Jackson Square Capital LLC Invests $1.02 Million in Ares Management Corporation $ARES

Jackson Square Capital LLC acquired a new position in Ares Management Corporation (NYSE:ARES) in the second quarter, HoldingsChannel.com reports. The institutional investor acquired 5,900 shares of the asset manager’s stock, valued at approximately $1,022,000.

A number of other hedge funds have also recently made changes to their positions in ARES. Focus Partners Wealth bought a new position in shares of Ares Management in the fourth quarter worth about $292,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Ares Management by 13.8% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,274 shares of the asset manager’s stock worth $226,000 after acquiring an additional 154 shares during the period. Man Group plc boosted its stake in shares of Ares Management by 39.2% in the fourth quarter. Man Group plc now owns 26,400 shares of the asset manager’s stock worth $4,674,000 after acquiring an additional 7,432 shares during the period. Sherbrooke Park Advisers LLC bought a new position in shares of Ares Management in the fourth quarter worth about $207,000. Finally, Toronto Dominion Bank boosted its stake in shares of Ares Management by 10.7% in the fourth quarter. Toronto Dominion Bank now owns 25,175 shares of the asset manager’s stock worth $4,456,000 after acquiring an additional 2,425 shares during the period. Institutional investors own 50.03% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on ARES. JMP Securities upped their price objective on Ares Management from $195.00 to $205.00 and gave the stock a “market outperform” rating in a research note on Wednesday, August 6th. Royal Bank Of Canada upped their price objective on Ares Management from $195.00 to $215.00 and gave the stock an “outperform” rating in a research note on Monday, August 18th. Barclays increased their price target on Ares Management from $182.00 to $200.00 and gave the company an “overweight” rating in a research note on Thursday, July 10th. Citigroup reissued an “outperform” rating on shares of Ares Management in a research note on Monday, July 14th. Finally, Raymond James Financial began coverage on Ares Management in a research note on Monday, July 28th. They set a “market perform” rating for the company. Thirteen analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, Ares Management presently has an average rating of “Moderate Buy” and an average target price of $182.73.

Insider Buying and Selling at Ares Management

In other Ares Management news, CEO Michael J. Arougheti sold 136,516 shares of the firm’s 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 transaction, the chief executive officer directly owned 311,728 shares in the company, valued at $56,965,174.72. This trade represents a 30.46% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Chairman Antony P. Ressler sold 196,197 shares of the firm’s 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 owned 1,424,538 shares in the company, valued at $254,693,149.02. The trade was a 12.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,590,000 shares of company stock worth $464,430,639 over the last 90 days. 36.86% of the stock is currently owned by company insiders.

Ares Management Trading Up 0.3%

Shares of NYSE ARES opened at $179.13 on Thursday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.08 and a current ratio of 1.08. The business’s 50 day moving average price is $182.41 and its 200-day moving average price is $165.86. Ares Management Corporation has a fifty-two week low of $110.63 and a fifty-two week high of $200.49. The company has a market cap of $58.52 billion, a price-to-earnings ratio of 103.54, a PEG ratio of 1.40 and a beta of 1.44.

Ares Management (NYSE:ARES) last issued its quarterly earnings results on Friday, August 1st. The asset manager reported $1.03 earnings per share for the quarter, missing the consensus estimate of $1.15 by ($0.12). Ares Management had a return on equity of 15.81% and a net margin of 9.47%.The business had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.02 billion. During the same quarter in the previous year, the company posted $0.99 earnings per share. On average, sell-side analysts expect that Ares Management Corporation will post 5.28 earnings per share for the current year.

Ares Management Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th will be issued a $1.12 dividend. This represents a $4.48 annualized dividend and a dividend yield of 2.5%. The ex-dividend date is Tuesday, September 16th. Ares Management’s dividend payout ratio is presently 258.96%.

About Ares Management

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.