Legal & General Group Plc Grows Holdings in Ares Management Corporation $ARES

Legal & General Group Plc boosted its holdings in Ares Management Corporation (NYSE:ARES) by 16.3% in the 4th quarter, Holdings Channel reports. The firm owned 1,105,403 shares of the asset manager’s stock after purchasing an additional 154,608 shares during the period. Legal & General Group Plc’s holdings in Ares Management were worth $178,666,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Redmont Wealth Advisors LLC purchased a new stake in Ares Management in the 3rd quarter valued at $40,000. Atlantic Edge Private Wealth Management LLC purchased a new stake in Ares Management in the 4th quarter valued at $42,000. Elyxium Wealth LLC acquired a new position in Ares Management in the 4th quarter valued at $42,000. Washington Trust Advisors Inc. acquired a new position in Ares Management in the 3rd quarter valued at $50,000. Finally, Leonteq Securities AG acquired a new position in Ares Management in the 4th quarter valued at $70,000. Hedge funds and other institutional investors own 50.03% of the company’s stock.

Ares Management Stock Performance

NYSE:ARES opened at $126.75 on Thursday. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.96. Ares Management Corporation has a fifty-two week low of $95.80 and a fifty-two week high of $195.26. The stock has a market cap of $41.81 billion, a PE ratio of 58.95, a price-to-earnings-growth ratio of 1.10 and a beta of 1.50. The firm’s fifty day simple moving average is $114.57 and its 200-day simple moving average is $136.47.

Ares Management (NYSE:ARES) last posted its quarterly earnings results on Friday, May 1st. The asset manager reported $1.24 earnings per share for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.08). Ares Management had a return on equity of 22.14% and a net margin of 10.54%.The company had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.28 billion. During the same period last year, the company earned $1.09 earnings per share. Analysts expect that Ares Management Corporation will post 6.06 earnings per share for the current fiscal year.

Ares Management Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th will be paid a dividend of $1.35 per share. The ex-dividend date of this dividend is Tuesday, June 16th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.3%. Ares Management’s dividend payout ratio is 251.16%.

Wall Street Analyst Weigh In

ARES has been the topic of several recent research reports. Morgan Stanley dropped their price objective on shares of Ares Management from $178.00 to $163.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 21st. Citizens Jmp dropped their price objective on shares of Ares Management from $205.00 to $190.00 and set a “market outperform” rating on the stock in a research note on Wednesday, April 22nd. Deutsche Bank Aktiengesellschaft raised shares of Ares Management from a “hold” rating to a “buy” rating and dropped their price objective for the company from $182.00 to $155.00 in a research note on Friday, February 6th. UBS Group set a $148.00 price objective on shares of Ares Management in a research note on Friday, February 20th. Finally, BMO Capital Markets dropped their price objective on shares of Ares Management from $140.00 to $112.00 and set a “market perform” rating on the stock in a research note on Tuesday, March 24th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $162.56.

Ares Management Company Profile

Ares Management Corporation (NYSE: ARES) is a global alternative asset manager that provides investment solutions across credit, private equity and real estate. The firm originates and manages capital across a range of strategies including direct lending, syndicated and special situations credit, private equity buyouts and growth investments, and real estate equity and debt. Ares serves institutional investors, insurance companies, pension funds, sovereign wealth funds, and high‑net‑worth clients through both commingled funds and bespoke managed account structures.

Within credit, Ares offers strategies spanning leveraged loans, structured credit, opportunistic and distressed debt, and specialty finance, with an emphasis on underwriting, portfolio construction and active asset management.