Beck Mack & Oliver LLC Lowers Stock Position in Ares Management Corporation $ARES

by · The Markets Daily

Beck Mack & Oliver LLC lessened its stake in Ares Management Corporation (NYSE:ARES – Free Report) by 8.0% in the second quarter, Holdings Channel.com reports. The institutional investor owned 65,587 shares of the asset manager’s stock after selling 5,740 shares during the quarter. Beck Mack & Oliver LLC’s holdings in Ares Management were worth $11,360,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. Elevation Point Wealth Partners LLC bought a new stake in shares of Ares Management during the 2nd quarter worth $35,000. Ameritas Advisory Services LLC purchased a new position in shares of Ares Management in the 2nd quarter worth about $43,000. Banque Transatlantique SA bought a new position in shares of Ares Management during the 1st quarter valued at about $39,000. Westpac Banking Corp raised its holdings in shares of Ares Management by 33.1% during the 1st quarter. Westpac Banking Corp now owns 442 shares of the asset manager’s stock valued at $65,000 after buying an additional 110 shares in the last quarter. Finally, CVA Family Office LLC lifted its position in Ares Management by 92.8% in the 2nd quarter. CVA Family Office LLC now owns 453 shares of the asset manager’s stock worth $78,000 after buying an additional 218 shares during the last quarter. Institutional investors own 50.03% of the company’s stock.

Insider Buying and Selling

In related news, CEO Michael J. Arougheti sold 56,257 shares of Ares Management stock in a transaction on Monday, December 1st. The shares were sold at an average price of $157.26, for a total value of $8,846,975.82. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders sold a total of 590,000 shares of company stock valued at $90,653,808 over the last ninety days. Company insiders own 36.86% of the company’s stock.

Ares Management Stock Performance

Shares of NYSE:ARES opened at $173.99 on Friday. 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 has a 50-day moving average price of $153.00 and a 200-day moving average price of $168.18. The company has a market cap of $56.87 billion, a price-to-earnings ratio of 74.67, a price-to-earnings-growth ratio of 1.37 and a beta of 1.53. Ares Management Corporation has a 12 month low of $110.63 and a 12 month high of $200.49.

Ares Management (NYSE:ARES – Get Free Report) last announced its quarterly earnings results on Friday, October 31st. The asset manager reported $1.19 earnings per share (EPS) 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 the consensus estimate of $1.03 billion. Ares Management had a return on equity of 16.33% and a net margin of 11.72%.During the same quarter in the previous year, the business earned $0.55 EPS. As a group, equities analysts anticipate that Ares Management Corporation will post 5.28 EPS for the current year.

Ares Management Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Wednesday, December 17th will be issued a dividend of $0.8438 per share. 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 dividend payout ratio is currently 192.27%.

Analysts Set New Price Targets

Several research firms have commented on ARES. Barclays lifted their price target on shares of Ares Management from $187.00 to $218.00 and gave the stock an “overweight” rating in a research note on Friday. Morgan Stanley lowered their price target on shares of 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. Royal Bank Of Canada restated an “outperform” rating and set a $215.00 price target on shares of Ares Management in a research report on Monday, September 29th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Ares Management in a report on Monday. Finally, Cowen restated a “buy” rating on shares of Ares Management in a report on Tuesday, November 4th. Thirteen equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $190.64.

Check Out Our Latest Research Report on ARES

Ares Management Company Profile

(Free Report)

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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