Rathbones Group PLC Sells 1,950 Shares of Ares Management Corporation $ARES

Rathbones Group PLC lowered its stake in shares of Ares Management Corporation (NYSE:ARES) by 43.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,517 shares of the asset manager’s stock after selling 1,950 shares during the quarter. Rathbones Group PLC’s holdings in Ares Management were worth $436,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Financial Network Wealth Advisors LLC bought a new stake in shares of Ares Management in the 1st quarter valued at about $31,000. Banque Transatlantique SA purchased a new stake in Ares Management during the first quarter valued at approximately $39,000. Ameritas Advisory Services LLC purchased a new stake in Ares Management during the second quarter valued at approximately $43,000. SouthState Corp acquired a new stake in Ares Management in the first quarter valued at approximately $48,000. Finally, GW&K Investment Management LLC grew its holdings in Ares Management by 69.5% in the first quarter. GW&K Investment Management LLC now owns 373 shares of the asset manager’s stock worth $55,000 after purchasing an additional 153 shares during the last quarter. 50.03% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. JMP Securities boosted their target price on Ares Management from $195.00 to $205.00 and gave the stock a “market outperform” rating in a research note on Wednesday, August 6th. Cfra Research upgraded Ares Management to a “moderate buy” rating in a research note on Monday, August 4th. Morgan Stanley decreased 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 research report on Tuesday, October 21st. Raymond James Financial initiated coverage on shares of Ares Management in a research note on Monday, July 28th. They issued a “market perform” rating for the company. Finally, Royal Bank Of Canada restated an “outperform” rating and set a $215.00 price target on shares of Ares Management in a research note on Monday, September 29th. Thirteen analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $187.46.

Ares Management Stock Up 0.3%

Shares of ARES stock opened at $153.81 on Wednesday. Ares Management Corporation has a twelve month low of $110.63 and a twelve month high of $200.49. The stock has a market cap of $50.25 billion, a P/E ratio of 88.91, a P/E/G ratio of 1.19 and a beta of 1.45. The stock has a 50 day moving average of $160.06 and a 200 day moving average of $169.12. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.64.

Ares Management (NYSE:ARES) last released its quarterly earnings data on Monday, November 3rd. The asset manager reported $1.19 EPS for the quarter, topping the consensus estimate of $1.14 by $0.05. The business had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.03 billion. Ares Management had a return on equity of 15.81% and a net margin of 9.47%.During the same quarter in the prior year, the firm posted $0.55 EPS. As a group, sell-side analysts expect that Ares Management Corporation will post 5.28 EPS for the current year.

Ares Management Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 17th will be given a $0.8438 dividend. The ex-dividend date is Wednesday, December 17th. This represents a $3.38 dividend on an annualized basis and a dividend yield of 2.2%. Ares Management’s dividend payout ratio is 192.27%.

Insider Activity

In other news, Chairman Antony P. Ressler sold 128,837 shares of the firm’s stock in a transaction dated Wednesday, September 10th. The stock was sold at an average price of $178.30, for a total transaction of $22,971,637.10. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Over the last 90 days, insiders have sold 2,590,000 shares of company stock worth $464,430,639. Corporate insiders own 0.52% of the company’s stock.

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.