EFG Asset Management Americas Corp. Has $2.87 Million Stake in Ares Management Corporation $ARES

EFG Asset Management Americas Corp. boosted its holdings in Ares Management Corporation (NYSE:ARES) by 5.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 16,557 shares of the asset manager’s stock after buying an additional 791 shares during the period. EFG Asset Management Americas Corp.’s holdings in Ares Management were worth $2,868,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of ARES. Financial Network Wealth Advisors LLC bought a new stake in shares of Ares Management during the 1st quarter valued at $31,000. Ameritas Advisory Services LLC bought a new stake in Ares Management in the second quarter valued at about $43,000. Banque Transatlantique SA acquired a new position in Ares Management in the first quarter valued at about $39,000. SouthState Corp acquired a new position in Ares Management in the first quarter valued at about $48,000. Finally, GW&K Investment Management LLC boosted its holdings in Ares Management by 69.5% during the first quarter. GW&K Investment Management LLC now owns 373 shares of the asset manager’s stock worth $55,000 after buying an additional 153 shares during the last quarter. Institutional investors and hedge funds own 50.03% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on ARES. Barclays lowered their price target on Ares Management from $200.00 to $187.00 and set an “overweight” rating for the company in a research note on Wednesday, October 8th. Bank of America increased their target price on shares of Ares Management from $196.00 to $197.00 and gave the stock a “buy” rating in a report on Friday, October 3rd. Royal Bank Of Canada reissued an “outperform” rating and issued a $215.00 price target on shares of Ares Management in a report on Monday, September 29th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Ares Management in a research note on Monday. Finally, Cfra Research upgraded Ares Management to a “moderate buy” rating in a report on Monday, August 4th. Thirteen equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Ares Management currently has a consensus rating of “Moderate Buy” and a consensus price target of $187.46.

Insider Activity

In other news, Chairman Antony P. Ressler sold 128,837 shares of the stock in a transaction that occurred on Wednesday, September 10th. The stock was sold at an average price of $178.30, for a total value of $22,971,637.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last quarter, insiders sold 1,989,059 shares of company stock worth $355,167,794. Corporate insiders own 36.86% of the company’s stock.

Ares Management Stock Performance

Shares of ARES opened at $145.22 on Thursday. The stock has a market capitalization of $47.47 billion, a price-to-earnings ratio of 83.94, a PEG ratio of 1.19 and a beta of 1.45. Ares Management Corporation has a 12 month low of $110.63 and a 12 month high of $200.49. The firm has a fifty day simple moving average of $156.36 and a 200 day simple moving average of $168.71. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.64.

Ares Management (NYSE:ARES) last announced its quarterly earnings data on Friday, October 31st. The asset manager reported $1.19 earnings per share for the quarter, beating the consensus estimate of $1.14 by $0.05. Ares Management had a return on equity of 15.81% and a net margin of 9.47%.The company had revenue of $1.66 billion during the quarter, compared to analysts’ expectations of $1.03 billion. During the same quarter last year, the company earned $0.55 EPS. Research analysts forecast that Ares Management Corporation will post 5.28 EPS for the current fiscal year.

Ares Management Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 17th will be given a dividend of $0.8438 per share. The ex-dividend date of this dividend is Wednesday, December 17th. This represents a $3.38 annualized dividend and a dividend yield of 2.3%. Ares Management’s payout ratio is 192.27%.

About Ares Management

Ares Management Corporation operates as an alternative asset manager in the United States, Europe, and Asia. The company's Tradable Credit Group segment manages various types of investment funds, such as commingled and separately managed accounts for institutional investors, and publicly traded vehicles and sub-advised funds for retail investors in the tradable and non-investment grade corporate credit markets.