108,000 Shares in Ares Management Corporation $ARES Purchased by Cincinnati Financial Corp

Cincinnati Financial Corp bought a new stake in Ares Management Corporation (NYSE:ARES) in the second quarter, HoldingsChannel.com reports. The fund bought 108,000 shares of the asset manager’s stock, valued at approximately $18,706,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. OneDigital Investment Advisors LLC boosted its position in Ares Management by 14.6% during the 1st quarter. OneDigital Investment Advisors LLC now owns 1,369 shares of the asset manager’s stock valued at $201,000 after purchasing an additional 174 shares during the period. U.S. Capital Wealth Advisors LLC bought a new stake in Ares Management in the first quarter valued at $343,000. Nisa Investment Advisors LLC boosted its holdings in shares of Ares Management by 64.6% during the first quarter. Nisa Investment Advisors LLC now owns 1,350 shares of the asset manager’s stock valued at $198,000 after acquiring an additional 530 shares during the period. Allworth Financial LP grew its position in shares of Ares Management by 22.9% during the first quarter. Allworth Financial LP now owns 1,137 shares of the asset manager’s stock worth $174,000 after acquiring an additional 212 shares during the last quarter. Finally, Xponance Inc. increased its holdings in shares of Ares Management by 1.6% in the 1st quarter. Xponance Inc. now owns 37,353 shares of the asset manager’s stock worth $5,476,000 after acquiring an additional 580 shares during the period. 50.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Chairman Antony P. Ressler sold 196,197 shares of Ares Management stock in a transaction that occurred 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 transaction, the chairman owned 1,424,538 shares of the company’s stock, valued at $254,693,149.02. The trade was a 12.11% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Michael J. Arougheti sold 136,516 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the chief executive officer owned 311,728 shares in the company, valued at $56,965,174.72. The trade was a 30.46% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 2,590,000 shares of company stock valued at $464,430,639. Insiders own 36.86% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. BMO Capital Markets assumed coverage on shares of Ares Management in a research note on Friday, October 3rd. They set a “market perform” rating and a $156.00 target price for the company. Oppenheimer set a $190.00 price target on Ares Management and gave the company an “outperform” rating in a report on Tuesday. Citigroup reissued a “market outperform” rating on shares of Ares Management in a report on Tuesday, October 21st. Weiss Ratings restated a “hold (c)” rating on shares of Ares Management in a research report on Tuesday, October 14th. Finally, Bank of America boosted their price target on Ares Management from $196.00 to $197.00 and gave the stock a “buy” rating in a research report on Friday, October 3rd. Thirteen investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $184.79.

Ares Management Stock Performance

ARES opened at $153.68 on Friday. The business has a 50 day moving average price of $161.09 and a two-hundred day moving average price of $168.96. 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 company has a market capitalization of $50.21 billion, a price-to-earnings ratio of 88.83, a price-to-earnings-growth ratio of 1.19 and a beta of 1.45. Ares Management Corporation has a 1-year low of $110.63 and a 1-year high of $200.49.

Ares Management (NYSE:ARES) last posted its quarterly earnings data on Monday, November 3rd. The asset manager reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $1.14 by $0.05. The company had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $1.03 billion. Ares Management had a return on equity of 15.81% and a net margin of 9.47%.During the same quarter in the previous year, the business earned $0.55 EPS. Research analysts predict that Ares Management Corporation will post 5.28 EPS for the current fiscal year.

Ares Management Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 17th will be issued a $0.8438 dividend. 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 dividend payout ratio is presently 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.