Inceptionr LLC Takes Position in Ares Management Corporation $ARES

Inceptionr LLC purchased a new position in shares of Ares Management Corporation (NYSE:ARES) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 5,273 shares of the asset manager’s stock, valued at approximately $913,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Financial Network Wealth Advisors LLC acquired a new stake in Ares Management in the first quarter valued at approximately $31,000. Ameritas Advisory Services LLC purchased a new position in shares of Ares Management in the second quarter valued at $43,000. Banque Transatlantique SA purchased a new position in shares of Ares Management in the first quarter valued at $39,000. SouthState Corp acquired a new stake in Ares Management during the 1st quarter valued at $48,000. Finally, Westpac Banking Corp increased its stake in Ares Management by 33.1% during the 1st quarter. Westpac Banking Corp now owns 442 shares of the asset manager’s stock worth $65,000 after buying an additional 110 shares during the period. Hedge funds and other institutional investors own 50.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. JMP Securities raised their target price on Ares Management from $195.00 to $205.00 and gave the company a “market outperform” rating in a research note on Wednesday, August 6th. Barclays reduced their price target on Ares Management from $200.00 to $187.00 and set an “overweight” rating for the company in a report on Wednesday, October 8th. Keefe, Bruyette & Woods raised their price objective on Ares Management from $188.00 to $189.00 and gave the company an “outperform” rating in a research note on Tuesday, November 4th. Bank of America upped their target price on Ares Management from $196.00 to $197.00 and gave the company a “buy” rating in a research report on Friday, October 3rd. Finally, Citigroup reiterated 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 given a Hold rating to the company. According to MarketBeat.com, Ares Management has an average rating of “Moderate Buy” and a consensus target price of $187.46.

Insiders Place Their Bets

In other news, CEO Michael J. Arougheti sold 186,197 shares of the firm’s stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $152.75, for a total value of $28,441,591.75. Following the transaction, the chief executive officer directly owned 290,997 shares in the company, valued at approximately $44,449,791.75. This trade represents a 39.02% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman Antony P. Ressler sold 177,929 shares of the business’s stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $178.61, for a total transaction of $31,779,898.69. Following the sale, the chairman directly owned 865,517 shares of the company’s stock, valued at approximately $154,589,991.37. This represents a 17.05% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 1,443,481 shares of company stock valued at $248,591,346. 36.86% of the stock is currently owned by corporate insiders.

Ares Management Stock Up 1.2%

Shares of Ares Management stock opened at $154.64 on Thursday. The business has a 50-day moving average price of $153.25 and a 200 day moving average price of $168.26. Ares Management Corporation has a fifty-two week low of $110.63 and a fifty-two week high of $200.49. The firm has a market cap of $50.55 billion, a P/E ratio of 89.39, a P/E/G ratio of 1.19 and a beta of 1.45. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.64.

Ares Management (NYSE:ARES) last released its earnings results on Friday, October 31st. 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 last year, the business posted $0.55 EPS. On average, sell-side analysts forecast that Ares Management Corporation will post 5.28 earnings per share for the current fiscal year.

Ares Management Cuts Dividend

The firm also recently disclosed 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 payout ratio is currently 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.