AlTi Global Inc. Makes New $418,000 Investment in Ares Management Corporation $ARES

AlTi Global Inc. bought a new position in shares of Ares Management Corporation (NYSE:ARES) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 2,416 shares of the asset manager’s stock, valued at approximately $418,000.

Several other institutional investors have also recently made changes to their positions in the stock. Paragon Advisors LLC lifted its position in shares of Ares Management by 41.3% during the second quarter. Paragon Advisors LLC now owns 17,960 shares of the asset manager’s stock worth $3,111,000 after acquiring an additional 5,248 shares in the last quarter. Whittier Trust Co. increased its holdings in shares of Ares Management by 13.4% in the second quarter. Whittier Trust Co. now owns 2,274 shares of the asset manager’s stock worth $394,000 after purchasing an additional 269 shares during the period. Klingman & Associates LLC increased its holdings in shares of Ares Management by 14.9% in the second quarter. Klingman & Associates LLC now owns 3,028 shares of the asset manager’s stock worth $524,000 after purchasing an additional 392 shares during the period. DekaBank Deutsche Girozentrale increased its holdings in shares of Ares Management by 1.3% in the second quarter. DekaBank Deutsche Girozentrale now owns 44,740 shares of the asset manager’s stock worth $7,770,000 after purchasing an additional 595 shares during the period. Finally, Stephens Inc. AR increased its holdings in shares of Ares Management by 3.9% in the second quarter. Stephens Inc. AR now owns 59,413 shares of the asset manager’s stock worth $10,290,000 after purchasing an additional 2,256 shares during the period. Hedge funds and other institutional investors own 50.03% of the company’s stock.

Ares Management Stock Up 0.7%

ARES opened at $149.42 on Friday. The stock has a market cap of $48.82 billion, a PE ratio of 86.37, a P/E/G ratio of 1.18 and a beta of 1.43. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.64. Ares Management Corporation has a 52 week low of $110.63 and a 52 week high of $200.49. The business’s fifty day simple moving average is $166.89 and its 200 day simple moving average is $167.96.

Ares Management (NYSE:ARES) last posted its quarterly earnings results on Friday, August 1st. The asset manager reported $1.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.15 by ($0.12). Ares Management had a net margin of 9.47% and a return on equity of 15.81%. The business had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.02 billion. During the same quarter in the previous year, the company earned $0.99 earnings per share. As a group, research analysts expect that Ares Management Corporation will post 5.28 earnings per share for the current fiscal year.

Ares Management Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th were given a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a yield of 3.0%. The ex-dividend date was Tuesday, September 16th. Ares Management’s dividend payout ratio is presently 258.96%.

Insider Transactions at Ares Management

In other Ares Management news, Chairman Antony P. Ressler sold 128,837 shares of the company’s stock in a transaction dated Wednesday, September 10th. The shares were sold at an average price of $178.30, for a total transaction of $22,971,637.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold 2,590,000 shares of company stock worth $464,430,639 in the last ninety days. Corporate insiders own 36.86% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. JMP Securities upped their price target on shares of Ares Management from $195.00 to $205.00 and gave the stock a “market outperform” rating in a report on Wednesday, August 6th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $215.00 price target on shares of Ares Management in a report on Monday, September 29th. Barclays decreased their price target on shares of Ares Management from $200.00 to $187.00 and set an “overweight” rating on the stock in a report on Wednesday, October 8th. Cfra Research raised shares of Ares Management to a “moderate buy” rating in a report on Monday, August 4th. Finally, Keefe, Bruyette & Woods upped their price target on shares of Ares Management from $193.00 to $203.00 and gave the stock an “outperform” rating in a report on Monday, August 4th. Thirteen equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $181.93.

Ares Management Profile

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.