Ares Management Corporation (NYSE:ARES) Shares Sold by LRI Investments LLC

LRI Investments LLC decreased its holdings in shares of Ares Management Corporation (NYSE:ARES) by 8.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,382,041 shares of the asset manager’s stock after selling 217,135 shares during the quarter. Ares Management comprises 29.9% of LRI Investments LLC’s holdings, making the stock its largest holding. LRI Investments LLC owned approximately 0.76% of Ares Management worth $349,231,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. CWM LLC grew its stake in shares of Ares Management by 9.6% in the first quarter. CWM LLC now owns 2,950 shares of the asset manager’s stock valued at $432,000 after buying an additional 258 shares in the last quarter. Stephens Inc. AR grew its stake in shares of Ares Management by 3.3% in the first quarter. Stephens Inc. AR now owns 57,157 shares of the asset manager’s stock valued at $8,380,000 after buying an additional 1,850 shares in the last quarter. Xponance Inc. grew its stake in shares of Ares Management by 1.6% in the first quarter. Xponance Inc. now owns 37,353 shares of the asset manager’s stock valued at $5,476,000 after buying an additional 580 shares in the last quarter. Round Rock Advisors LLC grew its stake in shares of Ares Management by 120.2% in the first quarter. Round Rock Advisors LLC now owns 2,869 shares of the asset manager’s stock valued at $421,000 after buying an additional 1,566 shares in the last quarter. Finally, Allworth Financial LP grew its stake in shares of Ares Management by 22.9% in the first quarter. Allworth Financial LP now owns 1,137 shares of the asset manager’s stock valued at $174,000 after buying an additional 212 shares in the last quarter. Institutional investors and hedge funds own 50.03% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Morgan Stanley dropped their price objective on Ares Management from $197.00 to $152.00 and set an “equal weight” rating for the company in a research note on Monday, April 14th. JMP Securities lifted their price target on Ares Management from $165.00 to $185.00 and gave the stock a “market outperform” rating in a report on Thursday, May 8th. Oppenheimer downgraded Ares Management from an “outperform” rating to a “market perform” rating in a report on Thursday, May 15th. Bank of America reduced their target price on Ares Management from $221.00 to $201.00 and set a “buy” rating for the company in a report on Friday, April 4th. Finally, Barclays boosted their price target on Ares Management from $182.00 to $200.00 and gave the company an “overweight” rating in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, Ares Management currently has an average rating of “Moderate Buy” and an average target price of $176.88.

Ares Management Stock Performance

NYSE ARES opened at $177.40 on Friday. The business’s 50 day moving average is $168.99 and its two-hundred day moving average is $166.38. The stock has a market capitalization of $57.94 billion, a price-to-earnings ratio of 104.35, a PEG ratio of 1.45 and a beta of 1.37. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.61. Ares Management Corporation has a 12-month low of $110.63 and a 12-month high of $200.49.

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

Ares Management Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 16th were paid a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a yield of 2.53%. The ex-dividend date was Monday, June 16th. Ares Management’s payout ratio is currently 263.53%.

Insider Activity at Ares Management

In other Ares Management news, insider David B. Kaplan sold 33,145 shares of the stock in a transaction on Friday, May 30th. The stock was sold at an average price of $165.12, for a total transaction of $5,472,902.40. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Chairman Bennett Rosenthal sold 85,000 shares of the company’s 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. In the last 90 days, insiders have sold 873,145 shares of company stock valued at $146,204,353. 36.86% of the stock is owned by corporate insiders.

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.