Nisa Investment Advisors LLC Sells 374 Shares of Ares Management Corporation $ARES

Nisa Investment Advisors LLC lessened its stake in Ares Management Corporation (NYSE:ARES) by 27.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 976 shares of the asset manager’s stock after selling 374 shares during the period. Nisa Investment Advisors LLC’s holdings in Ares Management were worth $169,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Financial Network Wealth Advisors LLC purchased a new position in shares of Ares Management during the 1st quarter worth $31,000. Banque Transatlantique SA purchased a new position in shares of Ares Management during the 1st quarter worth $39,000. Ameritas Advisory Services LLC purchased a new position in shares of Ares Management during the 2nd quarter worth $43,000. SouthState Corp purchased a new position in shares of Ares Management during the 1st quarter worth $48,000. Finally, GW&K Investment Management LLC boosted its stake in shares of Ares Management by 69.5% during the 1st quarter. GW&K Investment Management LLC now owns 373 shares of the asset manager’s stock worth $55,000 after acquiring an additional 153 shares during the last quarter. Institutional investors own 50.03% of the company’s stock.

Insider Transactions at Ares Management

In other Ares Management news, Chairman Antony P. Ressler sold 128,837 shares of Ares Management stock in a transaction on Wednesday, September 10th. The shares were sold at an average price of $178.30, for a total value of $22,971,637.10. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In the last 90 days, insiders have sold 2,590,000 shares of company stock valued at $464,430,639. Insiders own 36.86% of the company’s stock.

Ares Management Stock Down 1.6%

ARES opened at $152.96 on Wednesday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.08 and a current ratio of 1.08. Ares Management Corporation has a fifty-two week low of $110.63 and a fifty-two week high of $200.49. The firm’s fifty day moving average is $162.72 and its 200 day moving average is $168.89. The stock has a market cap of $49.97 billion, a price-to-earnings ratio of 88.42, a price-to-earnings-growth ratio of 1.19 and a beta of 1.43.

Ares Management (NYSE:ARES) last released its earnings results on Monday, November 3rd. The asset manager reported $1.19 earnings per share for the quarter, beating analysts’ consensus estimates of $1.14 by $0.05. The company had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.03 billion. Ares Management had a net margin of 9.47% and a return on equity of 15.81%. During the same quarter in the previous year, the company earned $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 business also recently declared 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 is Wednesday, December 17th. Ares Management’s payout ratio is currently 258.96%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on ARES. Bank of America lifted their price target on shares of Ares Management from $196.00 to $197.00 and gave the stock a “buy” rating in a research note on Friday, October 3rd. BMO Capital Markets began coverage on shares of Ares Management in a research note on Friday, October 3rd. They set a “market perform” rating and a $156.00 price target on the stock. Keefe, Bruyette & Woods lifted their price target on shares of Ares Management from $188.00 to $189.00 and gave the stock an “outperform” rating in a research note on Tuesday. Royal Bank Of Canada reiterated an “outperform” rating and set a $215.00 price target on shares of Ares Management in a research note on Monday, September 29th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Ares Management in a research note on Tuesday, October 14th. Thirteen equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $184.79.

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.