Winslow Capital Management LLC Buys Shares of 934,030 Ares Management Corporation $ARES

Winslow Capital Management LLC purchased a new position in Ares Management Corporation (NYSE:ARES) during the second quarter, Holdings Channel reports. The fund purchased 934,030 shares of the asset manager’s stock, valued at approximately $161,774,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Norges Bank purchased a new position in Ares Management in the second quarter worth $328,910,000. Vanguard Group Inc. lifted its stake in Ares Management by 9.1% during the second quarter. Vanguard Group Inc. now owns 20,936,367 shares of the asset manager’s stock worth $3,626,179,000 after purchasing an additional 1,746,376 shares during the last quarter. Geode Capital Management LLC lifted its stake in Ares Management by 7.6% during the second quarter. Geode Capital Management LLC now owns 3,454,083 shares of the asset manager’s stock worth $596,280,000 after purchasing an additional 244,286 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Ares Management by 24.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,208,292 shares of the asset manager’s stock worth $177,148,000 after purchasing an additional 240,564 shares in the last quarter. Finally, Laurel Wealth Advisors LLC increased its position in shares of Ares Management by 20,991.6% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 196,152 shares of the asset manager’s stock valued at $33,974,000 after purchasing an additional 195,222 shares during the last quarter. Hedge funds and other institutional investors own 50.03% of the company’s stock.

Insider Buying and Selling

In related news, Chairman Antony P. Ressler sold 128,837 shares of the company’s stock in a transaction that occurred on Wednesday, September 10th. The stock was sold at an average price of $178.30, for a total transaction of $22,971,637.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Michael J. Arougheti sold 186,197 shares of Ares Management stock in a transaction 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 completion of the sale, the chief executive officer owned 290,997 shares in the company, valued at approximately $44,449,791.75. This trade represents a 39.02% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 820,237 shares of company stock valued at $131,424,187. 0.52% of the stock is owned by corporate insiders.

Ares Management Price Performance

ARES stock opened at $165.06 on Monday. 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’s 50-day moving average price is $151.20 and its two-hundred day moving average price is $167.81. The stock has a market capitalization of $53.95 billion, a price-to-earnings ratio of 70.84, a PEG ratio of 1.28 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) last posted its earnings results on Friday, October 31st. The asset manager reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate 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. As a group, equities analysts predict that Ares Management Corporation will post 5.28 earnings per share for the current year.

Ares Management Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 17th will be paid a dividend of $0.8438 per share. The ex-dividend date of this dividend is Wednesday, December 17th. This represents a $3.38 annualized dividend and a dividend yield of 2.0%. Ares Management’s payout ratio is 192.27%.

Wall Street Analyst Weigh In

ARES has been the subject of a number of recent research reports. Morgan Stanley dropped their target price on Ares Management from $178.00 to $175.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 21st. TD Cowen boosted their price objective on shares of Ares Management from $175.00 to $197.00 and gave the stock a “buy” rating in a report on Tuesday, November 4th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $215.00 price objective on shares of Ares Management in a research note on Monday, September 29th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Ares Management in a research report on Monday, December 1st. Finally, Bank of America boosted their price target on shares of Ares Management from $196.00 to $197.00 and gave the stock a “buy” rating in a research note on Friday, October 3rd. Thirteen analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $187.46.

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.