Vicus Capital Makes New Investment in Ares Management Corporation $ARES

Vicus Capital acquired a new stake in Ares Management Corporation (NYSE:ARES) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 1,577 shares of the asset manager’s stock, valued at approximately $273,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of ARES. PFG Investments LLC bought a new stake in shares of Ares Management in the second quarter worth about $256,000. LBP AM SA bought a new position in Ares Management during the 2nd quarter valued at approximately $4,230,000. Truist Financial Corp lifted its holdings in Ares Management by 3.5% in the 2nd quarter. Truist Financial Corp now owns 602,743 shares of the asset manager’s stock worth $104,395,000 after buying an additional 20,636 shares during the period. HB Wealth Management LLC grew its position in shares of Ares Management by 7.9% in the 2nd quarter. HB Wealth Management LLC now owns 5,312 shares of the asset manager’s stock worth $920,000 after buying an additional 389 shares during the last quarter. Finally, Janney Montgomery Scott LLC grew its position in shares of Ares Management by 1.4% in the 2nd quarter. Janney Montgomery Scott LLC now owns 109,817 shares of the asset manager’s stock worth $19,020,000 after buying an additional 1,500 shares during the last quarter. 50.03% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Ares Management news, Chairman Antony P. Ressler sold 128,837 shares of Ares Management stock in a transaction dated Wednesday, September 10th. The shares were sold at an average price of $178.30, for a total value of $22,971,637.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last three months, insiders have sold 2,590,000 shares of company stock worth $464,430,639. 36.86% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities analysts recently commented on ARES shares. JMP Securities upped their target price on Ares Management from $195.00 to $205.00 and gave the company a “market outperform” rating in a report on Wednesday, August 6th. Keefe, Bruyette & Woods raised their target price on shares of Ares Management from $193.00 to $203.00 and gave the stock an “outperform” rating in a research report on Monday, August 4th. Cfra Research upgraded shares of Ares Management to a “moderate buy” rating in a research report on Monday, August 4th. Citigroup reissued an “outperform” rating on shares of Ares Management in a research note on Monday, July 14th. Finally, Wells Fargo & Company lifted their price objective on Ares Management from $189.00 to $202.00 and gave the company an “overweight” rating in a research report on Friday, July 11th. Thirteen analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Ares Management has an average rating of “Moderate Buy” and an average target price of $182.73.

Ares Management Stock Performance

Ares Management stock opened at $150.73 on Friday. Ares Management Corporation has a twelve month low of $110.63 and a twelve month high of $200.49. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.64. The company has a market capitalization of $49.25 billion, a P/E ratio of 87.13, a PEG ratio of 1.21 and a beta of 1.43. The stock’s 50 day moving average is $179.85 and its 200 day moving average is $167.17.

Ares Management (NYSE:ARES) last released its earnings results on Friday, August 1st. The asset manager reported $1.03 EPS for the quarter, missing the consensus estimate of $1.15 by ($0.12). Ares Management had a return on equity of 15.81% and a net margin of 9.47%.The company had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.02 billion. During the same period last year, the firm posted $0.99 earnings per share. On average, equities research analysts predict that Ares Management Corporation will post 5.28 earnings per share for the current fiscal year.

Ares Management Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th were given a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend was Tuesday, September 16th. Ares Management’s dividend payout ratio is 258.96%.

About Ares Management

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.