Ares Management Corporation $ARES Shares Purchased by Engineers Gate Manager LP

Engineers Gate Manager LP boosted its stake in shares of Ares Management Corporation (NYSE:ARES) by 23.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 66,486 shares of the asset manager’s stock after purchasing an additional 12,791 shares during the quarter. Engineers Gate Manager LP’s holdings in Ares Management were worth $7,401,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of ARES. RFG Advisory LLC grew its position in shares of Ares Management by 34.6% during the second quarter. RFG Advisory LLC now owns 13,196 shares of the asset manager’s stock worth $1,469,000 after buying an additional 3,392 shares in the last quarter. Baird Financial Group Inc. increased its stake in shares of Ares Management by 5.0% during the second quarter. Baird Financial Group Inc. now owns 7,992 shares of the asset manager’s stock worth $890,000 after buying an additional 384 shares during the period. Vulcan Value Partners LLC raised its holdings in Ares Management by 12.5% in the second quarter. Vulcan Value Partners LLC now owns 1,902,580 shares of the asset manager’s stock valued at $211,776,000 after acquiring an additional 211,404 shares in the last quarter. Arizona State Retirement System raised its holdings in Ares Management by 2.1% in the second quarter. Arizona State Retirement System now owns 60,169 shares of the asset manager’s stock valued at $6,697,000 after acquiring an additional 1,240 shares in the last quarter. Finally, Nykredit A S purchased a new position in Ares Management in the second quarter worth approximately $6,728,000. Institutional investors and hedge funds own 50.03% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Wall Street Zen cut shares of Ares Management from a “hold” rating to a “sell” rating in a report on Saturday, July 4th. Citigroup reaffirmed a “market outperform” rating on shares of Ares Management in a research report on Monday, August 3rd. TD Cowen boosted their target price on shares of Ares Management from $153.00 to $155.00 and gave the stock a “buy” rating in a research note on Monday, August 3rd. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $144.00 target price on shares of Ares Management in a report on Monday, August 3rd. Finally, Citizens Jmp cut their price target on Ares Management from $190.00 to $160.00 and set a “market outperform” rating on the stock in a research note on Thursday, July 9th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $160.47.

Ares Management Stock Performance

Shares of Ares Management stock opened at $131.93 on Friday. The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 1.00. Ares Management Corporation has a 52 week low of $95.80 and a 52 week high of $186.85. The firm’s 50 day moving average is $133.40 and its two-hundred day moving average is $122.51. The firm has a market capitalization of $43.57 billion, a P/E ratio of 60.52, a P/E/G ratio of 1.13 and a beta of 1.49.

Ares Management (NYSE:ARES) last issued its quarterly earnings data on Friday, July 31st. The asset manager reported $1.29 earnings per share for the quarter, topping the consensus estimate of $1.28 by $0.01. The business had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.27 billion. Ares Management had a net margin of 10.63% and a return on equity of 25.42%. The company’s revenue was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.03 EPS. Research analysts forecast that Ares Management Corporation will post 5.93 EPS for the current fiscal year.

Ares Management Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 16th will be issued a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 4.1%. The ex-dividend date of this dividend is Wednesday, September 16th. Ares Management’s payout ratio is presently 247.71%.

About Ares Management

Ares Management Corporation is a global alternative investment manager that provides investment solutions across credit, private equity, real assets and secondaries. The company manages capital for institutional investors, financial intermediaries and individual investors through a range of private funds, public-market strategies and other investment vehicles.

Its investment activities include direct lending and other forms of private credit, corporate and growth-oriented private equity, real estate and infrastructure investments, and secondary-market transactions involving private investment interests.