1,300 Shares in Ares Management Corporation $ARES Bought by Xcel Wealth Management LLC

Xcel Wealth Management LLC purchased a new stake in Ares Management Corporation (NYSE:ARES) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 1,300 shares of the asset manager’s stock, valued at approximately $225,000.

A number of other large investors also recently modified their holdings of ARES. Vanguard Group Inc. increased its position in shares of Ares Management by 2.0% in the first quarter. Vanguard Group Inc. now owns 19,189,991 shares of the asset manager’s stock valued at $2,813,445,000 after acquiring an additional 382,273 shares during the last quarter. JPMorgan Chase & Co. grew its stake in Ares Management by 0.4% in the first quarter. JPMorgan Chase & Co. now owns 8,308,330 shares of the asset manager’s stock valued at $1,218,084,000 after purchasing an additional 30,451 shares in the last quarter. Principal Financial Group Inc. grew its stake in Ares Management by 4.8% in the first quarter. Principal Financial Group Inc. now owns 3,354,032 shares of the asset manager’s stock valued at $491,735,000 after purchasing an additional 152,169 shares in the last quarter. Raymond James Financial Inc. raised its stake in shares of Ares Management by 0.3% during the 1st quarter. Raymond James Financial Inc. now owns 1,902,603 shares of the asset manager’s stock worth $278,941,000 after purchasing an additional 5,424 shares in the last quarter. Finally, Canada Pension Plan Investment Board boosted its holdings in shares of Ares Management by 5.5% in the 1st quarter. Canada Pension Plan Investment Board now owns 1,727,563 shares of the asset manager’s stock valued at $253,278,000 after buying an additional 90,101 shares during the last quarter. 50.03% of the stock is currently owned by institutional investors and hedge funds.

Ares Management Trading Down 7.1%

Shares of ARES stock opened at $168.25 on Thursday. The firm has a 50 day moving average price of $182.51 and a two-hundred day moving average price of $166.52. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.64. The company has a market capitalization of $54.97 billion, a PE ratio of 97.25, a price-to-earnings-growth ratio of 1.42 and a beta of 1.44. Ares Management Corporation has a 12-month low of $110.63 and a 12-month high of $200.49.

Ares Management (NYSE:ARES) last posted its earnings results on Friday, August 1st. The asset manager reported $1.03 EPS for the quarter, missing the consensus estimate of $1.15 by ($0.12). The firm had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.02 billion. Ares Management had a net margin of 9.47% and a return on equity of 15.81%. During the same period in the previous year, the company posted $0.99 EPS. As a group, analysts predict that Ares Management Corporation will post 5.28 earnings per share for the current year.

Ares Management Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th will be issued a dividend of $1.12 per share. The ex-dividend date of this dividend is Tuesday, September 16th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 2.7%. Ares Management’s dividend payout ratio (DPR) is currently 258.96%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on ARES shares. Barclays boosted their target price on shares of Ares Management from $182.00 to $200.00 and gave the stock an “overweight” rating in a report on Thursday, July 10th. Cfra Research upgraded shares of Ares Management to a “moderate buy” rating in a research note on Monday, August 4th. Citigroup reiterated an “outperform” rating on shares of Ares Management in a research note on Monday, July 14th. Royal Bank Of Canada boosted their price target on Ares Management from $195.00 to $215.00 and gave the stock an “outperform” rating in a research report on Monday, August 18th. Finally, Raymond James Financial assumed coverage on Ares Management in a research note on Monday, July 28th. They issued a “market perform” rating on the stock. Thirteen equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $182.73.

Insider Buying and Selling at Ares Management

In other news, Chairman Antony P. Ressler sold 128,837 shares of the business’s stock in a transaction dated Wednesday, September 10th. The shares were sold at an average price of $178.30, for a total value of $22,971,637.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold a total of 2,590,000 shares of company stock worth $464,430,639 over the last three months. 36.86% of the stock is currently owned by company insiders.

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.