CVA Family Office LLC Increases Stock Position in Ares Management Corporation $ARES

CVA Family Office LLC lifted its holdings in Ares Management Corporation (NYSE:ARES) by 92.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 453 shares of the asset manager’s stock after buying an additional 218 shares during the quarter. CVA Family Office LLC’s holdings in Ares Management were worth $78,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of ARES. Cambridge Investment Research Advisors Inc. increased its stake in shares of Ares Management by 40.7% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 7,960 shares of the asset manager’s stock valued at $1,167,000 after purchasing an additional 2,302 shares in the last quarter. Oppenheimer Asset Management Inc. boosted its position in shares of Ares Management by 17.5% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 5,798 shares of the asset manager’s stock worth $850,000 after purchasing an additional 865 shares in the last quarter. Bessemer Group Inc. grew its stake in shares of Ares Management by 1.8% in the 1st quarter. Bessemer Group Inc. now owns 4,360 shares of the asset manager’s stock worth $639,000 after buying an additional 78 shares during the last quarter. Sequoia Financial Advisors LLC grew its stake in shares of Ares Management by 4.3% in the 1st quarter. Sequoia Financial Advisors LLC now owns 3,112 shares of the asset manager’s stock worth $456,000 after buying an additional 127 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. bought a new position in Ares Management during the 1st quarter valued at approximately $667,000. 50.03% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Ares Management

In other news, CEO Michael J. Arougheti sold 136,516 shares of the firm’s stock in a transaction on Tuesday, August 19th. The stock was 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 trade represents a 30.46% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Chairman Antony P. Ressler sold 196,197 shares of the company’s stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $178.79, for a total value of $35,078,061.63. Following the sale, the chairman owned 1,424,538 shares of the company’s stock, 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. Insiders have sold a total of 2,590,000 shares of company stock worth $464,430,639 over the last three months. Insiders own 0.52% of the company’s stock.

Ares Management Price Performance

Shares of NYSE:ARES opened at $149.42 on Monday. 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 firm has a market cap of $48.82 billion, a price-to-earnings ratio of 86.37, a price-to-earnings-growth ratio of 1.18 and a beta of 1.43. The business has a 50-day simple moving average of $166.89 and a two-hundred day simple moving average of $168.14. Ares Management Corporation has a fifty-two week low of $110.63 and a fifty-two week high of $200.49.

Ares Management (NYSE:ARES) last announced its quarterly earnings results on Friday, August 1st. The asset manager reported $1.03 EPS for the quarter, missing analysts’ consensus estimates of $1.15 by ($0.12). The company had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.02 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 earned $0.99 earnings per share. On average, analysts expect that Ares Management Corporation will post 5.28 earnings per share for the current year.

Ares Management Announces Dividend

The business also recently announced 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 dividend on an annualized basis and a yield of 3.0%. Ares Management’s payout ratio is currently 258.96%.

Analyst Ratings Changes

ARES has been the topic of several analyst reports. Wells Fargo & Company boosted their target price on Ares Management from $189.00 to $202.00 and gave the stock an “overweight” rating in a report on Friday, July 11th. Bank of America lifted their price target on Ares Management from $196.00 to $197.00 and gave the stock a “buy” rating in a research report on Friday, October 3rd. Morgan Stanley dropped their price target on shares of Ares Management from $178.00 to $175.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 21st. Barclays reduced their price objective on shares of Ares Management from $200.00 to $187.00 and set an “overweight” rating for the company in a research note on Wednesday, October 8th. Finally, Citigroup reaffirmed a “market outperform” rating on shares of Ares Management in a report on Tuesday, October 21st. Thirteen equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $181.93.

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.