 5.28 earnings per share for the current fiscal year.

Ares Management Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th were issued a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend was Tuesday, September 16th. Ares Management’s dividend payout ratio (DPR) is currently 258.96%.

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.