Rockefeller Capital Management L.P. Purchases 142,405 Shares of Ares Management Corporation $ARES

Rockefeller Capital Management L.P. lifted its position in shares of Ares Management Corporation (NYSE:ARES) by 115.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 265,459 shares of the asset manager’s stock after purchasing an additional 142,405 shares during the period. Rockefeller Capital Management L.P.’s holdings in Ares Management were worth $45,978,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Kingsview Wealth Management LLC increased its stake in Ares Management by 4.0% in the 2nd quarter. Kingsview Wealth Management LLC now owns 1,625 shares of the asset manager’s stock valued at $281,000 after buying an additional 63 shares during the last quarter. Creative Planning boosted its stake in shares of Ares Management by 29.6% in the 2nd quarter. Creative Planning now owns 34,036 shares of the asset manager’s stock worth $5,895,000 after buying an additional 7,776 shares during the last quarter. Meridian Wealth Management LLC grew its holdings in shares of Ares Management by 1.1% in the second quarter. Meridian Wealth Management LLC now owns 33,948 shares of the asset manager’s stock valued at $5,880,000 after acquiring an additional 355 shares in the last quarter. Burling Wealth Partners LLC increased its position in shares of Ares Management by 18.9% during the second quarter. Burling Wealth Partners LLC now owns 20,679 shares of the asset manager’s stock valued at $3,582,000 after acquiring an additional 3,288 shares during the last quarter. Finally, Candriam S.C.A. bought a new stake in Ares Management during the second quarter worth $3,137,000. 50.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Ares Management

In other Ares Management 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 value of $22,971,637.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Over the last 90 days, insiders sold 2,448,244 shares of company stock worth $437,651,901. Corporate insiders own 36.86% of the company’s stock.

Analyst Upgrades and Downgrades

ARES has been the subject of a number of recent analyst reports. Royal Bank Of Canada restated an “outperform” rating and issued a $215.00 price objective on shares of Ares Management in a research note 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 price target on the stock. JMP Securities raised their price objective 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. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Ares Management in a research report on Tuesday, November 11th. Finally, Cfra Research raised shares of Ares Management to a “moderate buy” rating in a research report on Monday, August 4th. Thirteen investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $187.46.

Ares Management Stock Down 1.3%

ARES opened at $146.53 on Monday. Ares Management Corporation has a 12 month low of $110.63 and a 12 month high of $200.49. The company has a market cap of $47.87 billion, a PE ratio of 84.70, a price-to-earnings-growth ratio of 1.19 and a beta of 1.45. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.64. The company has a 50 day moving average of $158.36 and a 200 day moving average of $169.05.

Ares Management (NYSE:ARES) last issued its earnings results on Friday, October 31st. The asset manager reported $1.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.14 by $0.05. Ares Management had a net margin of 9.47% and a return on equity of 15.81%. The business had revenue of $1.66 billion for the quarter, compared to analysts’ expectations of $1.03 billion. During the same quarter in the previous year, the firm posted $0.55 EPS. On average, sell-side analysts expect that Ares Management Corporation will post 5.28 EPS for the current year.

Ares Management Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Wednesday, December 17th will be issued a dividend of $0.8438 per share. The ex-dividend date of this dividend is Wednesday, December 17th. This represents a $3.38 dividend on an annualized basis and a yield of 2.3%. Ares Management’s dividend payout ratio is 192.27%.

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.