Strs Ohio Reduces Stock Position in Ares Management Corporation $ARES

Strs Ohio reduced its holdings in shares of Ares Management Corporation (NYSE:ARES) by 6.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 161,899 shares of the asset manager’s stock after selling 11,898 shares during the quarter. Strs Ohio’s holdings in Ares Management were worth $25,886,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. AQR Capital Management LLC raised its holdings in Ares Management by 116.7% in the first quarter. AQR Capital Management LLC now owns 10,360 shares of the asset manager’s stock valued at $1,519,000 after acquiring an additional 5,579 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Ares Management by 5.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,344 shares of the asset manager’s stock worth $197,000 after acquiring an additional 70 shares in the last quarter. Empowered Funds LLC increased its position in shares of Ares Management by 42.7% in the 1st quarter. Empowered Funds LLC now owns 6,197 shares of the asset manager’s stock worth $909,000 after purchasing an additional 1,853 shares during the last quarter. Focus Partners Wealth raised its stake in shares of Ares Management by 15.3% in the 1st quarter. Focus Partners Wealth now owns 1,902 shares of the asset manager’s stock valued at $279,000 after purchasing an additional 252 shares in the last quarter. Finally, Geneos Wealth Management Inc. lifted its position in shares of Ares Management by 708.2% during the first quarter. Geneos Wealth Management Inc. now owns 493 shares of the asset manager’s stock worth $72,000 after purchasing an additional 432 shares during the last quarter. Institutional investors and hedge funds own 50.03% of the company’s stock.

Ares Management Trading Down 3.5%

NYSE:ARES opened at $155.81 on Friday. The firm has a market capitalization of $50.93 billion, a P/E ratio of 66.87, a P/E/G ratio of 0.93 and a beta of 1.53. The business has a 50 day simple moving average of $164.44 and a 200 day simple moving average of $167.90. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.22 and a quick ratio of 0.22. 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, beating analysts’ consensus estimates of $1.14 by $0.05. Ares Management had a return on equity of 16.33% and a net margin of 11.72%.The company had revenue of $1.66 billion for the quarter, compared to analysts’ expectations of $1.03 billion. During the same period last year, the business posted $0.55 earnings per share. Equities research analysts predict that Ares Management Corporation will post 5.28 EPS for the current year.

Ares Management Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Wednesday, December 17th were given a $0.8438 dividend. The ex-dividend date was Wednesday, December 17th. This represents a $3.38 annualized dividend and a yield of 2.2%. Ares Management’s dividend payout ratio (DPR) is currently 192.27%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on ARES shares. Weiss Ratings reissued a “hold (c)” rating on shares of Ares Management in a report on Monday, December 29th. Keefe, Bruyette & Woods lifted their target price on Ares Management from $188.00 to $189.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 4th. Bank of America upped their price target on Ares Management from $196.00 to $197.00 and gave the company a “buy” rating in a research report on Friday, October 3rd. Barclays lifted their price objective on shares of Ares Management from $218.00 to $222.00 and gave the stock an “overweight” rating in a report on Friday, January 9th. Finally, BMO Capital Markets initiated coverage on shares of Ares Management in a report on Friday, October 3rd. They set a “market perform” rating and a $156.00 target price on the stock. Twelve equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $194.57.

Insider Transactions at Ares Management

In other Ares Management news, CEO Michael J. Arougheti sold 186,197 shares of the company’s stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $152.75, for a total value of $28,441,591.75. Following the completion of the transaction, the chief executive officer owned 290,997 shares in the company, valued at approximately $44,449,791.75. This represents a 39.02% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Over the last ninety days, insiders have sold 590,000 shares of company stock worth $90,653,808. Insiders own 36.86% of the company’s stock.

Ares Management Company 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.