Ares Management Corporation $ARES Shares Sold by Atria Wealth Solutions Inc.

Atria Wealth Solutions Inc. lessened its holdings in Ares Management Corporation (NYSE:ARES) by 71.1% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 1,214 shares of the asset manager’s stock after selling 2,984 shares during the period. Atria Wealth Solutions Inc.’s holdings in Ares Management were worth $211,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Redmont Wealth Advisors LLC acquired a new position in Ares Management in the 1st quarter worth approximately $28,000. Financial Network Wealth Advisors LLC purchased a new stake in Ares Management in the 1st quarter worth approximately $31,000. Ameritas Advisory Services LLC purchased a new stake in Ares Management in the 2nd quarter worth approximately $43,000. Banque Transatlantique SA purchased a new stake in Ares Management in the 1st quarter worth approximately $39,000. Finally, SouthState Corp purchased a new stake in Ares Management in the 1st quarter worth approximately $48,000. Institutional investors and hedge funds own 50.03% of the company’s stock.

Ares Management Price Performance

Ares Management stock opened at $150.11 on Thursday. Ares Management Corporation has a 52-week low of $110.63 and a 52-week high of $200.49. The firm has a market capitalization of $49.04 billion, a price-to-earnings ratio of 86.77, a PEG ratio of 1.19 and a beta of 1.43. The company has a fifty day simple moving average of $168.51 and a 200-day simple moving average of $167.31. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.64.

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

Ares Management Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Investors 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 dividend yield of 3.0%. The ex-dividend date of this dividend was Tuesday, September 16th. Ares Management’s dividend payout ratio (DPR) is presently 258.96%.

Analyst Upgrades and Downgrades

Several research firms have commented on ARES. Oppenheimer set a $180.00 price objective on Ares Management and gave the stock an “outperform” rating in a research report on Tuesday, October 14th. Royal Bank Of Canada restated an “outperform” rating and issued a $215.00 price objective on shares of Ares Management in a research report on Monday, September 29th. Citigroup restated a “market outperform” rating on shares of Ares Management in a research report on Tuesday. Barclays lowered their price objective on Ares Management from $200.00 to $187.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 8th. Finally, Keefe, Bruyette & Woods increased their target price on Ares Management from $193.00 to $203.00 and gave the company an “outperform” rating in a research report on Monday, August 4th. Thirteen research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $181.93.

Insider Activity

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