52,016 Ares Management Corporation $ARES Shares Sold by M&G PLC

M&G PLC lessened its stake in Ares Management Corporation (NYSE:ARES) by 3.2% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 1,582,035 shares of the asset manager’s stock after selling 52,016 shares during the quarter. M&G PLC’s holdings in Ares Management were worth $183,516,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Curated Wealth Partners LLC boosted its stake 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 valued at $168,546,000 after buying an additional 1,315,043 shares during the period. ICG Advisors LLC purchased a new position in shares of Ares Management during the 3rd quarter valued at $98,392,000. Janus Henderson Group PLC grew its holdings 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 valued at $180,343,000 after acquiring an additional 503,688 shares in the last quarter. Advent International L.P. increased its stake in shares of Ares Management by 9,353.6% in the first quarter. Advent International L.P. now owns 428,720 shares of the asset manager’s stock worth $46,773,000 after acquiring an additional 424,185 shares during the last quarter. Finally, Junto Capital Management LP acquired a new position in shares of Ares Management in the second quarter worth $40,084,000. Hedge funds and other institutional investors own 50.03% of the company’s stock.

Ares Management Stock Performance

Shares of NYSE ARES opened at $139.78 on Tuesday. The business’s 50-day simple moving average is $125.08 and its 200-day simple moving average is $124.27. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.26 and a current ratio of 0.26. Ares Management Corporation has a 52 week low of $95.80 and a 52 week high of $181.19. The firm has a market cap of $46.17 billion, a price-to-earnings ratio of 26.12, a P/E/G ratio of 1.22 and a beta of 1.49.

Ares Management (NYSE:ARES) last posted its earnings results on Thursday, October 29th. The asset manager reported $1.26 earnings per share for the quarter, topping the consensus estimate of $1.25 by $0.01. The firm had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.24 billion. Ares Management had a return on equity of 25.74% and a net margin of 7.51%. The company’s revenue for the quarter was down 13.5% on a year-over-year basis. During the same period in the previous year, the company earned $1.15 EPS. As a group, equities research analysts expect that Ares Management Corporation will post 5.70 earnings per share for the current fiscal year.

Ares Management Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Thursday, December 17th will be given a $1.35 dividend. The ex-dividend date of this dividend is Thursday, December 17th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 3.9%. Ares Management’s dividend payout ratio (DPR) is currently 435.48%.

Analysts Set New Price Targets

ARES has been the subject of several recent research reports. TD Cowen cut their price objective on Ares Management from $159.00 to $158.00 and set a “buy” rating for the company in a report on Friday, October 30th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $144.00 target price (up from $140.00) on shares of Ares Management in a research note on Monday, August 3rd. Citigroup reaffirmed a “market outperform” rating on shares of Ares Management in a research report on Friday, October 30th. Rothschild & Co Redburn lifted their price target on Ares Management from $134.00 to $138.00 and gave the company a “neutral” rating in a report on Tuesday, August 4th. Finally, Royal Bank Of Canada lifted their price target on Ares Management from $168.00 to $171.00 and gave the company an “outperform” rating in a report on Friday, October 30th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $146.21.

Ares Management Company Profile

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.

Co-founder Michael Arougheti is the company’s chief executive officer.