SVB Wealth LLC Cuts Stock Holdings in Ares Management Corporation $ARES

SVB Wealth LLC decreased its holdings in shares of Ares Management Corporation (NYSE:ARES) by 39.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,333 shares of the asset manager’s stock after selling 20,090 shares during the quarter. SVB Wealth LLC’s holdings in Ares Management were worth $4,594,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. IFP Advisors Inc grew its holdings in shares of Ares Management by 129.6% during the first quarter. IFP Advisors Inc now owns 1,988 shares of the asset manager’s stock worth $291,000 after purchasing an additional 1,122 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its holdings in shares of Ares Management by 40.7% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 7,960 shares of the asset manager’s stock worth $1,167,000 after purchasing an additional 2,302 shares in the last quarter. Stratos Wealth Partners LTD. grew its holdings in shares of Ares Management by 4.2% during the first quarter. Stratos Wealth Partners LTD. now owns 53,401 shares of the asset manager’s stock worth $7,829,000 after purchasing an additional 2,171 shares in the last quarter. TCW Group Inc. grew its holdings in shares of Ares Management by 99.5% during the first quarter. TCW Group Inc. now owns 31,765 shares of the asset manager’s stock worth $4,657,000 after purchasing an additional 15,846 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. purchased a new position in shares of Ares Management during the first quarter worth about $667,000. Hedge funds and other institutional investors own 50.03% of the company’s stock.

Ares Management Stock Performance

Shares of ARES stock opened at $180.8550 on Friday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.08 and a current ratio of 1.08. Ares Management Corporation has a fifty-two week low of $110.63 and a fifty-two week high of $200.49. The stock has a 50 day moving average price of $179.73 and a two-hundred day moving average price of $166.10. The company has a market capitalization of $59.09 billion, a P/E ratio of 104.54, a PEG ratio of 1.40 and a beta of 1.40.

Ares Management (NYSE:ARES) last announced its quarterly earnings data on Friday, August 1st. The asset manager reported $1.03 earnings per share 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 company had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.02 billion. During the same quarter in the previous year, the firm posted $0.99 EPS. Analysts expect that Ares Management Corporation will post 5.28 earnings per share for the current year.

Ares Management Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th will be given a $1.12 dividend. The ex-dividend date is Tuesday, September 16th. This represents a $4.48 annualized dividend and a yield of 2.5%. Ares Management’s payout ratio is presently 258.96%.

Insider Buying and Selling at Ares Management

In other Ares Management news, Chairman Antony P. Ressler sold 105,394 shares of the business’s stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $181.65, for a total value of $19,144,820.10. Following the completion of the sale, the chairman owned 1,733,257 shares in the company, valued at approximately $314,846,134.05. The trade was a 5.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Michael J. Arougheti sold 105,648 shares of the business’s stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $181.65, for a total value of $19,190,959.20. Following the transaction, the chief executive officer directly owned 44,760 shares in the company, valued at $8,130,654. This trade represents a 70.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 992,628 shares of company stock worth $177,736,922. 36.86% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research analysts have recently commented on ARES shares. Wolfe Research set a $193.00 price objective on Ares Management and gave the stock an “outperform” rating in a report on Tuesday, May 6th. Oppenheimer downgraded Ares Management from an “outperform” rating to a “market perform” rating in a research report on Thursday, May 15th. Cfra Research upgraded Ares Management to a “moderate buy” rating in a research report on Monday, August 4th. Wells Fargo & Company boosted their target price on Ares Management from $189.00 to $202.00 and gave the stock an “overweight” rating in a research report on Friday, July 11th. Finally, Keefe, Bruyette & Woods boosted their target price on Ares Management from $193.00 to $203.00 and gave the stock 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 stock has a consensus rating of “Moderate Buy” and an average price target of $180.06.

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.