1,327 Shares in Ares Management Corporation $ARES Purchased by Yarger Wealth Strategies LLC

Yarger Wealth Strategies LLC acquired a new position in shares of Ares Management Corporation (NYSE:ARES) in the 2nd quarter, Holdings Channel.com reports. The firm acquired 1,327 shares of the asset manager’s stock, valued at approximately $230,000.

Several other institutional investors and hedge funds have also bought and sold shares of ARES. Redmont Wealth Advisors LLC bought a new stake in Ares Management during the first quarter worth about $28,000. Financial Network Wealth Advisors LLC bought a new position in shares of Ares Management in the first quarter worth about $31,000. Rakuten Securities Inc. lifted its holdings in shares of Ares Management by 3,262.5% in the first quarter. Rakuten Securities Inc. now owns 269 shares of the asset manager’s stock worth $39,000 after acquiring an additional 261 shares during the last quarter. Banque Transatlantique SA bought a new position in shares of Ares Management in the first quarter worth about $39,000. Finally, Ameritas Advisory Services LLC bought a new position in shares of Ares Management in the second quarter worth about $43,000. Institutional investors own 50.03% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on ARES. JMP Securities increased their target price on shares of Ares Management from $195.00 to $205.00 and gave the stock a “market outperform” rating in a report on Wednesday, August 6th. Royal Bank Of Canada reissued an “outperform” rating and issued a $215.00 target price on shares of Ares Management in a report on Monday, September 29th. BMO Capital Markets began coverage on shares of Ares Management in a report on Friday, October 3rd. They issued a “market perform” rating and a $156.00 target price for the company. Wells Fargo & Company increased their target price on shares of Ares Management from $189.00 to $202.00 and gave the stock an “overweight” rating in a report on Friday, July 11th. Finally, Raymond James Financial began coverage on shares of Ares Management in a report on Monday, July 28th. They issued a “market perform” rating for the company. Thirteen analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $180.00.

Ares Management Stock Performance

Ares Management stock opened at $140.84 on Monday. The business has a 50 day moving average of $175.26 and a 200-day moving average of $167.33. Ares Management Corporation has a 1 year low of $110.63 and a 1 year high of $200.49. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.08 and a quick ratio of 1.08. The company has a market capitalization of $46.01 billion, a P/E ratio of 81.41, a P/E/G ratio of 1.10 and a beta of 1.43.

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

Ares Management Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th were given a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend was Tuesday, September 16th. Ares Management’s dividend payout ratio is currently 258.96%.

Insiders Place Their Bets

In other Ares Management news, Chairman Antony P. Ressler sold 128,837 shares of the stock in a transaction that occurred on Wednesday, September 10th. The shares were sold at an average price of $178.30, for a total transaction of $22,971,637.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Over the last three months, insiders have sold 2,590,000 shares of company stock worth $464,430,639. Corporate insiders own 0.52% of the company’s stock.

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.