First Hawaiian Bank Sells 1,334 Shares of Ares Management Co. (NYSE:ARES)

First Hawaiian Bank decreased its position in shares of Ares Management Co. (NYSE:ARES) by 32.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,839 shares of the asset manager’s stock after selling 1,334 shares during the period. First Hawaiian Bank’s holdings in Ares Management were worth $378,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Nordea Investment Management AB raised its stake in Ares Management by 2.0% in the third quarter. Nordea Investment Management AB now owns 10,512 shares of the asset manager’s stock valued at $1,109,000 after purchasing an additional 202 shares in the last quarter. Hsbc Holdings PLC lifted its holdings in shares of Ares Management by 41.8% during the 3rd quarter. Hsbc Holdings PLC now owns 25,336 shares of the asset manager’s stock worth $2,614,000 after acquiring an additional 7,468 shares during the period. Dark Forest Capital Management LP acquired a new stake in shares of Ares Management during the 3rd quarter worth approximately $1,043,000. LPL Financial LLC increased its stake in Ares Management by 12.1% in the third quarter. LPL Financial LLC now owns 48,714 shares of the asset manager’s stock valued at $5,011,000 after acquiring an additional 5,263 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Ares Management during the third quarter valued at approximately $988,000. Institutional investors and hedge funds own 50.03% of the company’s stock.

Ares Management Stock Down 2.2 %

NYSE ARES opened at $131.79 on Friday. Ares Management Co. has a 1 year low of $90.29 and a 1 year high of $150.12. The stock has a market capitalization of $40.83 billion, a PE ratio of 59.10, a PEG ratio of 1.29 and a beta of 1.21. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.03 and a quick ratio of 1.03. The business’s 50-day moving average is $137.60 and its 200 day moving average is $129.88.

Ares Management (NYSE:ARES) last issued its quarterly earnings data on Thursday, May 2nd. The asset manager reported $0.80 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.13). Ares Management had a net margin of 12.86% and a return on equity of 21.22%. The company had revenue of $707.36 million for the quarter, compared to analysts’ expectations of $814.88 million. During the same period in the previous year, the firm posted $0.71 earnings per share. Sell-side analysts forecast that Ares Management Co. will post 4.25 earnings per share for the current year.

Ares Management Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be issued a dividend of $0.93 per share. The ex-dividend date is Friday, June 14th. This represents a $3.72 annualized dividend and a dividend yield of 2.82%. Ares Management’s payout ratio is presently 166.82%.

Insider Transactions at Ares Management

In other Ares Management news, Director Judy D. Olian sold 3,417 shares of Ares Management stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $134.00, for a total value of $457,878.00. Following the completion of the transaction, the director now directly owns 27,312 shares of the company’s stock, valued at $3,659,808. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Judy D. Olian sold 3,417 shares of the stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $134.00, for a total transaction of $457,878.00. Following the transaction, the director now owns 27,312 shares in the company, valued at $3,659,808. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Chairman Antony P. Ressler sold 18,881 shares of the stock in a transaction on Monday, March 25th. The shares were sold at an average price of $133.96, for a total value of $2,529,298.76. The disclosure for this sale can be found here. Insiders sold a total of 1,409,634 shares of company stock valued at $191,478,719 in the last quarter. 1.20% of the stock is owned by insiders.

Wall Street Analyst Weigh In

ARES has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft lowered Ares Management from a “buy” rating to a “hold” rating and decreased their price target for the company from $176.00 to $132.00 in a research note on Thursday, June 13th. Barclays lowered their target price on Ares Management from $153.00 to $150.00 and set an “overweight” rating for the company in a research note on Friday, May 3rd. Jefferies Financial Group dropped their target price on shares of Ares Management from $131.00 to $127.00 and set a “hold” rating for the company in a report on Thursday, May 9th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $150.00 price target on shares of Ares Management in a report on Wednesday, May 22nd. Finally, JMP Securities reissued a “market perform” rating on shares of Ares Management in a research note on Tuesday, April 9th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $130.29.

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.