Ares Management Llc Purchases 300,000 Shares of Ares Management Co. (NYSE:ARES) Stock

Ares Management Co. (NYSE:ARESGet Rating) major shareholder Ares Management Llc bought 300,000 shares of Ares Management stock in a transaction dated Thursday, January 19th. The shares were acquired at an average cost of $1.33 per share, with a total value of $399,000.00. Following the completion of the purchase, the insider now owns 52,401,580 shares in the company, valued at $69,694,101.40. The acquisition was disclosed in a filing with the SEC, which is available through this link. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Ares Management Llc also recently made the following trade(s):

  • On Tuesday, January 17th, Ares Management Llc bought 400,000 shares of Ares Management stock. The shares were acquired at an average cost of $1.36 per share, with a total value of $544,000.00.
  • On Friday, January 13th, Ares Management Llc bought 330,000 shares of Ares Management stock. The shares were acquired at an average cost of $1.39 per share, with a total value of $458,700.00.

Ares Management Stock Up 3.6 %

Shares of ARES opened at $78.63 on Friday. Ares Management Co. has a 52-week low of $53.15 and a 52-week high of $86.06. The company has a market capitalization of $23.13 billion, a PE ratio of 88.35, a price-to-earnings-growth ratio of 0.69 and a beta of 1.29. The stock has a fifty day simple moving average of $73.23 and a two-hundred day simple moving average of $71.50. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.63.

Ares Management (NYSE:ARESGet Rating) last released its quarterly earnings results on Thursday, October 27th. The asset manager reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.01. The business had revenue of $609.56 million during the quarter, compared to analysts’ expectations of $636.07 million. Ares Management had a return on equity of 14.90% and a net margin of 5.08%. During the same period in the prior year, the business posted $0.62 EPS. As a group, equities analysts forecast that Ares Management Co. will post 3.23 EPS for the current year.

Ares Management Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 30th. Stockholders of record on Friday, December 16th were issued a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a dividend yield of 3.10%. The ex-dividend date was Thursday, December 15th. Ares Management’s dividend payout ratio is presently 274.16%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on ARES shares. Morgan Stanley upped their target price on Ares Management from $76.00 to $82.00 and gave the stock an “equal weight” rating in a research note on Monday, October 31st. BMO Capital Markets downgraded Ares Management from an “outperform” rating to a “market perform” rating and set a $93.00 price objective for the company. in a research note on Monday, November 14th. Royal Bank of Canada increased their price objective on Ares Management from $83.00 to $93.00 and gave the company an “outperform” rating in a research note on Tuesday, November 1st. Piper Sandler reduced their price objective on Ares Management to $86.00 in a research note on Tuesday, November 1st. Finally, Wells Fargo & Company increased their price objective on Ares Management from $78.00 to $81.00 and gave the company an “overweight” rating in a research note on Friday, October 28th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Ares Management has a consensus rating of “Moderate Buy” and a consensus price target of $86.88.

Hedge Funds Weigh In On Ares Management

A number of hedge funds have recently modified their holdings of the business. Cambridge Investment Research Advisors Inc. boosted its holdings in Ares Management by 68.0% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 6,485 shares of the asset manager’s stock valued at $527,000 after acquiring an additional 2,624 shares during the period. Bank of Montreal Can boosted its holdings in Ares Management by 172.3% during the 1st quarter. Bank of Montreal Can now owns 32,899 shares of the asset manager’s stock valued at $2,690,000 after acquiring an additional 20,816 shares during the period. MetLife Investment Management LLC acquired a new stake in Ares Management in the 1st quarter valued at about $684,000. BlackRock Inc. raised its position in Ares Management by 0.7% in the 1st quarter. BlackRock Inc. now owns 6,191,021 shares of the asset manager’s stock valued at $502,895,000 after purchasing an additional 45,745 shares in the last quarter. Finally, Great West Life Assurance Co. Can raised its position in Ares Management by 12.4% in the 1st quarter. Great West Life Assurance Co. Can now owns 7,460 shares of the asset manager’s stock valued at $645,000 after purchasing an additional 825 shares in the last quarter. 47.96% of the stock is currently owned by hedge funds and other institutional investors.

About Ares Management

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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.

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Insider Buying and Selling by Quarter for Ares Management (NYSE:ARES)

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