EFG Asset Management North America Corp. Raises Holdings in Ares Management Corporation $ARES

EFG Asset Management North America Corp. increased its stake in Ares Management Corporation (NYSE:ARES) by 17.7% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 38,400 shares of the asset manager’s stock after purchasing an additional 5,784 shares during the quarter. Ares Management makes up approximately 0.9% of EFG Asset Management North America Corp.’s investment portfolio, making the stock its 16th biggest position. EFG Asset Management North America Corp.’s holdings in Ares Management were worth $6,642,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ARES. Vanguard Group Inc. increased its holdings in Ares Management by 2.0% in the 1st quarter. Vanguard Group Inc. now owns 19,189,991 shares of the asset manager’s stock valued at $2,813,445,000 after purchasing an additional 382,273 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Ares Management by 24.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,208,292 shares of the asset manager’s stock worth $177,148,000 after acquiring an additional 240,564 shares during the period. Strs Ohio purchased a new stake in Ares Management during the first quarter worth about $26,350,000. Westfield Capital Management Co. LP lifted its holdings in shares of Ares Management by 18.3% in the first quarter. Westfield Capital Management Co. LP now owns 1,128,415 shares of the asset manager’s stock valued at $165,437,000 after purchasing an additional 174,645 shares in the last quarter. Finally, Partners Group Holding AG raised its stake in Ares Management by 53.6% during the first quarter. Partners Group Holding AG now owns 386,336 shares of the asset manager’s stock worth $56,641,000 after purchasing an additional 134,778 shares during the period. Hedge funds and other institutional investors own 50.03% of the company’s stock.

Ares Management Stock Down 1.6%

ARES stock opened at $152.96 on Wednesday. Ares Management Corporation has a 52-week low of $110.63 and a 52-week high of $200.49. The company’s 50 day simple moving average is $162.72 and its 200-day simple moving average is $168.89. 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 firm has a market capitalization of $49.97 billion, a P/E ratio of 88.42, a P/E/G ratio of 1.19 and a beta of 1.43.

Ares Management (NYSE:ARES) last released its quarterly earnings data on Monday, November 3rd. The asset manager reported $1.19 earnings per share for the quarter, beating the consensus estimate of $1.14 by $0.05. The firm had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.03 billion. Ares Management had a net margin of 9.47% and a return on equity of 15.81%. During the same quarter in the prior year, the business earned $0.55 EPS. As a group, equities research analysts anticipate that Ares Management Corporation will post 5.28 EPS for the current year.

Ares Management Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Wednesday, December 17th will be paid a dividend of $0.8438 per share. This represents a $3.38 annualized dividend and a yield of 2.2%. The ex-dividend date is Wednesday, December 17th. Ares Management’s dividend payout ratio is presently 258.96%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Citigroup reaffirmed a “market outperform” rating on shares of Ares Management in a report on Tuesday, October 21st. Cowen reaffirmed a “buy” rating on shares of Ares Management in a report on Tuesday. Keefe, Bruyette & Woods raised their price target on shares of Ares Management from $188.00 to $189.00 and gave the company an “outperform” rating in a report on Tuesday. BMO Capital Markets initiated coverage on shares of Ares Management in a report on Friday, October 3rd. They set a “market perform” rating and a $156.00 price target for the company. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Ares Management in a research report on Tuesday, October 14th. Thirteen analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, Ares Management has a consensus rating of “Moderate Buy” and a consensus target price of $184.79.

Insiders Place Their Bets

In other news, Chairman Antony P. Ressler sold 196,197 shares of the stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $178.79, for a total value of $35,078,061.63. Following the completion of the transaction, the chairman owned 1,424,538 shares in the company, valued at approximately $254,693,149.02. This represents a 12.11% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Michael J. Arougheti sold 136,516 shares of the stock in a transaction dated 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 sale, the chief executive officer owned 311,728 shares of the company’s stock, valued at $56,965,174.72. This trade represents a 30.46% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 2,590,000 shares of company stock valued at $464,430,639. Corporate insiders own 36.86% of the company’s stock.

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.