Ares Management Corporation $ARES Stock Purchased by Fulcrum Asset Management LLP

Fulcrum Asset Management LLP raised its stake in Ares Management Corporation (NYSE:ARES) by 82.2% in the third quarter, according to the company in its most recent disclosure 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 institutional investors have also recently made changes to their positions in the company. Vulcan Value Partners LLC increased its stake in shares of Ares Management by 12.5% during the 2nd quarter. Vulcan Value Partners LLC now owns 1,902,580 shares of the asset manager’s stock worth $211,776,000 after purchasing an additional 211,404 shares during the last quarter. Janus Henderson Group PLC increased its position in Ares Management by 43.8% during the first quarter. Janus Henderson Group PLC now owns 1,653,078 shares of the asset manager’s stock worth $180,343,000 after buying an additional 503,688 shares during the last quarter. Curated Wealth Partners LLC raised its stake in Ares Management by 968.3% in 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 buying an additional 1,315,043 shares during the period. Hamlin Capital Management LLC raised its stake in Ares Management by 6.6% in the third quarter. Hamlin Capital Management LLC now owns 1,022,899 shares of the asset manager’s stock valued at $118,830,000 after buying an additional 63,265 shares during the period. Finally, ICG Advisors LLC bought a new stake in Ares Management in the third quarter valued at approximately $98,392,000. Institutional investors and hedge funds own 50.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. JPMorgan Chase & Co. reduced their target price on Ares Management from $155.00 to $154.00 and set an “overweight” rating for the company in a research note on Friday, October 30th. The Goldman Sachs Group decreased their target price on Ares Management from $145.00 to $139.00 and set a “buy” rating on the stock in a report on Friday, October 2nd. Jefferies Financial Group dropped their price target on Ares Management from $144.00 to $132.00 and set a “hold” rating on the stock in a research note on Tuesday, October 6th. Wells Fargo & Company raised their price target on Ares Management from $136.00 to $141.00 and gave the company an “overweight” rating in a report on Friday, October 30th. Finally, Keefe, Bruyette & Woods raised their price target on Ares Management from $119.00 to $130.00 and gave the company a “market perform” rating in a report on Friday, October 30th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat, Ares Management presently has an average rating of “Moderate Buy” and an average target price of $146.21.

Ares Management Stock Down 1.0%

Ares Management stock opened at $138.08 on Thursday. The stock has a market cap of $45.61 billion, a P/E ratio of 26.60, a P/E/G 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 twelve month low of $95.80 and a twelve month high of $181.19. The company’s 50-day moving average price is $125.00 and its two-hundred day moving average price is $124.07.

Ares Management (NYSE:ARES) last issued its quarterly earnings data on Thursday, October 29th. The asset manager reported $1.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.25 by $0.01. Ares Management had a return on equity of 25.81% and a net margin of 7.51%. The company had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.24 billion. During the same quarter in the previous year, the company posted $1.15 earnings per share. The business’s revenue was down 13.5% on a year-over-year basis. As a group, analysts expect that Ares Management Corporation will post 5.70 EPS for the current 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 issued a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 3.9%. The ex-dividend date of this dividend is Thursday, December 17th. Ares Management’s dividend payout ratio (DPR) is presently 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.