Ameritas Advisory Services LLC Invests $43,000 in Ares Management Corporation $ARES

Ameritas Advisory Services LLC bought a new position in shares of Ares Management Corporation (NYSE:ARES) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund bought 246 shares of the asset manager’s stock, valued at approximately $43,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Redmont Wealth Advisors LLC acquired a new position in shares of Ares Management in the first quarter worth approximately $28,000. Financial Network Wealth Advisors LLC acquired a new position in shares of Ares Management in the 1st quarter worth approximately $31,000. Rakuten Securities Inc. lifted its position in shares of Ares Management by 3,262.5% in the 1st quarter. Rakuten Securities Inc. now owns 269 shares of the asset manager’s stock worth $39,000 after purchasing an additional 261 shares during the period. Banque Transatlantique SA acquired a new position in Ares Management in the first quarter valued at $39,000. Finally, SouthState Corp acquired a new position in Ares Management in the first quarter valued at $48,000. 50.03% of the stock is owned by institutional investors and hedge funds.

Ares Management Trading Up 2.0%

NYSE:ARES opened at $143.69 on Tuesday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.08 and a current ratio of 1.08. The firm has a market cap of $46.94 billion, a price-to-earnings ratio of 83.06, a price-to-earnings-growth ratio of 1.10 and a beta of 1.43. The firm has a 50-day moving average price of $174.36 and a two-hundred day moving average price of $167.32. Ares Management Corporation has a 52 week low of $110.63 and a 52 week high of $200.49.

Ares Management (NYSE:ARES) last announced its 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 analysts’ expectations of $1.02 billion. During the same period in the prior year, the business earned $0.99 earnings per share. On average, equities analysts expect that Ares Management Corporation will post 5.28 earnings per share for the current fiscal year.

Ares Management Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th were given a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend was Tuesday, September 16th. Ares Management’s dividend payout ratio (DPR) is currently 258.96%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. BMO Capital Markets initiated coverage on shares of Ares Management in a report on Friday, October 3rd. They issued a “market perform” rating and a $156.00 target price on the stock. JMP Securities boosted their price target 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. Wells Fargo & Company boosted their price target on Ares Management from $189.00 to $202.00 and gave the company an “overweight” rating in a research note on Friday, July 11th. Bank of America boosted their target price on shares of Ares Management from $196.00 to $197.00 and gave the company a “buy” rating in a research report on Friday, October 3rd. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Ares Management in a research report on Saturday, September 27th. Thirteen analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $180.00.

Insiders Place Their Bets

In related news, Chairman Antony P. Ressler sold 128,837 shares of the business’s stock in a transaction dated Wednesday, September 10th. The stock was sold at an average price of $178.30, for a total value of $22,971,637.10. The sale was disclosed in a legal filing with the SEC, which is available through this link. Over the last ninety days, insiders sold 2,590,000 shares of company stock valued at $464,430,639. Company insiders own 0.52% of the company’s stock.

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.