Summit Trail Advisors LLC Has $377,000 Holdings in Ares Management Corporation (NYSE:ARES)

Summit Trail Advisors LLC raised its position in Ares Management Corporation (NYSE:ARES) by 101.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,570 shares of the asset manager’s stock after purchasing an additional 1,297 shares during the quarter. Summit Trail Advisors LLC’s holdings in Ares Management were worth $377,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of Ares Management by 5.1% during the fourth quarter. Vanguard Group Inc. now owns 18,807,718 shares of the asset manager’s stock worth $3,329,530,000 after buying an additional 907,757 shares in the last quarter. Capital World Investors boosted its position in Ares Management by 2.1% during the 4th quarter. Capital World Investors now owns 10,753,779 shares of the asset manager’s stock worth $1,903,741,000 after acquiring an additional 223,919 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Ares Management by 0.4% during the 4th quarter. JPMorgan Chase & Co. now owns 8,277,879 shares of the asset manager’s stock worth $1,465,433,000 after acquiring an additional 33,700 shares in the last quarter. FMR LLC raised its holdings in shares of Ares Management by 12.8% in the fourth quarter. FMR LLC now owns 7,109,070 shares of the asset manager’s stock valued at $1,258,519,000 after purchasing an additional 807,361 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its holdings in shares of Ares Management by 1.3% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 5,126,442 shares of the asset manager’s stock valued at $907,534,000 after purchasing an additional 66,671 shares during the last quarter. Institutional investors and hedge funds own 50.03% of the company’s stock.

Ares Management Trading Up 2.0%

Shares of Ares Management stock opened at $178.20 on Thursday. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.07 and a quick ratio of 1.07. The business has a fifty day simple moving average of $165.70 and a two-hundred day simple moving average of $166.47. Ares Management Corporation has a 1 year low of $110.63 and a 1 year high of $200.49. The company has a market capitalization of $58.20 billion, a price-to-earnings ratio of 104.82, a P/E/G ratio of 1.37 and a beta of 1.37.

Ares Management (NYSE:ARES) last posted its earnings results on Monday, May 5th. The asset manager reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.94 by $0.15. Ares Management had a net margin of 9.73% and a return on equity of 16.29%. The company had revenue of $951.96 million during the quarter, compared to analysts’ expectations of $914.00 million. During the same quarter last year, the company posted $0.80 EPS. Research analysts forecast that Ares Management Corporation will post 5.28 EPS for the current year.

Ares Management Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 16th were given a dividend of $1.12 per share. The ex-dividend date of this dividend was Monday, June 16th. This represents a $4.48 annualized dividend and a yield of 2.51%. Ares Management’s dividend payout ratio (DPR) is presently 263.53%.

Insider Transactions at Ares Management

In other Ares Management news, CEO Michael J. Arougheti sold 107,500 shares of the stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $161.34, for a total transaction of $17,344,050.00. Following the transaction, the chief executive officer owned 1,400,000 shares in the company, valued at $225,876,000. This trade represents a 7.13% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Bennett Rosenthal sold 85,000 shares of Ares Management stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $168.79, for a total value of $14,347,150.00. The disclosure for this sale can be found here. Insiders sold a total of 873,145 shares of company stock worth $146,204,353 over the last quarter. Company insiders own 36.86% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Bank of America decreased their target price on shares of Ares Management from $221.00 to $201.00 and set a “buy” rating for the company in a research report on Friday, April 4th. Oppenheimer cut Ares Management from an “outperform” rating to a “market perform” rating in a report on Thursday, May 15th. Citizens Jmp raised Ares Management from a “market perform” rating to an “outperform” rating and set a $165.00 target price on the stock in a research report on Tuesday, April 8th. Wells Fargo & Company increased their price target on Ares Management from $182.00 to $189.00 and gave the company an “overweight” rating in a research report on Friday, May 23rd. Finally, Wolfe Research set a $193.00 price target on Ares Management and gave the company an “outperform” rating in a research report on Tuesday, May 6th. One research analyst has rated the stock with a sell rating, four have given a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $174.94.

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.