Ares Management Corporation $ARES Shares Sold by Frank Rimerman Advisors LLC

Frank Rimerman Advisors LLC decreased its stake in shares of Ares Management Corporation (NYSE:ARES) by 17.6% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,490 shares of the asset manager’s stock after selling 956 shares during the quarter. Frank Rimerman Advisors LLC’s holdings in Ares Management were worth $778,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of ARES. Financial Network Wealth Advisors LLC purchased a new position in shares of Ares Management during the 1st quarter worth $31,000. Banque Transatlantique SA acquired a new stake in Ares Management during the first quarter worth about $39,000. Ameritas Advisory Services LLC purchased a new position in Ares Management during the second quarter worth about $43,000. SouthState Corp acquired a new position in Ares Management in the 1st quarter valued at about $48,000. Finally, GW&K Investment Management LLC boosted its holdings in Ares Management by 69.5% in 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 last quarter. 50.03% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $215.00 price target on shares of Ares Management in a research report on Monday, September 29th. Bank of America raised their target price on Ares Management from $196.00 to $197.00 and gave the stock a “buy” rating in a research note on Friday, October 3rd. JMP Securities increased their price target on Ares Management from $195.00 to $205.00 and gave the stock a “market outperform” rating in a report on Wednesday, August 6th. Morgan Stanley cut their price objective on 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. Finally, Cfra Research raised shares of Ares Management to a “moderate buy” rating in a research report on Monday, August 4th. Thirteen investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $187.46.

Ares Management Trading Up 0.3%

Shares of NYSE ARES opened at $142.49 on Wednesday. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.64. The stock has a market capitalization of $46.58 billion, a PE ratio of 82.37, a PEG ratio of 1.19 and a beta of 1.45. Ares Management Corporation has a twelve month low of $110.63 and a twelve month high of $200.49. The stock has a fifty day simple moving average of $157.02 and a 200-day simple moving average of $168.87.

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

Ares Management Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Wednesday, December 17th will be issued 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 2.4%. Ares Management’s payout ratio is 192.27%.

Insiders Place Their Bets

In other Ares Management news, Chairman Antony P. Ressler sold 128,837 shares of the stock in a transaction that occurred on Wednesday, September 10th. The shares were sold at an average price of $178.30, for a total transaction of $22,971,637.10. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Over the last quarter, insiders have sold 2,115,877 shares of company stock worth $377,766,128. 36.86% of the stock is owned by corporate insiders.

Ares Management 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.