Prospera Financial Services Inc Purchases 5,439 Shares of Ares Management Corporation $ARES

Prospera Financial Services Inc boosted its position in Ares Management Corporation (NYSE:ARES) by 120.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,963 shares of the asset manager’s stock after buying an additional 5,439 shares during the quarter. Prospera Financial Services Inc’s holdings in Ares Management were worth $1,594,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Creative Planning raised its stake in Ares Management by 29.6% in the second quarter. Creative Planning now owns 34,036 shares of the asset manager’s stock valued at $5,895,000 after purchasing an additional 7,776 shares in the last quarter. Principal Financial Group Inc. grew its stake in Ares Management by 2.8% in the 3rd quarter. Principal Financial Group Inc. now owns 3,534,773 shares of the asset manager’s stock worth $565,180,000 after buying an additional 94,825 shares in the last quarter. Wealth Alliance LLC increased its holdings in shares of Ares Management by 30.6% in the 2nd quarter. Wealth Alliance LLC now owns 4,388 shares of the asset manager’s stock worth $760,000 after buying an additional 1,027 shares during the last quarter. Winslow Capital Management LLC bought a new position in shares of Ares Management in the 2nd quarter worth $161,774,000. Finally, Quilter Plc raised its position in shares of Ares Management by 3.9% during the 3rd quarter. Quilter Plc now owns 666,703 shares of the asset manager’s stock valued at $106,599,000 after buying an additional 24,964 shares in the last quarter. Hedge funds and other institutional investors own 50.03% of the company’s stock.

Insider Activity

In other Ares Management news, CEO Michael J. Arougheti sold 186,197 shares of the stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $152.75, for a total value of $28,441,591.75. Following the completion of the sale, the chief executive officer owned 290,997 shares in the company, valued at approximately $44,449,791.75. This trade represents a 39.02% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Ashish Bhutani acquired 10,000 shares of the business’s stock in a transaction dated Friday, February 6th. The stock was acquired at an average price of $126.61 per share, for a total transaction of $1,266,100.00. Following the completion of the transaction, the director owned 34,071 shares in the company, valued at approximately $4,313,729.31. The trade was a 41.54% increase in their position. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders have sold 590,000 shares of company stock valued at $90,653,808. Insiders own 36.86% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on ARES. Citigroup reiterated a “market outperform” rating on shares of Ares Management in a research report on Tuesday, October 21st. TD Cowen reiterated a “buy” rating on shares of Ares Management in a report on Wednesday, January 14th. Oppenheimer reduced their price objective on Ares Management from $224.00 to $215.00 and set an “outperform” rating on the stock in a research report on Friday, February 6th. Weiss Ratings reissued a “hold (c)” rating on shares of Ares Management in a report on Monday, December 29th. Finally, The Goldman Sachs Group decreased their price target on shares of Ares Management from $189.00 to $165.00 and set a “buy” rating on the stock in a research note on Friday, February 6th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, Ares Management presently has a consensus rating of “Moderate Buy” and a consensus price target of $185.13.

Ares Management Stock Performance

Shares of ARES stock opened at $133.98 on Friday. The company has a market capitalization of $43.79 billion, a P/E ratio of 79.28, a PEG ratio of 0.81 and a beta of 1.52. Ares Management Corporation has a fifty-two week low of $110.63 and a fifty-two week high of $195.26. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.22 and a current ratio of 0.22. The stock has a 50 day moving average price of $160.37 and a two-hundred day moving average price of $163.68.

Ares Management (NYSE:ARES) last issued its earnings results on Thursday, February 5th. The asset manager reported $1.45 EPS for the quarter, missing the consensus estimate of $1.71 by ($0.26). Ares Management had a return on equity of 19.26% and a net margin of 9.41%.The firm had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.38 billion. During the same period in the previous year, the firm earned $0.55 earnings per share. Analysts expect that Ares Management Corporation will post 5.28 earnings per share for the current year.

Ares Management Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 17th will be given a $1.35 dividend. The ex-dividend date is Tuesday, March 17th. This is a positive change from Ares Management’s previous quarterly dividend of $0.84. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.0%. Ares Management’s dividend payout ratio is presently 265.09%.

Ares Management Profile

Ares Management Corporation (NYSE: ARES) is a global alternative asset manager that provides investment solutions across credit, private equity and real estate. The firm originates and manages capital across a range of strategies including direct lending, syndicated and special situations credit, private equity buyouts and growth investments, and real estate equity and debt. Ares serves institutional investors, insurance companies, pension funds, sovereign wealth funds, and high?net?worth clients through both commingled funds and bespoke managed account structures.

Within credit, Ares offers strategies spanning leveraged loans, structured credit, opportunistic and distressed debt, and specialty finance, with an emphasis on underwriting, portfolio construction and active asset management.