UBS Asset Management Americas Inc. Increases Stock Holdings in Ares Management Corp (NYSE:ARES)

UBS Asset Management Americas Inc. grew its position in Ares Management Corp (NYSE:ARES) by 49.4% in the second quarter, HoldingsChannel reports. The institutional investor owned 71,418 shares of the asset manager’s stock after purchasing an additional 23,599 shares during the period. UBS Asset Management Americas Inc.’s holdings in Ares Management were worth $1,869,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in ARES. BNP Paribas Arbitrage SA acquired a new stake in shares of Ares Management during the second quarter valued at $51,000. AGF Investments LLC acquired a new stake in shares of Ares Management during the second quarter valued at $53,000. Quantamental Technologies LLC acquired a new stake in shares of Ares Management during the second quarter valued at $71,000. NumerixS Investment Technologies Inc acquired a new stake in shares of Ares Management during the second quarter valued at $131,000. Finally, Bank of Montreal Can acquired a new stake in shares of Ares Management during the second quarter valued at $140,000. Institutional investors and hedge funds own 60.13% of the company’s stock.

A number of analysts recently commented on ARES shares. Barclays started coverage on Ares Management in a research note on Monday, August 5th. They set an “overweight” rating and a $33.00 price objective on the stock. Bank of America reaffirmed a “buy” rating and set a $33.00 price objective on shares of Ares Management in a research note on Wednesday, September 25th. TheStreet raised Ares Management from a “c+” rating to a “b” rating in a research note on Friday, August 16th. Wells Fargo & Co raised their price target on Ares Management from $33.00 to $37.00 and gave the stock an “outperform” rating in a research note on Thursday, September 12th. Finally, UBS Group raised their price target on Ares Management from $28.00 to $32.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $30.50.

In other news, CEO Michael J. Arougheti sold 127,400 shares of Ares Management stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $28.30, for a total value of $3,605,420.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Ares Management Llc sold 3,500,000 shares of Ares Management stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $0.11, for a total value of $385,000.00. Following the completion of the transaction, the director now directly owns 86,857 shares in the company, valued at $9,554.27. The disclosure for this sale can be found here. Over the last three months, insiders sold 5,058,262 shares of company stock worth $4,133,506. 151.62% of the stock is owned by corporate insiders.

Shares of NYSE:ARES opened at $26.65 on Friday. The stock’s 50-day moving average price is $28.50 and its two-hundred day moving average price is $26.81. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.67. Ares Management Corp has a 12-month low of $16.18 and a 12-month high of $31.02. The firm has a market cap of $3.00 billion, a price-to-earnings ratio of 18.77, a PEG ratio of 1.44 and a beta of 1.43.

Ares Management (NYSE:ARES) last issued its quarterly earnings results on Wednesday, July 31st. The asset manager reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.02). Ares Management had a return on equity of 22.54% and a net margin of 7.77%. The business had revenue of $384.80 million during the quarter, compared to analyst estimates of $300.41 million. During the same period in the previous year, the business posted $0.34 earnings per share. The firm’s quarterly revenue was up 88.4% on a year-over-year basis. As a group, research analysts forecast that Ares Management Corp will post 1.51 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 4.80%. The ex-dividend date was Friday, September 13th. Ares Management’s payout ratio is 90.14%.

Ares Management Company 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.

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Institutional Ownership by Quarter for Ares Management (NYSE:ARES)

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