Corient Private Wealth LLC Has $155.37 Million Stock Position in Ares Management Corporation $ARES

Corient Private Wealth LLC reduced its holdings in Ares Management Corporation (NYSE:ARES) by 15.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 897,026 shares of the asset manager’s stock after selling 161,122 shares during the period. Corient Private Wealth LLC owned about 0.27% of Ares Management worth $155,365,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Valeo Financial Advisors LLC increased its holdings in shares of Ares Management by 0.8% in the 2nd quarter. Valeo Financial Advisors LLC now owns 13,403 shares of the asset manager’s stock valued at $2,321,000 after purchasing an additional 103 shares during the period. B. Riley Wealth Advisors Inc. purchased a new position in Ares Management during the second quarter valued at approximately $291,000. Hudson Bay Capital Management LP purchased a new position in Ares Management during the second quarter valued at approximately $525,000. Evergreen Capital Management LLC acquired a new position in Ares Management in the 2nd quarter valued at approximately $359,000. Finally, Captrust Financial Advisors lifted its position in Ares Management by 20.5% in the 2nd quarter. Captrust Financial Advisors now owns 7,201 shares of the asset manager’s stock worth $1,247,000 after buying an additional 1,227 shares in the last quarter. Hedge funds and other institutional investors own 50.03% of the company’s stock.

Analysts Set New Price Targets

ARES has been the topic of several research analyst reports. Citigroup restated a “market outperform” rating on shares of Ares Management in a report on Tuesday, October 21st. Keefe, Bruyette & Woods lifted their price objective on Ares Management from $188.00 to $189.00 and gave the company an “outperform” rating in a research report on Tuesday, November 4th. Barclays upped their target price on Ares Management from $187.00 to $218.00 and gave the stock an “overweight” rating in a research report on Friday. Bank of America lifted their price target on Ares Management from $196.00 to $197.00 and gave the company a “buy” rating in a report on Friday, October 3rd. Finally, Morgan Stanley lowered their price target on Ares Management from $178.00 to $175.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 21st. Thirteen investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $190.64.

Ares Management Price Performance

Shares of NYSE:ARES opened at $173.99 on Monday. The stock has a market capitalization of $56.87 billion, a P/E ratio of 74.67, a P/E/G ratio of 1.35 and a beta of 1.53. The business has a 50-day moving average of $153.00 and a two-hundred day moving average of $168.24. Ares Management Corporation has a fifty-two week low of $110.63 and a fifty-two week high of $200.49. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.22 and a quick ratio of 0.22.

Ares Management (NYSE:ARES) last issued its quarterly earnings data on Friday, October 31st. The asset manager reported $1.19 earnings per share for the quarter, beating analysts’ consensus estimates of $1.14 by $0.05. Ares Management had a return on equity of 16.33% and a net margin of 11.72%.The business had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same period last year, the business earned $0.55 EPS. On average, equities research analysts predict that Ares Management Corporation will post 5.28 EPS 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. Stockholders of record on Wednesday, December 17th will be paid a $0.8438 dividend. This represents a $3.38 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date is Wednesday, December 17th. Ares Management’s payout ratio is presently 192.27%.

Insider Buying and Selling at Ares Management

In related news, CEO Michael J. Arougheti sold 56,257 shares of the company’s stock in a transaction on Monday, December 1st. The shares were sold at an average price of $157.26, for a total transaction of $8,846,975.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders have sold 590,000 shares of company stock valued at $90,653,808 in the last ninety days. 0.52% of the stock is currently owned by insiders.

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.