Rathbones Group PLC Decreases Holdings in Ares Management Corporation $ARES

Rathbones Group PLC reduced its position in Ares Management Corporation (NYSE:ARES) by 43.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,517 shares of the asset manager’s stock after selling 1,950 shares during the period. Rathbones Group PLC’s holdings in Ares Management were worth $436,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the company. Nisa Investment Advisors LLC boosted its position in Ares Management by 64.6% in the first quarter. Nisa Investment Advisors LLC now owns 1,350 shares of the asset manager’s stock worth $198,000 after purchasing an additional 530 shares during the last quarter. Allworth Financial LP increased its position in shares of Ares Management by 22.9% during the 1st quarter. Allworth Financial LP now owns 1,137 shares of the asset manager’s stock valued at $174,000 after purchasing an additional 212 shares during the last quarter. CWM LLC boosted its stake in shares of Ares Management by 9.6% during the 1st quarter. CWM LLC now owns 2,950 shares of the asset manager’s stock worth $432,000 after acquiring an additional 258 shares during the last quarter. Signaturefd LLC raised its holdings in Ares Management by 15.5% in the 1st quarter. Signaturefd LLC now owns 2,519 shares of the asset manager’s stock worth $369,000 after purchasing an additional 338 shares during the period. Finally, Apollon Wealth Management LLC lifted its position in Ares Management by 2.3% during the first quarter. Apollon Wealth Management LLC now owns 21,754 shares of the asset manager’s stock valued at $3,189,000 after purchasing an additional 491 shares in the last quarter. Institutional investors own 50.03% of the company’s stock.

Insiders Place Their Bets

In other Ares Management news, Chairman Antony P. Ressler sold 128,837 shares of the stock in a transaction dated Wednesday, September 10th. The shares were sold at an average price of $178.30, for a total transaction of $22,971,637.10. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders have sold 2,590,000 shares of company stock valued at $464,430,639 over the last ninety days. 0.52% of the stock is owned by corporate insiders.

Analyst Ratings Changes

ARES has been the subject of a number of analyst reports. Cfra Research upgraded Ares Management to a “moderate buy” rating in a research report on Monday, August 4th. Morgan Stanley reduced their target price on shares of Ares Management from $178.00 to $175.00 and set an “equal weight” rating for the company in a report on Tuesday, October 21st. JMP Securities raised their target price on shares of Ares Management from $195.00 to $205.00 and gave the stock a “market outperform” rating in a research note on Wednesday, August 6th. Bank of America lifted their price target on shares of Ares Management from $196.00 to $197.00 and gave the company a “buy” rating in a report on Friday, October 3rd. Finally, Citigroup reissued a “market outperform” rating on shares of Ares Management in a research note on Tuesday, October 21st. Thirteen investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $187.46.

Ares Management Price Performance

NYSE:ARES opened at $153.81 on Wednesday. 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 business has a 50 day simple moving average of $160.06 and a 200-day simple moving average of $169.12. The firm has a market capitalization of $50.25 billion, a price-to-earnings ratio of 88.91, a PEG 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 issued its quarterly earnings results on Monday, November 3rd. The asset manager reported $1.19 earnings per share for the quarter, topping the consensus estimate of $1.14 by $0.05. The firm 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 period in the prior year, the business posted $0.55 earnings per share. Equities analysts forecast that Ares Management Corporation will post 5.28 EPS for the current year.

Ares Management Cuts Dividend

The company 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 $0.8438 dividend. This represents a $3.38 annualized dividend and a dividend yield of 2.2%. The ex-dividend date is Wednesday, December 17th. Ares Management’s payout ratio is presently 192.27%.

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.