Ares Management Corporation $ARES Shares Sold by Brookwood Investment Group LLC

Brookwood Investment Group LLC decreased its stake in Ares Management Corporation (NYSE:ARES) by 5.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,667 shares of the asset manager’s stock after selling 164 shares during the period. Brookwood Investment Group LLC’s holdings in Ares Management were worth $462,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. CVA Family Office LLC boosted its position in shares of Ares Management by 92.8% in the second quarter. CVA Family Office LLC now owns 453 shares of the asset manager’s stock worth $78,000 after buying an additional 218 shares during the period. AG2R LA Mondiale Gestion D Actifs boosted its position in shares of Ares Management by 5.7% in 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 boosted its position in shares of Ares Management by 15.6% in the second quarter. State of New Jersey Common Pension Fund D now owns 67,253 shares of the asset manager’s stock worth $11,648,000 after buying an additional 9,075 shares during the period. Sumitomo Mitsui Trust Group Inc. boosted its position in shares of Ares Management by 8.7% in the second quarter. Sumitomo Mitsui Trust Group Inc. now owns 452,396 shares of the asset manager’s stock worth $78,355,000 after buying an additional 36,139 shares during the period. Finally, Asset Management One Co. Ltd. boosted its position in shares of Ares Management by 9.4% in the second quarter. Asset Management One Co. Ltd. now owns 81,032 shares of the asset manager’s stock worth $14,035,000 after buying an additional 6,945 shares during the period. Hedge funds and other institutional investors own 50.03% of the company’s stock.

Ares Management Trading Up 1.0%

Shares of NYSE ARES opened at $150.85 on Tuesday. The stock’s 50 day moving average price is $166.12 and its two-hundred day moving average price is $168.20. Ares Management Corporation has a 52-week low of $110.63 and a 52-week high of $200.49. The stock has a market capitalization of $49.28 billion, a P/E ratio of 87.20, a PEG ratio of 1.18 and a beta of 1.43. 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 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). 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 analyst estimates of $1.02 billion. During the same quarter in the previous year, the company earned $0.99 EPS. On average, analysts anticipate that Ares Management Corporation will post 5.28 earnings per share for the current fiscal year.

Ares Management Announces Dividend

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

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Citigroup reaffirmed a “market outperform” rating on shares of Ares Management in a research report on Tuesday, October 21st. Bank of America increased their price target on Ares Management from $196.00 to $197.00 and gave the company a “buy” rating in a report on Friday, October 3rd. Weiss Ratings reissued a “hold (c)” rating on shares of Ares Management in a report on Tuesday, October 14th. BMO Capital Markets started coverage on Ares Management in a report on Friday, October 3rd. They issued a “market perform” rating and a $156.00 price target for the company. Finally, JMP Securities increased 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 assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $181.93.

Insider Transactions at Ares Management

In other news, Chairman Antony P. Ressler sold 128,837 shares of the stock in a transaction that occurred on Wednesday, September 10th. The stock was sold at an average price of $178.30, for a total transaction of $22,971,637.10. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders sold a total of 2,590,000 shares of company stock worth $464,430,639 in the last 90 days. Corporate insiders own 36.86% of the company’s stock.

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.