ICG Advisors LLC acquired a new position in shares of Ares Management Corporation (NYSE:ARES – Free Report) during the 3rd quarter, Holdings Channel.com reports. The fund acquired 846,967 shares of the asset manager’s stock, valued at approximately $98,392,000. Ares Management accounts for approximately 71.8% of ICG Advisors LLC’s investment portfolio, making the stock its biggest position.
Other institutional investors and hedge funds have also modified their holdings of the company. Curated Wealth Partners LLC lifted its holdings in shares of Ares Management by 968.3% during the third quarter. Curated Wealth Partners LLC now owns 1,450,854 shares of the asset manager’s stock valued at $168,546,000 after acquiring an additional 1,315,043 shares during the period. Janus Henderson Group PLC boosted its stake in shares of Ares Management by 43.8% in the 1st quarter. Janus Henderson Group PLC now owns 1,653,078 shares of the asset manager’s stock valued at $180,343,000 after purchasing an additional 503,688 shares in the last quarter. Advent International L.P. grew its holdings in shares of Ares Management by 9,353.6% in the 1st quarter. Advent International L.P. now owns 428,720 shares of the asset manager’s stock worth $46,773,000 after purchasing an additional 424,185 shares during the last quarter. Munich Reinsurance Co Stock Corp in Munich bought a new stake in shares of Ares Management in the 1st quarter worth about $44,773,000. Finally, Junto Capital Management LP bought a new stake in shares of Ares Management in the 2nd quarter worth about $40,084,000. 50.03% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
ARES has been the subject of several analyst reports. Citizens Jmp cut their price target on shares of Ares Management from $190.00 to $160.00 and set a “market outperform” rating for the company in a report on Thursday, July 9th. TD Cowen reduced their price target on shares of Ares Management from $163.00 to $159.00 and set a “buy” rating on the stock in a research report on Monday, October 12th. BMO Capital Markets upped their price objective on shares of Ares Management from $128.00 to $134.00 and gave the stock a “market perform” rating in a research note on Monday, August 3rd. Keefe, Bruyette & Woods raised shares of Ares Management to a “hold” rating in a report on Monday, July 20th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $144.00 price objective on shares of Ares Management in a report on Monday, August 3rd. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $154.25.
Check Out Our Latest Report on Ares Management
Ares Management Price Performance
Ares Management stock opened at $112.87 on Tuesday. The business’s fifty day moving average is $129.61 and its two-hundred day moving average is $124.51. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.26 and a current ratio of 0.26. The firm has a market cap of $37.28 billion, a P/E ratio of 21.72, a P/E/G ratio of 1.01 and a beta of 1.53. Ares Management Corporation has a 52 week low of $95.80 and a 52 week high of $181.19.
Ares Management (NYSE:ARES – Get Free Report) last announced its earnings results on Friday, July 31st. The asset manager reported $1.29 earnings per share for the quarter, beating analysts’ consensus estimates of $1.28 by $0.01. Ares Management had a return on equity of 25.42% and a net margin of 10.63%. The company had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.27 billion. During the same period last year, the company posted $1.03 earnings per share. The firm’s quarterly revenue was up 5.8% compared to the same quarter last year. Equities research analysts forecast that Ares Management Corporation will post 5.80 earnings per share for the current fiscal year.
Ares Management Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 16th were issued a dividend of $1.35 per share. The ex-dividend date of this dividend was Wednesday, September 16th. This represents a $5.40 dividend on an annualized basis and a yield of 4.8%. Ares Management’s dividend payout ratio is currently 247.71%.
Ares Management News Summary
Here are the key news stories impacting Ares Management this week:
- Positive Sentiment: Ares agreed to acquire Infinity Transportation, a North American railcar and intermodal-equipment lessor, from KKR for an enterprise value of approximately $2.9 billion. The deal expands Ares’ exposure to transportation infrastructure and recurring leasing cash flows through Ares Infrastructure Equity and Ares Insurance Solutions funds. The transaction requires customary closing conditions and regulatory approvals. KKR to Sell Infinity Transportation to Ares for $2.9 Billion
- Positive Sentiment: Ares acquired a stake in Statera’s UK energy portfolio, which totals approximately 1.9 gigawatts. The investment strengthens Ares’ position in power and energy infrastructure and could benefit from long-term demand for electricity and energy-transition assets. Ares Acquires Stake in Statera’s 1.9 GW UK Energy Portfolio
- Positive Sentiment: Piper Sandler lowered its Ares price target from $150 to $143 but maintained an Overweight rating. The revised target still implies substantial upside from the referenced share price, indicating continued analyst confidence despite more cautious valuation assumptions.
- Neutral Sentiment: Ares has reportedly hired bankers in connection with Rio Tinto’s potential $7 billion asset auction. The move could create another sizable investment opportunity, but the report is preliminary and does not confirm that Ares will win any transaction. Global credit manager Ares hires bankers for Rio Tinto’s $7b auction
Ares Management Company Profile
Ares Management Corporation (NYSE: ARES) is a global alternative investment manager that provides investment solutions across credit, private equity, real assets and secondaries. The company manages capital on behalf of institutional investors, pension funds, insurance companies, sovereign wealth funds, family offices and individual investors.
Its investment activities include direct lending and other credit strategies, control and minority investments in private companies, real estate and infrastructure investments, and secondary-market transactions involving private assets and fund interests.
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