Ares Management Corporation $ARES Shares Sold by Capital Investment Counsel LLC

Capital Investment Counsel LLC cut its stake in shares of Ares Management Corporation (NYSE:ARES) by 5.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 61,440 shares of the asset manager’s stock after selling 3,394 shares during the quarter. Ares Management accounts for approximately 1.7% of Capital Investment Counsel LLC’s holdings, making the stock its 16th biggest position. Capital Investment Counsel LLC’s holdings in Ares Management were worth $10,641,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Redmont Wealth Advisors LLC acquired a new stake in shares of Ares Management during the first quarter worth $28,000. Financial Network Wealth Advisors LLC acquired a new stake in shares of Ares Management during the first quarter worth $31,000. Banque Transatlantique SA acquired a new stake in shares of Ares Management during the first quarter worth $39,000. Ameritas Advisory Services LLC acquired a new stake in shares of Ares Management during the second quarter worth $43,000. Finally, SouthState Corp acquired a new stake in shares of Ares Management during the first quarter worth $48,000. 50.03% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Ares Management

In other news, CEO Michael J. Arougheti sold 136,516 shares of Ares Management stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $182.74, for a total transaction of $24,946,933.84. Following the completion of the transaction, the chief executive officer owned 311,728 shares of the company’s stock, valued at $56,965,174.72. The trade was a 30.46% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Chairman Antony P. Ressler sold 196,197 shares of Ares Management stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $178.79, for a total value 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 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 valued at $464,430,639 in the last ninety days. Corporate insiders own 36.86% of the company’s stock.

Wall Street Analysts Forecast Growth

ARES has been the subject of several recent research reports. Cfra Research raised Ares Management to a “moderate buy” rating in a report on Monday, August 4th. BMO Capital Markets started coverage on shares of Ares Management in a report on Friday, October 3rd. They issued a “market perform” rating and a $156.00 price target for the company. Keefe, Bruyette & Woods raised their price objective on shares of Ares Management from $193.00 to $203.00 and gave the company an “outperform” rating in a research note on Monday, August 4th. Raymond James Financial started coverage on shares of Ares Management in a research report on Monday, July 28th. They set a “market perform” rating on the stock. Finally, JMP Securities lifted their price target on shares of Ares Management from $195.00 to $205.00 and gave the company a “market outperform” rating in a research report on Wednesday, August 6th. Thirteen investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $181.93.

Ares Management Trading Up 1.0%

NYSE:ARES opened at $150.85 on Tuesday. The company has a market capitalization of $49.28 billion, a PE ratio of 87.20, a price-to-earnings-growth ratio of 1.18 and a beta of 1.43. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.64. Ares Management Corporation has a 52-week low of $110.63 and a 52-week high of $200.49. The stock has a fifty day simple moving average of $166.12 and a 200-day simple moving average of $168.20.

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

Ares Management Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th were paid a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend was Tuesday, September 16th. Ares Management’s payout ratio is 258.96%.

Ares Management Company 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.