CoreCap Advisors LLC Buys Shares of 15,842 Ares Management Co. (NYSE:ARES)

CoreCap Advisors LLC acquired a new position in shares of Ares Management Co. (NYSE:ARES - Free Report) in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 15,842 shares of the asset manager's stock, valued at approximately $2,111,000.

A number of other hedge funds have also made changes to their positions in the business. Compass Wealth Management LLC acquired a new stake in Ares Management during the 1st quarter worth $28,000. Riverview Trust Co acquired a new stake in shares of Ares Management during the first quarter worth about $29,000. West Oak Capital LLC lifted its holdings in shares of Ares Management by 66.7% in the 1st quarter. West Oak Capital LLC now owns 250 shares of the asset manager's stock valued at $33,000 after purchasing an additional 100 shares during the last quarter. Global Retirement Partners LLC boosted its position in shares of Ares Management by 555.0% in the 1st quarter. Global Retirement Partners LLC now owns 262 shares of the asset manager's stock valued at $35,000 after purchasing an additional 222 shares during the period. Finally, TFO Wealth Partners LLC grew its stake in Ares Management by 29,200.0% during the 4th quarter. TFO Wealth Partners LLC now owns 293 shares of the asset manager's stock worth $35,000 after buying an additional 292 shares during the last quarter. Hedge funds and other institutional investors own 50.03% of the company's stock.

Insider Transactions at Ares Management

In related news, insider Ryan Berry sold 10,000 shares of the business's stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $142.12, for a total transaction of $1,421,200.00. Following the sale, the insider now owns 446,702 shares of the company's stock, valued at $63,485,288.24. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, insider Ryan Berry sold 10,000 shares of the firm's stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $142.12, for a total value of $1,421,200.00. Following the completion of the transaction, the insider now directly owns 446,702 shares of the company's stock, valued at approximately $63,485,288.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Bennett Rosenthal sold 150,000 shares of the business's stock in a transaction on Friday, June 21st. The stock was sold at an average price of $131.94, for a total value of $19,791,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 779,315 shares of company stock valued at $109,487,356 in the last ninety days. 1.20% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

ARES has been the subject of a number of research reports. Wells Fargo & Company began coverage on Ares Management in a research note on Thursday. They issued an "equal weight" rating and a $156.00 price objective for the company. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Ares Management from $134.00 to $133.00 and set a "hold" rating for the company in a research note on Thursday, August 15th. JPMorgan Chase & Co. raised their price objective on shares of Ares Management from $141.00 to $143.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 30th. UBS Group reduced their target price on shares of Ares Management from $160.00 to $158.00 and set a "buy" rating for the company in a report on Wednesday, July 10th. Finally, Royal Bank of Canada reissued an "outperform" rating and set a $150.00 price target on shares of Ares Management in a report on Wednesday, May 22nd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $141.42.

Ares Management Stock Performance

NYSE:ARES traded up $3.55 during mid-day trading on Friday, reaching $147.39. The stock had a trading volume of 989,792 shares, compared to its average volume of 1,124,732. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.05 and a current ratio of 1.05. The business has a 50 day simple moving average of $143.34 and a 200 day simple moving average of $138.43. Ares Management Co. has a twelve month low of $96.00 and a twelve month high of $155.53. The firm has a market capitalization of $46.13 billion, a price-to-earnings ratio of 64.50, a PEG ratio of 1.33 and a beta of 1.21.

Ares Management (NYSE:ARES - Get Free Report) last posted its quarterly earnings results on Friday, August 2nd. The asset manager reported $0.99 EPS for the quarter, beating the consensus estimate of $0.98 by $0.01. Ares Management had a return on equity of 20.46% and a net margin of 12.53%. The business had revenue of $788.68 million during the quarter, compared to analysts' expectations of $860.09 million. During the same period last year, the firm earned $0.90 EPS. On average, analysts expect that Ares Management Co. will post 4.15 earnings per share for the current fiscal year.

Ares Management Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be paid a dividend of $0.93 per share. The ex-dividend date of this dividend is Monday, September 16th. This represents a $3.72 dividend on an annualized basis and a dividend yield of 2.52%. Ares Management's dividend payout ratio (DPR) is presently 166.82%.

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.