Ares Management Corporation $ARES Shares Sold by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. trimmed its position in Ares Management Corporation (NYSE:ARES) by 29.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 15,955 shares of the asset manager’s stock after selling 6,680 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Ares Management were worth $2,551,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Exchange Traded Concepts LLC lifted its holdings in Ares Management by 100.0% in the third quarter. Exchange Traded Concepts LLC now owns 190 shares of the asset manager’s stock valued at $30,000 after acquiring an additional 95 shares during the last quarter. Elevation Point Wealth Partners LLC acquired a new stake in Ares Management during the second quarter worth $35,000. Ameritas Advisory Services LLC purchased a new stake in Ares Management in the second quarter valued at $43,000. First Horizon Corp acquired a new position in shares of Ares Management in the 3rd quarter valued at $51,000. Finally, Covestor Ltd grew its holdings in shares of Ares Management by 182.6% during the 3rd quarter. Covestor Ltd now owns 421 shares of the asset manager’s stock worth $67,000 after purchasing an additional 272 shares during the period. Institutional investors and hedge funds own 50.03% of the company’s stock.

Insider Buying and Selling

In other Ares Management news, CEO Michael J. Arougheti sold 186,197 shares of the firm’s stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $152.75, for a total transaction of $28,441,591.75. Following the sale, the chief executive officer owned 290,997 shares of the company’s stock, valued at approximately $44,449,791.75. This trade represents a 39.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold 590,000 shares of company stock valued at $90,653,808 in the last 90 days. Corporate insiders own 0.52% of the company’s stock.

Ares Management Trading Down 3.9%

Shares of NYSE:ARES opened at $149.86 on Tuesday. 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 company’s 50 day moving average is $164.59 and its two-hundred day moving average is $167.57. The company has a market cap of $48.98 billion, a PE ratio of 64.32, a P/E/G ratio of 0.90 and a beta of 1.53. Ares Management Corporation has a 52 week low of $110.63 and a 52 week high of $200.49.

Ares Management (NYSE:ARES) last posted its quarterly earnings results 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. The company had revenue of $1.66 billion for the quarter, compared to analysts’ expectations of $1.03 billion. Ares Management had a return on equity of 16.33% and a net margin of 11.72%.During the same period last year, the firm earned $0.55 earnings per share. Equities analysts predict that Ares Management Corporation will post 5.28 earnings per share for the current fiscal year.

Ares Management Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Wednesday, December 17th were issued a $0.8438 dividend. This represents a $3.38 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend was Wednesday, December 17th. Ares Management’s dividend payout ratio is 192.27%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on ARES. UBS Group lowered their target price on shares of Ares Management from $201.00 to $198.00 and set a “neutral” rating for the company in a research note on Tuesday, January 13th. BMO Capital Markets started coverage on shares of Ares Management in a research report on Friday, October 3rd. They set a “market perform” rating and a $156.00 price objective for the company. Barclays boosted their target price on Ares Management from $218.00 to $222.00 and gave the company an “overweight” rating in a research report on Friday, January 9th. Citigroup reaffirmed a “market outperform” rating on shares of Ares Management in a research note on Tuesday, October 21st. Finally, Keefe, Bruyette & Woods increased their target price on Ares Management from $188.00 to $189.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 4th. Twelve investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $194.57.

Ares Management Profile

Ares Management Corporation (NYSE: ARES) is a global alternative asset manager that provides investment solutions across credit, private equity and real estate. The firm originates and manages capital across a range of strategies including direct lending, syndicated and special situations credit, private equity buyouts and growth investments, and real estate equity and debt. Ares serves institutional investors, insurance companies, pension funds, sovereign wealth funds, and high‑net‑worth clients through both commingled funds and bespoke managed account structures.

Within credit, Ares offers strategies spanning leveraged loans, structured credit, opportunistic and distressed debt, and specialty finance, with an emphasis on underwriting, portfolio construction and active asset management.