Wealth Alliance LLC Increases Stake in Ares Management Corporation $ARES

Wealth Alliance LLC lifted its holdings in shares of Ares Management Corporation (NYSE:ARES) by 30.6% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,388 shares of the asset manager’s stock after acquiring an additional 1,027 shares during the period. Wealth Alliance LLC’s holdings in Ares Management were worth $760,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Nisa Investment Advisors LLC increased its position in Ares Management by 64.6% during the 1st quarter. Nisa Investment Advisors LLC now owns 1,350 shares of the asset manager’s stock worth $198,000 after purchasing an additional 530 shares in the last quarter. Allworth Financial LP lifted its position in shares of Ares Management by 22.9% in the 1st quarter. Allworth Financial LP now owns 1,137 shares of the asset manager’s stock worth $174,000 after buying an additional 212 shares during the last quarter. CWM LLC lifted its position in Ares Management by 9.6% in the 1st quarter. CWM LLC now owns 2,950 shares of the asset manager’s stock valued at $432,000 after purchasing an additional 258 shares during the last quarter. Signaturefd LLC boosted its stake in Ares Management by 15.5% during the 1st quarter. Signaturefd LLC now owns 2,519 shares of the asset manager’s stock valued at $369,000 after purchasing an additional 338 shares in the last quarter. Finally, Apollon Wealth Management LLC boosted its stake in shares of Ares Management by 2.3% during the 1st quarter. Apollon Wealth Management LLC now owns 21,754 shares of the asset manager’s stock worth $3,189,000 after acquiring an additional 491 shares in the last quarter. Hedge funds and other institutional investors own 50.03% of the company’s stock.

Analyst Ratings Changes

ARES has been the subject of several research reports. BMO Capital Markets started coverage on Ares Management in a report on Friday, October 3rd. They set a “market perform” rating and a $156.00 price target for the company. Citigroup restated a “market outperform” rating on shares of Ares Management in a research note on Tuesday, October 21st. TD Cowen lifted their target price on shares of Ares Management from $175.00 to $197.00 and gave the stock a “buy” rating in a report on Tuesday, November 4th. Barclays reduced their target price 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, Bank of America raised their target price on shares of Ares Management from $196.00 to $197.00 and gave the stock a “buy” rating in a research note on Friday, October 3rd. Thirteen analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, Ares Management currently has an average rating of “Moderate Buy” and an average target price of $187.46.

Insider Activity at Ares Management

In other news, Chairman Antony P. Ressler sold 128,837 shares of the firm’s stock in a transaction dated Wednesday, September 10th. The shares were sold at an average price of $178.30, for a total value of $22,971,637.10. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders have sold 2,590,000 shares of company stock valued at $464,430,639 in the last ninety days. 0.52% of the stock is owned by corporate insiders.

Ares Management Stock Down 2.0%

Ares Management stock traded down $3.08 during midday trading on Thursday, reaching $150.61. The company’s stock had a trading volume of 63,978 shares, compared to its average volume of 1,696,150. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.08 and a quick ratio of 1.08. The stock’s 50-day simple moving average is $159.60 and its 200-day simple moving average is $169.02. 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 $49.21 billion, a P/E ratio of 86.90, a PEG ratio of 1.19 and a beta of 1.45.

Ares Management (NYSE:ARES) last announced its quarterly earnings results on Monday, November 3rd. The asset manager reported $1.19 earnings per share for the quarter, topping the consensus estimate of $1.14 by $0.05. Ares Management had a return on equity of 15.81% and a net margin of 9.47%.The company had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same period last year, the firm earned $0.55 EPS. On average, sell-side analysts expect that Ares Management Corporation will post 5.28 EPS for the current year.

Ares Management Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 17th will be issued a dividend of $0.8438 per share. The ex-dividend date of this dividend 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 presently 192.27%.

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.