Ares Management Co. (NYSE:ARES) Shares Acquired by Russell Investments Group Ltd.

Russell Investments Group Ltd. grew its position in Ares Management Co. (NYSE:ARES – Get Rating) by 77.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 14,093 shares of the asset manager’s stock after acquiring an additional 6,147 shares during the period. Russell Investments Group Ltd.’s holdings in Ares Management were worth $965,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of ARES. Price T Rowe Associates Inc. MD increased its stake in shares of Ares Management by 808.6% during the second quarter. Price T Rowe Associates Inc. MD now owns 544,164 shares of the asset manager’s stock worth $30,941,000 after purchasing an additional 484,275 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Ares Management by 3.4% during the first 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 in the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Ares Management by 45.8% during the second 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 in the last quarter. Sumitomo Mitsui Trust Holdings Inc. purchased a new stake in shares of Ares Management during the fourth quarter worth about $26,201,000. Finally, ExodusPoint Capital Management LP grew its stake in Ares Management by 563.9% during the 3rd quarter. ExodusPoint Capital Management LP now owns 349,539 shares of the asset manager’s stock valued at $21,654,000 after acquiring an additional 296,886 shares in the last quarter. Institutional investors and hedge funds own 47.96% of the company’s stock.

Insider Activity

In related news, Director Judy D. Olian sold 1,200 shares of the stock in a transaction on Tuesday, May 23rd. The shares were sold at an average price of $85.59, for a total value of $102,708.00. Following the transaction, the director now directly owns 28,997 shares of the company’s stock, valued at approximately $2,481,853.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Ares Management news, Director Corporate Opportunities F. Ares sold 7,000,000 shares of the firm’s stock in a transaction on Tuesday, May 16th. The shares were sold at an average price of $24.36, for a total transaction of $170,520,000.00. Following the transaction, the director now directly owns 7,326,090 shares of the company’s stock, valued at approximately $178,463,552.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Judy D. Olian sold 1,200 shares of the firm’s stock in a transaction on Tuesday, May 23rd. The stock was sold at an average price of $85.59, for a total transaction of $102,708.00. Following the completion of the sale, the director now owns 28,997 shares of the company’s stock, valued at approximately $2,481,853.23. The disclosure for this sale can be found here. In the last three months, insiders have bought 2,159,448 shares of company stock worth $47,345,633 and have sold 7,198,170 shares worth $187,010,895. Company insiders own 47.38% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Piper Sandler upped their price objective on shares of Ares Management from $86.00 to $97.00 and gave the company an “overweight” rating in a research note on Monday, February 13th. TheStreet raised shares of Ares Management from a “c+” rating to a “b-” rating in a research note on Thursday, April 13th. Royal Bank of Canada increased their price target on shares of Ares Management from $100.00 to $105.00 in a research note on Tuesday, May 2nd. Barclays increased their price target on shares of Ares Management from $98.00 to $108.00 in a research note on Monday, May 1st. Finally, The Goldman Sachs Group increased their price target on shares of Ares Management from $89.00 to $98.00 and gave the company a “buy” rating in a research note on Friday, February 10th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, Ares Management currently has an average rating of “Moderate Buy” and an average price target of $97.44.

Ares Management Price Performance

Ares Management stock opened at $84.28 on Friday. The firm has a market cap of $25.49 billion, a PE ratio of 76.62, a price-to-earnings-growth ratio of 0.89 and a beta of 1.31. Ares Management Co. has a 52-week low of $53.15 and a 52-week high of $90.28. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.61. The company’s 50 day moving average is $82.20 and its two-hundred day moving average is $78.88.

Ares Management (NYSE:ARES – Get Rating) last announced its quarterly earnings data on Friday, April 28th. The asset manager reported $0.71 earnings per share for the quarter, missing analysts’ consensus estimates of $0.82 by ($0.11). Ares Management had a net margin of 6.84% and a return on equity of 16.79%. The firm had revenue of $813.36 million during the quarter, compared to analyst estimates of $694.04 million. During the same quarter in the previous year, the business posted $0.65 earnings per share. On average, research analysts expect that Ares Management Co. will post 3.6 EPS 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 issued a $0.77 dividend. The ex-dividend date is Thursday, June 15th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 3.65%. Ares Management’s payout ratio is 280.00%.

About Ares Management

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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.