Ares Management Llc Buys 168,692 Shares of Ares Management Co. (NYSE:ARES) Stock

Posted by MarketBeat News on Mar 17th, 2023

Ares Management Co. (NYSE:ARES – Get Rating) major shareholder Ares Management Llc acquired 168,692 shares of the company’s stock in a transaction on Monday, March 13th. The shares were bought at an average cost of $23.77 per share, with a total value of $4,009,808.84. Following the acquisition, the insider now directly owns 35,373,824 shares in the company, valued at $840,835,796.48. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

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

On Monday, January 30th, Ares Management Llc acquired 500,000 shares of Ares Management stock. The shares were bought at an average cost of $1.79 per share, with a total value of $895,000.00.
On Friday, January 27th, Ares Management Llc acquired 525,902 shares of Ares Management stock. The shares were bought at an average cost of $1.80 per share, with a total value of $946,623.60.
On Wednesday, January 25th, Ares Management Llc acquired 875,000 shares of Ares Management stock. The shares were bought at an average cost of $1.56 per share, with a total value of $1,365,000.00.
On Monday, January 23rd, Ares Management Llc acquired 730,000 shares of Ares Management stock. The shares were bought at an average cost of $1.65 per share, with a total value of $1,204,500.00.
On Thursday, January 19th, Ares Management Llc bought 300,000 shares of Ares Management stock. The shares were acquired at an average price of $1.33 per share, for a total transaction of $399,000.00.
On Tuesday, January 17th, Ares Management Llc bought 400,000 shares of Ares Management stock. The shares were acquired at an average price of $1.36 per share, for a total transaction 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 price of $1.39 per share, for a total transaction of $458,700.00.

Ares Management Price Performance

Shares of ARES stock opened at $76.27 on Friday. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.98 and a quick ratio of 0.98. The company has a market capitalization of $22.63 billion, a P/E ratio of 89.73, a P/E/G ratio of 0.61 and a beta of 1.34. The company’s 50-day simple moving average is $80.18 and its two-hundred day simple moving average is $74.81. Ares Management Co. has a one year low of $53.15 and a one year high of $87.50.

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Ares Management (NYSE:ARES – Get Rating) last issued its earnings results on Thursday, February 9th. The asset manager reported $1.21 EPS for the quarter, topping analysts’ consensus estimates of $1.07 by $0.14. The business had revenue of $937.72 million for the quarter, compared to the consensus estimate of $813.69 million. Ares Management had a net margin of 5.48% and a return on equity of 16.82%. During the same period in the prior year, the firm earned $0.85 EPS. As a group, equities analysts anticipate that Ares Management Co. will post 4.02 EPS for the current year.

Ares Management Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 31st. Shareholders of record on Friday, March 17th will be paid a $0.77 dividend. This is an increase from Ares Management’s previous quarterly dividend of $0.61. This represents a $3.08 dividend on an annualized basis and a yield of 4.04%. The ex-dividend date is Thursday, March 16th. Ares Management’s dividend payout ratio is currently 287.06%.

Hedge Funds Weigh In On Ares Management

A number of hedge funds have recently added to or reduced their stakes in ARES. Geneos Wealth Management Inc. grew its stake in Ares Management by 300.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 400 shares of the asset manager’s stock worth $32,000 after acquiring an additional 300 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Ares Management by 951.0% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 515 shares of the asset manager’s stock valued at $35,000 after purchasing an additional 466 shares in the last quarter. Hexagon Capital Partners LLC boosted its stake in shares of Ares Management by 2,395.7% during the third quarter. Hexagon Capital Partners LLC now owns 574 shares of the asset manager’s stock valued at $36,000 after purchasing an additional 551 shares in the last quarter. Benjamin F. Edwards & Company Inc. bought a new position in shares of Ares Management during the third quarter valued at approximately $43,000. Finally, Zions Bancorporation N.A. bought a new position in shares of Ares Management during the fourth quarter valued at approximately $46,000. 47.96% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently issued reports on ARES. Royal Bank of Canada upped their target price on shares of Ares Management from $93.00 to $100.00 and gave the company an “outperform” rating in a research report on Tuesday, February 14th. Piper Sandler upped their target price on shares of Ares Management from $86.00 to $97.00 and gave the company an “overweight” rating in a research report on Monday, February 13th. Wells Fargo & Company increased their price objective on shares of Ares Management from $81.00 to $92.00 and gave the stock an “overweight” rating in a research report on Friday, February 10th. Morgan Stanley increased their price objective on shares of Ares Management from $82.00 to $88.00 and gave the stock an “equal weight” rating in a research report on Monday, February 13th. Finally, BMO Capital Markets increased their price objective on shares of Ares Management from $89.00 to $91.00 and gave the stock a “market perform” rating in a research report on Friday, February 10th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $95.00.

Ares Management Company Profile

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Ares Management Corp. is engaged in providing investment management and consultancy services. It operates through the following segments: Credit Group, Private Equity Group and Real Estate Group. The Credit Group segment offers credit strategies across the liquid and illiquid spectrum, including syndicated bank loans, high yield bonds, credit opportunities, special situations, asset-backed investments and U.S.