Horizon Investments LLC Purchases Shares of 4,422 Ares Management Corporation $ARES

Horizon Investments LLC purchased a new stake in Ares Management Corporation (NYSE:ARES) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 4,422 shares of the asset manager’s stock, valued at approximately $715,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Redmont Wealth Advisors LLC acquired a new stake in shares of Ares Management in the third quarter valued at about $40,000. Atlantic Edge Private Wealth Management LLC acquired a new stake in shares of Ares Management in the fourth quarter valued at about $42,000. Washington Trust Advisors Inc. acquired a new stake in shares of Ares Management in the third quarter valued at about $50,000. First Horizon Corp acquired a new stake in shares of Ares Management in the third quarter valued at about $51,000. Finally, Covestor Ltd increased its position in shares of Ares Management by 182.6% in the third quarter. Covestor Ltd now owns 421 shares of the asset manager’s stock valued at $67,000 after acquiring an additional 272 shares during the last quarter. Institutional investors and hedge funds own 50.03% of the company’s stock.

Insider Buying and Selling

In other Ares Management news, Director Judy D. Olian purchased 480 shares of Ares Management stock in a transaction that occurred on Friday, February 20th. The stock was acquired at an average price of $124.43 per share, for a total transaction of $59,726.40. Following the completion of the acquisition, the director owned 29,734 shares of the company’s stock, valued at approximately $3,699,801.62. This trade represents a 1.64% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 36.86% of the company’s stock.

Ares Management Trading Down 0.6%

Ares Management stock opened at $123.17 on Friday. Ares Management Corporation has a 52 week low of $95.80 and a 52 week high of $195.26. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.22 and a current ratio of 1.22. The stock has a market capitalization of $40.58 billion, a P/E ratio of 57.29, a PEG ratio of 1.08 and a beta of 1.50. The stock has a 50-day simple moving average of $110.48 and a 200 day simple moving average of $139.03.

Ares Management (NYSE:ARES) last posted its quarterly earnings results on Friday, May 1st. The asset manager reported $1.24 EPS for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.08). Ares Management had a return on equity of 22.02% and a net margin of 10.54%.The business had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.28 billion. During the same quarter in the previous year, the business posted $1.09 EPS. Analysts expect that Ares Management Corporation will post 6.06 earnings per share for the current year.

Ares Management Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 16th will be issued a dividend of $1.35 per share. The ex-dividend date is Tuesday, June 16th. This represents a $5.40 dividend on an annualized basis and a yield of 4.4%. Ares Management’s dividend payout ratio (DPR) is presently 251.16%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on ARES. Barclays lifted their target price on Ares Management from $127.00 to $140.00 and gave the company an “overweight” rating in a research report on Monday. Oppenheimer reaffirmed an “outperform” rating and issued a $146.00 target price (down from $147.00) on shares of Ares Management in a research report on Monday. BMO Capital Markets lowered their target price on Ares Management from $140.00 to $112.00 and set a “market perform” rating on the stock in a research report on Tuesday, March 24th. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Ares Management in a research report on Wednesday, April 29th. Finally, The Goldman Sachs Group lowered their target price on Ares Management from $165.00 to $131.00 and set a “buy” rating on the stock in a research report on Tuesday, April 7th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $166.06.

Ares Management 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.