NEOS Investment Management LLC Raises Stake in Ares Management Corporation $ARES

NEOS Investment Management LLC increased its holdings in shares of Ares Management Corporation (NYSE:ARES) by 13.6% during the 2nd quarter, HoldingsChannel reports. The fund owned 32,735 shares of the asset manager’s stock after buying an additional 3,908 shares during the period. NEOS Investment Management LLC’s holdings in Ares Management were worth $3,644,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of ARES. Triumph Capital Management lifted its holdings in shares of Ares Management by 127.3% during the second quarter. Triumph Capital Management now owns 250 shares of the asset manager’s stock valued at $28,000 after purchasing an additional 140 shares during the last quarter. Osbon Capital Management LLC bought a new stake in shares of Ares Management in the 4th quarter worth approximately $32,000. Elyxium Wealth LLC purchased a new stake in shares of Ares Management in the 4th quarter worth approximately $42,000. Summit Securities Group LLC purchased a new stake in shares of Ares Management in the 4th quarter worth approximately $49,000. Finally, Western Wealth Management LLC purchased a new stake in shares of Ares Management in the 1st quarter worth approximately $50,000. Hedge funds and other institutional investors own 50.03% of the company’s stock.

Ares Management Price Performance

Shares of NYSE ARES opened at $140.28 on Monday. Ares Management Corporation has a twelve month low of $95.80 and a twelve month high of $186.85. The firm has a market cap of $46.33 billion, a P/E ratio of 64.35, a PEG ratio of 1.21 and a beta of 1.49. The company has a 50 day moving average of $131.20 and a 200 day moving average of $122.26. 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 (NYSE:ARES) last issued its earnings results on Friday, July 31st. The asset manager reported $1.29 EPS for the quarter, beating the consensus estimate of $1.28 by $0.01. The business had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.27 billion. Ares Management had a return on equity of 25.42% and a net margin of 10.63%.The company’s revenue was up 5.8% compared to the same quarter last year. During the same period last year, the business posted $1.03 EPS. As a group, research analysts expect that Ares Management Corporation will post 5.94 EPS for the current fiscal year.

Ares Management Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 16th will be given a $1.35 dividend. The ex-dividend date of this dividend is Wednesday, September 16th. This represents a $5.40 dividend on an annualized basis and a yield of 3.8%. Ares Management’s payout ratio is 247.71%.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. JPMorgan Chase & Co. lifted their price objective on Ares Management from $143.00 to $153.00 and gave the company an “overweight” rating in a research note on Monday, August 3rd. Royal Bank Of Canada increased their target price on Ares Management from $162.00 to $168.00 and gave the stock an “outperform” rating in a research note on Monday, August 3rd. Wall Street Zen downgraded Ares Management from a “hold” rating to a “sell” rating in a report on Saturday, July 4th. TD Cowen lifted their price target on Ares Management from $153.00 to $155.00 and gave the stock a “buy” rating in a research report on Monday, August 3rd. Finally, Morgan Stanley set a $160.00 price target on shares of Ares Management in a research note on Tuesday, July 21st. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $160.47.

About Ares Management

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.