179,728 Shares in Ares Management Corporation $ARES Acquired by Strs Ohio

Strs Ohio bought a new position in shares of Ares Management Corporation (NYSE:ARES) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 179,728 shares of the asset manager’s stock, valued at approximately $26,350,000. Strs Ohio owned approximately 0.06% of Ares Management as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of the business. Smartleaf Asset Management LLC grew its stake in shares of Ares Management by 9.1% during the 1st quarter. Smartleaf Asset Management LLC now owns 746 shares of the asset manager’s stock worth $108,000 after acquiring an additional 62 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Ares Management by 5.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,344 shares of the asset manager’s stock worth $197,000 after acquiring an additional 70 shares in the last quarter. Canton Hathaway LLC grew its stake in shares of Ares Management by 9.5% during the 1st quarter. Canton Hathaway LLC now owns 865 shares of the asset manager’s stock worth $127,000 after acquiring an additional 75 shares in the last quarter. Bessemer Group Inc. grew its stake in shares of Ares Management by 1.8% during the 1st quarter. Bessemer Group Inc. now owns 4,360 shares of the asset manager’s stock worth $639,000 after acquiring an additional 78 shares in the last quarter. Finally, Walled Lake Planning & Wealth Management LLC grew its stake in shares of Ares Management by 4.2% during the 1st quarter. Walled Lake Planning & Wealth Management LLC now owns 2,035 shares of the asset manager’s stock worth $298,000 after acquiring an additional 82 shares in the last quarter. 50.03% of the stock is owned by institutional investors.

Insider Transactions at Ares Management

In other Ares Management news, Chairman Antony P. Ressler sold 128,837 shares of the firm’s stock in a transaction on Wednesday, September 10th. The stock was sold at an average price of $178.30, for a total transaction of $22,971,637.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Over the last three months, insiders sold 2,590,000 shares of company stock worth $464,430,639. Company insiders own 36.86% of the company’s stock.

Ares Management Trading Down 1.0%

Shares of Ares Management stock opened at $182.95 on Friday. The business has a fifty day simple moving average of $182.19 and a two-hundred day simple moving average of $165.65. Ares Management Corporation has a 1 year low of $110.63 and a 1 year high of $200.49. The company has a market capitalization of $59.77 billion, a price-to-earnings ratio of 105.75, a P/E/G ratio of 1.45 and a beta of 1.44. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.08 and a quick ratio of 1.08.

Ares Management (NYSE:ARES) last announced its quarterly earnings results on Friday, August 1st. The asset manager reported $1.03 earnings per share (EPS) 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 business had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.02 billion. During the same period in the prior year, the business earned $0.99 EPS. Research analysts forecast that Ares Management Corporation will post 5.28 EPS for the current year.

Ares Management Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th will be issued a dividend of $1.12 per share. The ex-dividend date of this dividend is Tuesday, September 16th. This represents a $4.48 annualized dividend and a yield of 2.4%. Ares Management’s dividend payout ratio (DPR) is currently 258.96%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on ARES. Raymond James Financial began coverage on shares of Ares Management in a research note on Monday, July 28th. They set a “market perform” rating for the company. Keefe, Bruyette & Woods raised their price target on shares of Ares Management from $193.00 to $203.00 and gave the stock an “outperform” rating in a research note on Monday, August 4th. Barclays raised their price target on shares of Ares Management from $182.00 to $200.00 and gave the stock an “overweight” rating in a research note on Thursday, July 10th. Citigroup reissued an “outperform” rating on shares of Ares Management in a research note on Monday, July 14th. Finally, JMP Securities raised their target price on shares of Ares Management from $195.00 to $205.00 and gave the company a “market outperform” rating in a research note on Wednesday, August 6th. Thirteen analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, Ares Management has a consensus rating of “Moderate Buy” and a consensus target price of $182.73.

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.