Y Intercept Hong Kong Ltd Purchases Shares of 9,341 Ares Management Corporation $ARES

Y Intercept Hong Kong Ltd acquired a new stake in Ares Management Corporation (NYSE:ARES) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 9,341 shares of the asset manager’s stock, valued at approximately $1,494,000.

A number of other hedge funds have also recently made changes to their positions in ARES. Vanguard Group Inc. raised its holdings in shares of Ares Management by 9.1% in the 2nd quarter. Vanguard Group Inc. now owns 20,936,367 shares of the asset manager’s stock worth $3,626,179,000 after acquiring an additional 1,746,376 shares during the last quarter. Geode Capital Management LLC increased its holdings in Ares Management by 7.6% during the 2nd quarter. Geode Capital Management LLC now owns 3,454,083 shares of the asset manager’s stock worth $596,280,000 after purchasing an additional 244,286 shares in the last quarter. Norges Bank purchased a new stake in shares of Ares Management in the second quarter worth approximately $328,910,000. Winslow Capital Management LLC bought a new position in shares of Ares Management in the second quarter valued at approximately $161,774,000. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Ares Management by 8.3% during the second quarter. Charles Schwab Investment Management Inc. now owns 796,472 shares of the asset manager’s stock valued at $137,949,000 after buying an additional 61,317 shares during the last quarter. 50.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently commented on ARES shares. TD Cowen reissued a “buy” rating on shares of Ares Management in a research report on Wednesday, January 14th. Oppenheimer reiterated an “outperform” rating and issued a $224.00 target price on shares of Ares Management in a report on Tuesday, January 20th. UBS Group cut their price target on shares of Ares Management from $201.00 to $198.00 and set a “neutral” rating on the stock in a report on Tuesday, January 13th. BMO Capital Markets began coverage on shares of Ares Management in a research report on Friday, October 3rd. They issued a “market perform” rating and a $156.00 price objective for the company. Finally, Keefe, Bruyette & Woods lifted their target price on shares of Ares Management from $188.00 to $189.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 4th. Twelve research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, Ares Management presently has a consensus rating of “Moderate Buy” and a consensus price target of $194.79.

Insider Transactions at Ares Management

In other Ares Management news, CEO Michael J. Arougheti sold 56,257 shares of the business’s stock in a transaction on Monday, December 1st. The stock was sold at an average price of $157.26, for a total value of $8,846,975.82. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders sold 590,000 shares of company stock valued at $90,653,808 over the last three months. Company insiders own 36.86% of the company’s stock.

Ares Management Stock Performance

NYSE ARES opened at $149.73 on Friday. The company has a market capitalization of $48.94 billion, a PE ratio of 64.26, a price-to-earnings-growth ratio of 0.87 and a beta of 1.53. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.22 and a current ratio of 0.22. Ares Management Corporation has a 52-week low of $110.63 and a 52-week high of $200.49. The company has a 50-day simple moving average of $165.01 and a 200 day simple moving average of $166.93.

Ares Management (NYSE:ARES) last released its earnings results on Friday, October 31st. The asset manager reported $1.19 earnings per share for the quarter, beating analysts’ consensus estimates of $1.14 by $0.05. Ares Management had a net margin of 11.72% and a return on equity of 16.33%. The firm had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same period in the prior year, the firm earned $0.55 EPS. On average, research analysts predict that Ares Management Corporation will post 5.28 EPS for the current year.

Ares Management Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 17th were given a $0.8438 dividend. This represents a $3.38 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend was Wednesday, December 17th. Ares Management’s dividend payout ratio (DPR) is currently 192.27%.

Ares Management 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.