AlTi Global Inc. Invests $418,000 in Ares Management Corporation $ARES

AlTi Global Inc. bought a new position in shares of Ares Management Corporation (NYSE:ARES) in the second quarter, HoldingsChannel reports. The firm bought 2,416 shares of the asset manager’s stock, valued at approximately $418,000.

A number of other institutional investors also recently modified their holdings of ARES. Cambridge Investment Research Advisors Inc. boosted its holdings in shares of Ares Management by 40.7% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 7,960 shares of the asset manager’s stock worth $1,167,000 after purchasing an additional 2,302 shares during the period. Oppenheimer Asset Management Inc. boosted its holdings in shares of Ares Management by 17.5% during the first quarter. Oppenheimer Asset Management Inc. now owns 5,798 shares of the asset manager’s stock worth $850,000 after purchasing an additional 865 shares during the period. Spire Wealth Management boosted its holdings in shares of Ares Management by 2.5% during the first quarter. Spire Wealth Management now owns 5,028 shares of the asset manager’s stock worth $737,000 after purchasing an additional 123 shares during the period. Bessemer Group Inc. boosted its holdings in shares of Ares Management by 1.8% during the first quarter. Bessemer Group Inc. now owns 4,360 shares of the asset manager’s stock worth $639,000 after purchasing an additional 78 shares during the period. Finally, Sequoia Financial Advisors LLC boosted its holdings in shares of Ares Management by 4.3% during the first quarter. Sequoia Financial Advisors LLC now owns 3,112 shares of the asset manager’s stock worth $456,000 after purchasing an additional 127 shares during the period. 50.03% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently weighed in on ARES. JMP Securities increased their target price on shares of Ares Management from $195.00 to $205.00 and gave the stock a “market outperform” rating in a report on Wednesday, August 6th. Citigroup restated a “market outperform” rating on shares of Ares Management in a report on Tuesday. Barclays lowered their price objective on shares of Ares Management from $200.00 to $187.00 and set an “overweight” rating for the company in a report on Wednesday, October 8th. Keefe, Bruyette & Woods raised their price objective on shares of Ares Management from $193.00 to $203.00 and gave the stock an “outperform” rating in a report on Monday, August 4th. Finally, Oppenheimer set a $180.00 price objective on shares of Ares Management and gave the stock an “outperform” rating in a report on Tuesday, October 14th. Thirteen research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, Ares Management presently has an average rating of “Moderate Buy” and a consensus target price of $181.93.

Ares Management Price Performance

Shares of NYSE ARES opened at $149.42 on Friday. Ares Management Corporation has a fifty-two week low of $110.63 and a fifty-two week high of $200.49. The company has a 50 day simple moving average of $166.89 and a two-hundred day simple moving average of $167.96. The company has a market capitalization of $48.82 billion, a price-to-earnings ratio of 86.37, a P/E/G ratio of 1.18 and a beta of 1.43. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.08 and a current ratio of 1.08.

Ares Management (NYSE:ARES) last announced its earnings results on Friday, August 1st. The asset manager reported $1.03 earnings per share for the quarter, missing analysts’ consensus estimates of $1.15 by ($0.12). Ares Management had a net margin of 9.47% and a return on equity of 15.81%. The business had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.02 billion. During the same period in the prior year, the business posted $0.99 EPS. Analysts expect that Ares Management Corporation will post 5.28 EPS for the current fiscal year.

Ares Management Announces Dividend

The company also recently declared 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. The ex-dividend date of this dividend was Tuesday, September 16th. This represents a $4.48 annualized dividend and a dividend yield of 3.0%. Ares Management’s dividend payout ratio (DPR) is 258.96%.

Insider Buying and Selling at Ares Management

In related news, Chairman Antony P. Ressler sold 128,837 shares of the firm’s stock in a transaction that occurred on Wednesday, September 10th. The shares were sold at an average price of $178.30, for a total transaction of $22,971,637.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold a total of 2,590,000 shares of company stock worth $464,430,639 over the last ninety days. 36.86% of the stock is owned by company insiders.

Ares Management Company Profile

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.