Ares Management Corporation $ARES Stake Reduced by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio cut its stake in Ares Management Corporation (NYSE:ARES) by 42.1% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 54,769 shares of the asset manager’s stock after selling 39,758 shares during the period. Public Employees Retirement System of Ohio’s holdings in Ares Management were worth $5,975,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of Ares Management by 20.2% in the 4th quarter. Vanguard Group Inc. now owns 26,050,425 shares of the asset manager’s stock worth $4,210,530,000 after acquiring an additional 4,373,955 shares during the period. Norges Bank acquired a new position in Ares Management during the 4th quarter valued at about $396,165,000. Geode Capital Management LLC grew its position in Ares Management by 55.7% in the 4th quarter. Geode Capital Management LLC now owns 5,489,004 shares of the asset manager’s stock worth $883,716,000 after purchasing an additional 1,963,460 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in Ares Management by 26.3% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 5,705,599 shares of the asset manager’s stock worth $922,196,000 after purchasing an additional 1,187,174 shares during the last quarter. Finally, River Road Asset Management LLC increased its stake in shares of Ares Management by 40,652.1% in the fourth quarter. River Road Asset Management LLC now owns 807,300 shares of the asset manager’s stock valued at $130,484,000 after purchasing an additional 805,319 shares during the period. 50.03% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently issued reports on ARES shares. The Goldman Sachs Group reduced their price objective on Ares Management from $165.00 to $131.00 and set a “buy” rating for the company in a research report on Tuesday, April 7th. Citizens Jmp reduced their price target on Ares Management from $190.00 to $160.00 and set a “market outperform” rating for the company in a research report on Thursday, July 9th. TD Cowen increased their price target on Ares Management from $144.00 to $153.00 and gave the stock a “buy” rating in a research note on Tuesday, June 23rd. Barclays decreased their price target on Ares Management from $140.00 to $139.00 and set an “overweight” rating for the company in a research note on Thursday, July 9th. Finally, BMO Capital Markets raised their price target on Ares Management from $125.00 to $128.00 and gave the company a “market perform” rating in a report on Monday, July 13th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, Ares Management currently has an average rating of “Moderate Buy” and an average price target of $158.93.

Ares Management Stock Up 0.1%

ARES opened at $127.88 on Wednesday. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.23 and a current ratio of 0.23. The company has a market capitalization of $42.18 billion, a PE ratio of 59.48, a P/E/G ratio of 1.14 and a beta of 1.51. The stock’s fifty day moving average is $123.70 and its 200-day moving average is $124.66. Ares Management Corporation has a one year low of $95.80 and a one year high of $195.26.

Ares Management (NYSE:ARES) last announced its earnings results on Friday, May 1st. The asset manager reported $1.24 earnings per share for the quarter, missing the consensus estimate of $1.32 by ($0.08). The firm had revenue of $1.40 billion for the quarter, compared to the consensus estimate 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 prior year, the business earned $1.09 EPS. On average, equities analysts predict that Ares Management Corporation will post 5.98 EPS for the current fiscal year.

Ares Management Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th were issued a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date of this dividend was Tuesday, June 16th. Ares Management’s dividend payout ratio is presently 251.16%.

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.