8,189 Shares in Ares Management Corporation $ARES Bought by Allstate Corp

Allstate Corp purchased a new stake in Ares Management Corporation (NYSE:ARES) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 8,189 shares of the asset manager’s stock, valued at approximately $1,309,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ARES. Exchange Traded Concepts LLC boosted its stake in shares of Ares Management by 100.0% in the third quarter. Exchange Traded Concepts LLC now owns 190 shares of the asset manager’s stock worth $30,000 after buying an additional 95 shares during the last quarter. Elevation Point Wealth Partners LLC acquired a new position in Ares Management in the second quarter valued at approximately $35,000. Ameritas Advisory Services LLC acquired a new position in Ares Management in the second quarter valued at approximately $43,000. First Horizon Corp purchased a new stake in Ares Management in the 3rd quarter worth approximately $51,000. Finally, Geneos Wealth Management Inc. grew its stake in shares of Ares Management by 708.2% during the 1st quarter. Geneos Wealth Management Inc. now owns 493 shares of the asset manager’s stock worth $72,000 after purchasing an additional 432 shares during the period. 50.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ARES has been the subject of several recent analyst reports. Cowen reaffirmed a “buy” rating on shares of Ares Management in a report on Wednesday, January 14th. BMO Capital Markets assumed coverage on shares of Ares Management in a report on Friday, October 3rd. They issued a “market perform” rating and a $156.00 price objective on the stock. Barclays increased their target price on Ares Management from $218.00 to $222.00 and gave the stock an “overweight” rating in a research note on Friday, January 9th. UBS Group lowered their target price on Ares Management from $201.00 to $198.00 and set a “neutral” rating for the company in a research note on Tuesday, January 13th. Finally, Royal Bank Of Canada restated an “outperform” rating and issued a $215.00 price target on shares of Ares Management in a research note on Monday, September 29th. Thirteen research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Ares Management presently has an average rating of “Moderate Buy” and an average target price of $194.57.

Ares Management Price Performance

Shares of NYSE:ARES opened at $163.17 on Wednesday. Ares Management Corporation has a one year low of $110.63 and a one year high of $200.49. The stock has a market capitalization of $53.33 billion, a price-to-earnings ratio of 70.03, a PEG ratio of 0.98 and a beta of 1.53. The company has a 50-day simple moving average of $163.82 and a 200-day simple moving average of $168.12. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.22 and a current ratio of 0.22.

Ares Management (NYSE:ARES) last issued its quarterly earnings results on Friday, October 31st. The asset manager reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.14 by $0.05. The firm had revenue of $1.66 billion for the quarter, compared to analysts’ expectations of $1.03 billion. Ares Management had a return on equity of 16.33% and a net margin of 11.72%.During the same quarter in the previous year, the firm posted $0.55 EPS. On average, analysts predict that Ares Management Corporation will post 5.28 EPS for the current year.

Ares Management Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 17th were issued a $0.8438 dividend. The ex-dividend date of this dividend was Wednesday, December 17th. This represents a $3.38 dividend on an annualized basis and a dividend yield of 2.1%. Ares Management’s payout ratio is presently 192.27%.

Insider Activity at Ares Management

In related news, CEO Michael J. Arougheti sold 56,257 shares of Ares Management stock in a transaction on Monday, December 1st. The shares were sold at an average price of $157.26, for a total value of $8,846,975.82. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders sold a total of 590,000 shares of company stock worth $90,653,808 in the last three months. 0.52% of the stock is owned by corporate insiders.

Ares Management 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.