Klingman & Associates LLC Has $524,000 Stake in Ares Management Corporation $ARES

Klingman & Associates LLC grew its position in shares of Ares Management Corporation (NYSE:ARES) by 14.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,028 shares of the asset manager’s stock after buying an additional 392 shares during the quarter. Klingman & Associates LLC’s holdings in Ares Management were worth $524,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. Redmont Wealth Advisors LLC acquired a new stake in shares of Ares Management during the 1st quarter valued at about $28,000. Financial Network Wealth Advisors LLC acquired a new stake in shares of Ares Management during the 1st quarter valued at about $31,000. Ameritas Advisory Services LLC acquired a new stake in shares of Ares Management during the 2nd quarter valued at about $43,000. Banque Transatlantique SA acquired a new stake in shares of Ares Management during the 1st quarter valued at about $39,000. Finally, SouthState Corp acquired a new stake in shares of Ares Management during the 1st quarter valued at about $48,000. 50.03% of the stock is currently owned by institutional investors and hedge funds.

Ares Management Stock Performance

Shares of NYSE ARES opened at $150.21 on Wednesday. The business has a fifty day simple moving average of $169.32 and a 200 day simple moving average of $167.43. 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 firm has a market capitalization of $49.07 billion, a price-to-earnings ratio of 86.83, a PEG ratio of 1.16 and a beta of 1.43. Ares Management Corporation has a one year low of $110.63 and a one year high of $200.49.

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

Ares Management Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th were paid a dividend of $1.12 per share. The ex-dividend date was Tuesday, September 16th. This represents a $4.48 dividend on an annualized basis and a yield of 3.0%. Ares Management’s dividend payout ratio (DPR) is currently 258.96%.

Insider Transactions at Ares Management

In other Ares Management news, CEO Michael J. Arougheti sold 136,516 shares of the firm’s stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $182.74, for a total transaction of $24,946,933.84. Following the completion of the transaction, the chief executive officer owned 311,728 shares in the company, valued at $56,965,174.72. This trade represents a 30.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman Antony P. Ressler sold 196,197 shares of the firm’s stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $178.79, for a total transaction of $35,078,061.63. Following the transaction, the chairman owned 1,424,538 shares of the company’s stock, valued at approximately $254,693,149.02. This represents a 12.11% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,590,000 shares of company stock valued at $464,430,639. Corporate insiders own 0.52% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on ARES. Oppenheimer set a $180.00 price objective on shares of Ares Management and gave the stock an “outperform” rating in a report on Tuesday, October 14th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Ares Management in a report on Tuesday, October 14th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $215.00 price objective on shares of Ares Management in a report on Monday, September 29th. Barclays reduced their price objective on Ares Management from $200.00 to $187.00 and set an “overweight” rating for the company in a research report on Wednesday, October 8th. Finally, BMO Capital Markets started coverage on 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. Thirteen equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $181.93.

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.