California State Teachers Retirement System Increases Stock Position in Ares Management Corporation $ARES

California State Teachers Retirement System boosted its position in Ares Management Corporation (NYSE:ARES) by 10,879.6% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 33,559,520 shares of the asset manager’s stock after acquiring an additional 33,253,867 shares during the period. California State Teachers Retirement System owned 0.10% of Ares Management worth $3,735,510,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Ares Management by 5.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,344 shares of the asset manager’s stock valued at $197,000 after acquiring an additional 70 shares during the last quarter. Wedbush Securities Inc. grew its stake in shares of Ares Management by 4.2% in the fourth quarter. Wedbush Securities Inc. now owns 2,030 shares of the asset manager’s stock worth $328,000 after purchasing an additional 81 shares during the last quarter. First Manhattan CO. LLC. increased its holdings in Ares Management by 0.5% during the 4th quarter. First Manhattan CO. LLC. now owns 17,634 shares of the asset manager’s stock valued at $2,850,000 after purchasing an additional 89 shares during the period. Root Financial Partners LLC increased its holdings in Ares Management by 17.8% during the 4th quarter. Root Financial Partners LLC now owns 642 shares of the asset manager’s stock valued at $104,000 after purchasing an additional 97 shares during the period. Finally, Marks Group Wealth Management Inc raised its position in Ares Management by 7.3% during the 4th quarter. Marks Group Wealth Management Inc now owns 1,522 shares of the asset manager’s stock valued at $246,000 after purchasing an additional 103 shares during the last quarter. Hedge funds and other institutional investors own 50.03% of the company’s stock.

Ares Management Price Performance

Shares of ARES opened at $130.68 on Friday. The company has a market capitalization of $43.16 billion, a P/E ratio of 59.94, a price-to-earnings-growth ratio of 1.16 and a beta of 1.49. The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 1.00. The firm has a 50 day moving average of $133.09 and a 200 day moving average of $122.44. Ares Management Corporation has a twelve month low of $95.80 and a twelve month high of $186.85.

Ares Management (NYSE:ARES) last announced its quarterly earnings data on Friday, July 31st. The asset manager reported $1.29 earnings per share for the quarter, topping analysts’ consensus estimates of $1.28 by $0.01. The company had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.27 billion. Ares Management had a net margin of 10.63% and a return on equity of 25.42%. The firm’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same period in the previous year, the business earned $1.03 EPS. As a group, equities research analysts anticipate that Ares Management Corporation will post 5.94 earnings per share for the current fiscal year.

Ares Management Dividend Announcement

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

Analyst Ratings Changes

Several research firms have weighed in on ARES. Oppenheimer increased their price objective on Ares Management from $151.00 to $162.00 and gave the stock an “outperform” rating in a report on Thursday, August 27th. Royal Bank Of Canada boosted their target price on Ares Management from $162.00 to $168.00 and gave the company an “outperform” rating in a research note on Monday, August 3rd. Weiss Ratings restated a “hold (c)” rating on shares of Ares Management in a report on Friday, August 21st. JPMorgan Chase & Co. raised their price target on Ares Management from $143.00 to $153.00 and gave the stock an “overweight” rating in a research note on Monday, August 3rd. Finally, Citizens Jmp cut their price target on shares of Ares Management from $190.00 to $160.00 and set a “market outperform” rating on the stock in a report on Thursday, July 9th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, Ares Management presently has a consensus rating of “Moderate Buy” and an average target price of $160.47.

Ares Management Profile

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.