Fulcrum Asset Management LLP boosted its holdings in Ares Management Corporation (NYSE:ARES – Free Report) by 82.2% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,304 shares of the asset manager’s stock after purchasing an additional 4,198 shares during the quarter. Fulcrum Asset Management LLP’s holdings in Ares Management were worth $1,107,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Vulcan Value Partners LLC boosted its holdings in Ares Management by 12.5% in the 2nd quarter. Vulcan Value Partners LLC now owns 1,902,580 shares of the asset manager’s stock valued at $211,776,000 after purchasing an additional 211,404 shares during the period. Janus Henderson Group PLC grew its position in shares of Ares Management by 43.8% during the 1st quarter. Janus Henderson Group PLC now owns 1,653,078 shares of the asset manager’s stock worth $180,343,000 after purchasing an additional 503,688 shares in the last quarter. Curated Wealth Partners LLC grew its position in shares of Ares Management by 968.3% during the 3rd quarter. Curated Wealth Partners LLC now owns 1,450,854 shares of the asset manager’s stock worth $168,546,000 after purchasing an additional 1,315,043 shares in the last quarter. Hamlin Capital Management LLC increased its holdings in shares of Ares Management by 6.6% during the third quarter. Hamlin Capital Management LLC now owns 1,022,899 shares of the asset manager’s stock worth $118,830,000 after purchasing an additional 63,265 shares during the period. Finally, ICG Advisors LLC bought a new position in shares of Ares Management during the third quarter worth approximately $98,392,000. Institutional investors and hedge funds own 50.03% of the company’s stock.
Analyst Ratings Changes
ARES has been the subject of a number of analyst reports. Wells Fargo & Company lifted their price target on shares of Ares Management from $136.00 to $141.00 and gave the company an “overweight” rating in a research report on Friday, October 30th. Weiss Ratings cut Ares Management from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday. Oppenheimer increased their price target on Ares Management from $151.00 to $162.00 and gave the stock an “outperform” rating in a research report on Thursday, August 27th. Royal Bank Of Canada raised their price objective on Ares Management from $168.00 to $171.00 and gave the stock an “outperform” rating in a research note on Friday, October 30th. Finally, Bank of America dropped their price objective on Ares Management from $160.00 to $156.00 in a report on Monday, October 5th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat, Ares Management has an average rating of “Moderate Buy” and an average price target of $146.21.
View Our Latest Analysis on Ares Management
Ares Management Trading Down 1.0%
Shares of Ares Management stock opened at $138.08 on Thursday. The company has a market capitalization of $45.61 billion, a price-to-earnings ratio of 26.60, a PEG ratio of 1.24 and a beta of 1.49. The company has a quick ratio of 0.26, a current ratio of 0.27 and a debt-to-equity ratio of 1.11. Ares Management Corporation has a 12-month low of $95.80 and a 12-month high of $181.19. The firm’s 50-day moving average price is $125.00 and its two-hundred day moving average price is $124.07.
Ares Management (NYSE:ARES – Get Free Report) last released its earnings results on Thursday, October 29th. The asset manager reported $1.26 EPS for the quarter, beating the consensus estimate of $1.25 by $0.01. The firm had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.24 billion. Ares Management had a net margin of 7.51% and a return on equity of 25.81%. The business’s quarterly revenue was down 13.5% compared to the same quarter last year. During the same period last year, the firm earned $1.15 EPS. On average, analysts forecast that Ares Management Corporation will post 5.70 earnings per share for the current fiscal year.
Ares Management Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 31st. Investors of record on Thursday, December 17th will be given a dividend of $1.35 per share. The ex-dividend date is Thursday, December 17th. This represents a $5.40 annualized dividend and a dividend yield of 3.9%. Ares Management’s dividend payout ratio (DPR) is currently 435.48%.
About Ares Management
Ares Management Corporation is a global alternative investment manager that provides investment solutions across credit, private equity, real estate and infrastructure. Its strategies include direct lending, liquid and opportunistic credit, asset-based finance, private equity investing, and real estate debt and equity. Founded in 1997, the firm serves institutional and individual investors through investment funds and other vehicles. Ares operates across North America, Europe and the Asia-Pacific region.
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