LPL Financial LLC Buys 2,460 Shares of Ares Management Co. (NYSE:ARES)

LPL Financial LLC grew its stake in Ares Management Co. (NYSE:ARES – Get Rating) by 6.9% during the 4th quarter, HoldingsChannel reports. The fund owned 38,164 shares of the asset manager’s stock after purchasing an additional 2,460 shares during the quarter. LPL Financial LLC’s holdings in Ares Management were worth $2,612,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ARES. Price T Rowe Associates Inc. MD lifted its holdings in Ares Management by 808.6% in the second quarter. Price T Rowe Associates Inc. MD now owns 544,164 shares of the asset manager’s stock valued at $30,941,000 after acquiring an additional 484,275 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Ares Management by 3.4% in the 1st quarter. Vanguard Group Inc. now owns 14,038,275 shares of the asset manager’s stock worth $1,140,328,000 after purchasing an additional 458,646 shares during the period. Goldman Sachs Group Inc. boosted its holdings in shares of Ares Management by 45.8% in the 2nd quarter. Goldman Sachs Group Inc. now owns 1,231,985 shares of the asset manager’s stock worth $70,051,000 after purchasing an additional 387,039 shares during the period. Sumitomo Mitsui Trust Holdings Inc. purchased a new position in shares of Ares Management in the 4th quarter worth approximately $26,201,000. Finally, ExodusPoint Capital Management LP boosted its holdings in shares of Ares Management by 563.9% in the 3rd quarter. ExodusPoint Capital Management LP now owns 349,539 shares of the asset manager’s stock worth $21,654,000 after purchasing an additional 296,886 shares during the period. 47.96% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on ARES shares. Piper Sandler boosted their price objective on Ares Management from $86.00 to $97.00 and gave the company an “overweight” rating in a report on Monday, February 13th. Barclays boosted their price objective on Ares Management from $98.00 to $108.00 in a report on Monday, May 1st. BMO Capital Markets boosted their price objective on Ares Management from $89.00 to $91.00 and gave the company a “market perform” rating in a report on Friday, February 10th. The Goldman Sachs Group boosted their price objective on Ares Management from $89.00 to $98.00 and gave the company a “buy” rating in a report on Friday, February 10th. Finally, TheStreet upgraded Ares Management from a “c+” rating to a “b-” rating in a report on Thursday, April 13th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $97.44.

Insider Transactions at Ares Management

In other news, Director Antoinette Cook Bush acquired 1,234 shares of the business’s stock in a transaction dated Friday, May 12th. The shares were purchased at an average price of $81.69 per share, with a total value of $100,805.46. Following the transaction, the director now directly owns 18,369 shares in the company, valued at $1,500,563.61. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Ares Management news, insider Ryan Berry sold 15,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 17th. The shares were sold at an average price of $82.95, for a total transaction of $1,244,250.00. Following the sale, the insider now owns 514,661 shares of the company’s stock, valued at approximately $42,691,129.95. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Antoinette Cook Bush bought 1,234 shares of the company’s stock in a transaction on Friday, May 12th. The shares were bought at an average cost of $81.69 per share, for a total transaction of $100,805.46. Following the transaction, the director now owns 18,369 shares in the company, valued at approximately $1,500,563.61. The disclosure for this purchase can be found here. Insiders have bought a total of 2,159,448 shares of company stock valued at $47,345,633 in the last 90 days. Insiders own 47.38% of the company’s stock.

Ares Management Price Performance

ARES opened at $83.64 on Friday. The business’s 50-day moving average is $81.45 and its two-hundred day moving average is $78.69. Ares Management Co. has a 1 year low of $53.15 and a 1 year high of $90.28. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.00 and a quick ratio of 1.00. The firm has a market capitalization of $25.29 billion, a PE ratio of 76.04, a price-to-earnings-growth ratio of 0.86 and a beta of 1.31.

Ares Management (NYSE:ARES – Get Rating) last issued its quarterly earnings data on Friday, April 28th. The asset manager reported $0.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.82 by ($0.11). Ares Management had a return on equity of 16.79% and a net margin of 6.84%. The firm had revenue of $813.36 million during the quarter, compared to analysts’ expectations of $694.04 million. During the same period in the previous year, the firm earned $0.65 EPS. Research analysts anticipate that Ares Management Co. will post 3.65 earnings per share for the current fiscal year.

Ares Management Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 30th. Stockholders of record on Friday, June 16th will be given a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a dividend yield of 3.68%. The ex-dividend date is Thursday, June 15th. Ares Management’s payout ratio is currently 280.00%.

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.