Apollon Wealth Management LLC Acquires 1,857 Shares of Ares Management Corporation $ARES

Apollon Wealth Management LLC increased its holdings in shares of Ares Management Corporation (NYSE:ARES) by 8.5% in the second quarter, according to its most recent filing with the SEC. The fund owned 23,611 shares of the asset manager’s stock after acquiring an additional 1,857 shares during the period. Apollon Wealth Management LLC’s holdings in Ares Management were worth $4,089,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. DSM Capital Partners LLC lifted its stake in shares of Ares Management by 0.6% during the 2nd quarter. DSM Capital Partners LLC now owns 14,080 shares of the asset manager’s stock worth $2,439,000 after acquiring an additional 87 shares during the last quarter. Aberdeen Group plc lifted its stake in shares of Ares Management by 6.0% during the 2nd quarter. Aberdeen Group plc now owns 104,631 shares of the asset manager’s stock worth $18,122,000 after acquiring an additional 5,939 shares during the last quarter. Blue Trust Inc. lifted its stake in shares of Ares Management by 27.7% during the 2nd quarter. Blue Trust Inc. now owns 5,758 shares of the asset manager’s stock worth $997,000 after acquiring an additional 1,249 shares during the last quarter. Fourpath Capital Management LLC bought a new stake in shares of Ares Management during the 2nd quarter worth approximately $204,000. Finally, Monument Capital Management bought a new stake in shares of Ares Management during the 2nd quarter worth approximately $303,000. 50.03% of the stock is owned by institutional investors.

Insider Activity

In related news, Chairman Antony P. Ressler sold 196,197 shares of the company’s stock in a transaction dated Tuesday, August 26th. The stock was 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 position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Michael J. Arougheti sold 136,516 shares of the company’s stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $182.74, for a total value of $24,946,933.84. Following the transaction, the chief executive officer directly owned 311,728 shares in the company, valued at $56,965,174.72. This represents a 30.46% 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 worth $464,430,639 over the last ninety days. 36.86% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on ARES shares. JMP Securities raised their price target 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. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Ares Management in a research report on Saturday, September 27th. Cfra Research raised Ares Management to a “moderate buy” rating in a research report on Monday, August 4th. Keefe, Bruyette & Woods lifted their target price on Ares Management from $193.00 to $203.00 and gave the company an “outperform” rating in a research report on Monday, August 4th. Finally, Wells Fargo & Company lifted their target price on Ares Management from $189.00 to $202.00 and gave the company an “overweight” rating in a research report on Friday, July 11th. Thirteen investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $180.00.

Ares Management Stock Down 4.4%

NYSE:ARES opened at $140.84 on Friday. Ares Management Corporation has a fifty-two week low of $110.63 and a fifty-two week high of $200.49. The stock has a market capitalization of $46.01 billion, a P/E ratio of 81.41, a P/E/G ratio of 1.11 and a beta of 1.43. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.08 and a current ratio of 1.08. The company’s 50-day simple moving average is $175.26 and its 200-day simple moving average is $167.20.

Ares Management (NYSE:ARES) last released its quarterly earnings results on Friday, August 1st. The asset manager reported $1.03 earnings per share for the quarter, missing analysts’ consensus estimates 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 posted $0.99 earnings per share. On average, equities analysts anticipate that Ares Management Corporation will post 5.28 earnings per share for the current fiscal year.

Ares Management Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th were issued a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date was Tuesday, September 16th. Ares Management’s dividend payout ratio (DPR) is currently 258.96%.

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.