Klingman & Associates LLC Has $524,000 Position in Ares Management Corporation $ARES

Klingman & Associates LLC boosted its stake in shares of Ares Management Corporation (NYSE:ARES) by 14.9% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 3,028 shares of the asset manager’s stock after purchasing an additional 392 shares during the quarter. Klingman & Associates LLC’s holdings in Ares Management were worth $524,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the stock. Redmont Wealth Advisors LLC bought a new stake in shares of Ares Management during the first quarter worth $28,000. Financial Network Wealth Advisors LLC bought a new stake in shares of Ares Management during the first quarter worth $31,000. Ameritas Advisory Services LLC bought a new stake in shares of Ares Management during the second quarter worth $43,000. Banque Transatlantique SA bought a new stake in shares of Ares Management during the first quarter worth $39,000. Finally, SouthState Corp bought a new stake in shares of Ares Management during the first quarter worth $48,000. 50.03% of the stock is currently owned by institutional investors and hedge funds.

Ares Management Price Performance

Ares Management stock opened at $150.21 on Wednesday. The business’s 50-day simple moving average is $169.32 and its 200 day simple moving average is $167.43. The stock has a market cap of $49.07 billion, a price-to-earnings ratio of 86.83, a P/E/G ratio of 1.16 and a beta of 1.43. Ares Management Corporation has a 12-month low of $110.63 and a 12-month high of $200.49. 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 posted 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 during the quarter, compared to the consensus estimate of $1.02 billion. During the same quarter in the prior year, the business earned $0.99 EPS. As a group, research analysts anticipate that Ares Management Corporation will post 5.28 earnings per share for the current year.

Ares Management Dividend Announcement

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

Insider Transactions at Ares Management

In other Ares Management news, CEO Michael J. Arougheti sold 136,516 shares of the firm’s stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $182.74, for a total transaction of $24,946,933.84. Following the transaction, the chief executive officer owned 311,728 shares in the company, valued at approximately $56,965,174.72. This trade represents a 30.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Antony P. Ressler sold 196,197 shares of the firm’s stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $178.79, for a total value of $35,078,061.63. Following the transaction, the chairman owned 1,424,538 shares in the company, valued at approximately $254,693,149.02. This trade represents a 12.11% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,590,000 shares of company stock worth $464,430,639. Company insiders own 0.52% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on ARES shares. Royal Bank Of Canada restated an “outperform” rating and set a $215.00 target price on shares of Ares Management in a report on Monday, September 29th. Citigroup restated a “market outperform” rating on shares of Ares Management in a report on Tuesday. Raymond James Financial started coverage on Ares Management in a report on Monday, July 28th. They set a “market perform” rating on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Ares Management in a report on Tuesday, October 14th. Finally, JMP Securities raised their price target on Ares Management from $195.00 to $205.00 and gave the company a “market outperform” rating in a report on Wednesday, August 6th. Thirteen analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, Ares Management currently has an average rating of “Moderate Buy” and a consensus target price of $181.93.

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.