Amalgamated Bank Acquires 944 Shares of Ares Management Corporation (NYSE:ARES)

Amalgamated Bank increased its holdings in shares of Ares Management Corporation (NYSE:ARES) by 7.7% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 13,162 shares of the asset manager’s stock after purchasing an additional 944 shares during the period. Amalgamated Bank’s holdings in Ares Management were worth $1,930,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. KBC Group NV grew its holdings in Ares Management by 27.5% during the first quarter. KBC Group NV now owns 35,695 shares of the asset manager’s stock worth $5,234,000 after purchasing an additional 7,695 shares during the period. Sumitomo Mitsui Trust Group Inc. grew its holdings in Ares Management by 0.7% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 416,257 shares of the asset manager’s stock worth $61,027,000 after purchasing an additional 2,904 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in shares of Ares Management by 3.4% during the first quarter. Allspring Global Investments Holdings LLC now owns 4,918 shares of the asset manager’s stock worth $735,000 after acquiring an additional 161 shares during the period. Kessler Investment Group LLC bought a new stake in shares of Ares Management during the first quarter worth approximately $5,759,000. Finally, Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Ares Management by 2.0% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 24,234 shares of the asset manager’s stock worth $3,512,000 after acquiring an additional 467 shares during the period. Institutional investors own 50.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on ARES shares. Wolfe Research set a $193.00 price objective on Ares Management and gave the stock an “outperform” rating in a report on Tuesday, May 6th. Citizens Jmp upgraded Ares Management from a “market perform” rating to an “outperform” rating and set a $165.00 price objective for the company in a report on Tuesday, April 8th. Bank of America reduced their price objective on Ares Management from $221.00 to $201.00 and set a “buy” rating for the company in a report on Friday, April 4th. Wells Fargo & Company boosted their price objective on Ares Management from $182.00 to $189.00 and gave the stock an “overweight” rating in a report on Friday, May 23rd. Finally, Oppenheimer cut Ares Management from an “outperform” rating to a “market perform” rating in a report on Thursday, May 15th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $174.94.

Insider Transactions at Ares Management

In other news, insider David B. Kaplan sold 62,500 shares of the company’s stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $169.36, for a total transaction of $10,585,000.00. Following the completion of the transaction, the insider directly owned 62,500 shares in the company, valued at approximately $10,585,000. This represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Bennett Rosenthal sold 85,000 shares of the company’s stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $168.79, for a total transaction of $14,347,150.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 873,145 shares of company stock worth $146,204,353. Corporate insiders own 0.52% of the company’s stock.

Ares Management Stock Down 0.0%

Shares of NYSE ARES opened at $177.96 on Monday. The company has a market cap of $58.12 billion, a price-to-earnings ratio of 104.68, a PEG ratio of 1.40 and a beta of 1.37. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.61. Ares Management Corporation has a 12 month low of $110.63 and a 12 month high of $200.49. The stock has a 50-day moving average price of $166.68 and a two-hundred day moving average price of $166.37.

Ares Management (NYSE:ARES) last released its quarterly earnings data on Monday, May 5th. The asset manager reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.94 by $0.15. The business had revenue of $951.96 million during the quarter, compared to analysts’ expectations of $914.00 million. Ares Management had a net margin of 9.73% and a return on equity of 16.29%. During the same period in the prior year, the company earned $0.80 EPS. As a group, analysts forecast that Ares Management Corporation will post 5.28 earnings per share for the current fiscal year.

Ares Management Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 16th were paid a dividend of $1.12 per share. The ex-dividend date was Monday, June 16th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 2.52%. Ares Management’s payout ratio is presently 263.53%.

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.