Ares Management Corporation $ARES Shares Sold by Hsbc Holdings PLC

Hsbc Holdings PLC lessened its position in shares of Ares Management Corporation (NYSE:ARES) by 20.6% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 102,742 shares of the asset manager’s stock after selling 26,713 shares during the period. Hsbc Holdings PLC’s holdings in Ares Management were worth $17,804,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in ARES. Elevation Point Wealth Partners LLC purchased a new position in Ares Management in the second quarter valued at approximately $35,000. Financial Network Wealth Advisors LLC purchased a new stake in shares of Ares Management in the first quarter valued at about $31,000. Ameritas Advisory Services LLC purchased a new stake in Ares Management during the 2nd quarter valued at approximately $43,000. Banque Transatlantique SA acquired a new stake in shares of Ares Management during the first quarter worth $39,000. Finally, SouthState Corp acquired a new stake in shares of Ares Management in the 1st quarter worth $48,000. Hedge funds and other institutional investors own 50.03% of the company’s stock.

Ares Management Stock Up 0.3%

ARES stock opened at $160.05 on Wednesday. The company has a current ratio of 0.22, a quick ratio of 0.22 and a debt-to-equity ratio of 0.62. The firm has a 50 day simple moving average of $151.28 and a 200-day simple moving average of $167.83. The company has a market capitalization of $52.32 billion, a P/E ratio of 68.69, a PEG ratio of 1.24 and a beta of 1.53. Ares Management Corporation has a twelve month low of $110.63 and a twelve month high of $200.49.

Ares Management (NYSE:ARES) last posted its quarterly earnings data on Friday, October 31st. The asset manager reported $1.19 EPS for the quarter, beating analysts’ consensus estimates of $1.14 by $0.05. The firm had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $1.03 billion. Ares Management had a net margin of 11.72% and a return on equity of 16.33%. During the same period in the prior year, the firm posted $0.55 EPS. On average, equities research analysts predict that Ares Management Corporation will post 5.28 earnings per share for the current fiscal year.

Ares Management Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Wednesday, December 17th will be issued a $0.8438 dividend. This represents a $3.38 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend is Wednesday, December 17th. Ares Management’s payout ratio is currently 192.27%.

Insider Activity at Ares Management

In other news, CEO Michael J. Arougheti sold 56,257 shares of the business’s stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $157.26, for a total value of $8,846,975.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Antony P. Ressler sold 128,837 shares of the firm’s stock in a transaction on Wednesday, September 10th. The stock was sold at an average price of $178.30, for a total value of $22,971,637.10. The disclosure for this sale is available in the SEC filing. Insiders have sold 1,329,018 shares of company stock worth $221,610,842 in the last 90 days. 0.52% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of analysts recently weighed in on ARES shares. Morgan Stanley decreased their price target on Ares Management from $178.00 to $175.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 21st. Bank of America lifted their price objective on Ares Management from $196.00 to $197.00 and gave the stock a “buy” rating in a research report on Friday, October 3rd. Royal Bank Of Canada reissued an “outperform” rating and set a $215.00 price objective on shares of Ares Management in a research note on Monday, September 29th. Oppenheimer set a $190.00 price target on shares of Ares Management and gave the company an “outperform” rating in a report on Tuesday, November 4th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Ares Management in a research note on Monday. Thirteen investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, Ares Management currently has an average rating of “Moderate Buy” and a consensus price target of $187.46.

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.