Tredje AP fonden Invests $3.75 Million in Ares Management Corporation $ARES

Tredje AP fonden bought a new stake in Ares Management Corporation (NYSE:ARES) in the fourth quarter, HoldingsChannel reports. The firm bought 23,221 shares of the asset manager’s stock, valued at approximately $3,753,000.

Several other hedge funds also recently made changes to their positions in ARES. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Ares Management by 5.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,344 shares of the asset manager’s stock worth $197,000 after purchasing an additional 70 shares during the period. Fulcrum Asset Management LLP lifted its position in Ares Management by 1.7% during the third quarter. Fulcrum Asset Management LLP now owns 4,321 shares of the asset manager’s stock valued at $691,000 after buying an additional 72 shares during the period. Oppenheimer Asset Management Inc. lifted its position in Ares Management by 1.3% during the third quarter. Oppenheimer Asset Management Inc. now owns 5,921 shares of the asset manager’s stock valued at $947,000 after buying an additional 76 shares during the period. Whittier Trust Co. of Nevada Inc. boosted its holdings in shares of Ares Management by 13.8% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 685 shares of the asset manager’s stock valued at $104,000 after buying an additional 83 shares in the last quarter. Finally, U.S. Capital Wealth Advisors LLC grew its position in shares of Ares Management by 3.2% in the 4th quarter. U.S. Capital Wealth Advisors LLC now owns 2,666 shares of the asset manager’s stock worth $431,000 after buying an additional 83 shares during the period. 50.03% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on ARES. Morgan Stanley decreased their price target on shares of Ares Management from $178.00 to $163.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 21st. Wall Street Zen cut shares of Ares Management from a “hold” rating to a “sell” rating in a report on Saturday, February 28th. The Goldman Sachs Group decreased their target price on shares of Ares Management from $165.00 to $131.00 and set a “buy” rating for the company in a research note on Tuesday, April 7th. Deutsche Bank Aktiengesellschaft upgraded shares of Ares Management from a “hold” rating to a “buy” rating and lowered their target price for the company from $182.00 to $155.00 in a report on Friday, February 6th. Finally, Zacks Research upgraded Ares Management from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 5th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $162.56.

Insider Buying and Selling at Ares Management

In other Ares Management news, Director Judy D. Olian acquired 480 shares of the company’s stock in a transaction that occurred on Friday, February 20th. The stock was bought at an average price of $124.43 per share, for a total transaction of $59,726.40. Following the acquisition, the director directly owned 29,734 shares in the company, valued at $3,699,801.62. The trade was a 1.64% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.52% of the company’s stock.

Ares Management Price Performance

Shares of NYSE:ARES opened at $121.12 on Wednesday. Ares Management Corporation has a twelve month low of $95.80 and a twelve month high of $195.26. The firm’s 50 day moving average price is $112.01 and its 200-day moving average price is $137.60. The stock has a market capitalization of $39.95 billion, a PE ratio of 56.33, a price-to-earnings-growth ratio of 1.08 and a beta of 1.50. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.96.

Ares Management (NYSE:ARES) last posted its quarterly earnings data on Friday, May 1st. The asset manager reported $1.24 earnings per share for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.08). The company had revenue of $1.40 billion for the quarter, compared to analysts’ expectations of $1.28 billion. Ares Management had a net margin of 10.54% and a return on equity of 22.14%. During the same period in the previous year, the firm earned $1.09 earnings per share. Equities research analysts expect that Ares Management Corporation will post 6.05 EPS for the current year.

Ares Management Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 16th will be paid a dividend of $1.35 per share. The ex-dividend date of this dividend is Tuesday, June 16th. This represents a $5.40 dividend on an annualized basis and a yield of 4.5%. Ares Management’s dividend payout ratio is presently 251.16%.

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.