Intech Investment Management LLC Decreases Position in Ares Management Corporation $ARES

Intech Investment Management LLC decreased its position in Ares Management Corporation (NYSE:ARES) by 51.5% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 4,447 shares of the asset manager’s stock after selling 4,724 shares during the period. Intech Investment Management LLC’s holdings in Ares Management were worth $770,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Creative Planning grew its position in shares of Ares Management by 29.6% in the second quarter. Creative Planning now owns 34,036 shares of the asset manager’s stock valued at $5,895,000 after purchasing an additional 7,776 shares during the last quarter. Wealth Alliance LLC raised its position in shares of Ares Management by 30.6% during the 2nd quarter. Wealth Alliance LLC now owns 4,388 shares of the asset manager’s stock worth $760,000 after purchasing an additional 1,027 shares during the last quarter. Burling Wealth Partners LLC lifted its stake in Ares Management by 18.9% in the 2nd quarter. Burling Wealth Partners LLC now owns 20,679 shares of the asset manager’s stock valued at $3,582,000 after buying an additional 3,288 shares in the last quarter. Alta Fox Capital Management LLC acquired a new stake in Ares Management during the 1st quarter valued at $2,453,000. Finally, Park Avenue Securities LLC purchased a new position in Ares Management during the second quarter worth $2,578,000. Hedge funds and other institutional investors own 50.03% of the company’s stock.

Insider Activity

In other news, Chairman Antony P. Ressler sold 128,837 shares of Ares Management 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 transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Michael J. Arougheti sold 186,197 shares of the business’s stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $152.75, for a total value of $28,441,591.75. Following the sale, the chief executive officer owned 290,997 shares of the company’s stock, valued at $44,449,791.75. The trade was a 39.02% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 1,443,481 shares of company stock valued at $248,591,346 over the last 90 days. 36.86% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on ARES shares. Bank of America increased their price objective on Ares Management from $196.00 to $197.00 and gave the company a “buy” rating in a research note on Friday, October 3rd. TD Cowen raised their price target on shares of Ares Management from $175.00 to $197.00 and gave the stock a “buy” rating in a research note on Tuesday, November 4th. BMO Capital Markets assumed coverage on shares of Ares Management in a research report on Friday, October 3rd. They issued a “market perform” rating and a $156.00 price objective for the company. Morgan Stanley decreased their target price on shares of Ares Management from $178.00 to $175.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 21st. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $215.00 target price on shares of Ares Management in a research note on Monday, September 29th. Thirteen equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $187.46.

Ares Management Price Performance

Ares Management stock opened at $154.64 on Thursday. 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 quick ratio of 1.08 and a current ratio of 1.08. The firm has a 50 day moving average price of $153.25 and a 200 day moving average price of $168.26. The company has a market cap of $50.55 billion, a price-to-earnings ratio of 89.39, a PEG ratio of 1.19 and a beta of 1.45.

Ares Management (NYSE:ARES) last announced its quarterly earnings results on Friday, October 31st. The asset manager reported $1.19 earnings per share 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 company had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same quarter last year, the business earned $0.55 EPS. Sell-side analysts predict that Ares Management Corporation will post 5.28 earnings per share for the current year.

Ares Management Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 17th will be given a dividend of $0.8438 per share. This represents a $3.38 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend is Wednesday, December 17th. Ares Management’s 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.