Saba Capital Management L.P. Purchases Shares of 241,097 Ares Management Corporation $ARES

Saba Capital Management L.P. purchased a new position in Ares Management Corporation (NYSE:ARES) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 241,097 shares of the asset manager’s stock, valued at approximately $26,304,000. Ares Management comprises 0.7% of Saba Capital Management L.P.’s investment portfolio, making the stock its 21st largest position.

Other hedge funds also recently bought and sold shares of the company. Quilter Plc boosted its stake in shares of Ares Management by 5.6% during the 4th quarter. Quilter Plc now owns 704,069 shares of the asset manager’s stock worth $113,799,000 after purchasing an additional 37,366 shares during the period. New York Life Investment Management LLC raised its position in Ares Management by 1,033.1% in the 4th quarter. New York Life Investment Management LLC now owns 28,272 shares of the asset manager’s stock worth $4,570,000 after purchasing an additional 25,777 shares during the period. Osprey Private Wealth LLC raised its position in Ares Management by 25.6% in the 4th quarter. Osprey Private Wealth LLC now owns 64,530 shares of the asset manager’s stock worth $10,430,000 after purchasing an additional 13,165 shares during the period. Vanguard Group Inc. raised its position in Ares Management by 20.2% in the 4th quarter. Vanguard Group Inc. now owns 26,050,425 shares of the asset manager’s stock worth $4,210,530,000 after purchasing an additional 4,373,955 shares during the period. Finally, M&T Bank Corp lifted its stake in Ares Management by 169.3% in the fourth quarter. M&T Bank Corp now owns 26,526 shares of the asset manager’s stock worth $4,287,000 after purchasing an additional 16,677 shares during the last quarter. Hedge funds and other institutional investors own 50.03% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on ARES shares. Citizens Jmp dropped their price objective on Ares Management from $190.00 to $160.00 and set a “market outperform” rating for the company in a report on Thursday, July 9th. Barclays reduced their target price on Ares Management from $140.00 to $139.00 and set an “overweight” rating on the stock in a research note on Thursday, July 9th. Royal Bank Of Canada reiterated an “outperform” rating on shares of Ares Management in a research report on Wednesday, April 29th. Zacks Research raised shares of Ares Management from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 5th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Ares Management in a report on Tuesday, May 26th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $158.93.

Ares Management Stock Up 1.1%

NYSE:ARES opened at $127.85 on Tuesday. Ares Management Corporation has a fifty-two week low of $95.80 and a fifty-two week high of $195.26. The stock has a market capitalization of $42.17 billion, a P/E ratio of 59.46, a P/E/G ratio of 1.13 and a beta of 1.51. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.23 and a current ratio of 0.23. The company’s 50-day simple moving average is $123.57 and its 200-day simple moving average is $124.96.

Ares Management (NYSE:ARES) last announced its earnings results on Friday, May 1st. The asset manager reported $1.24 earnings per share for the quarter, missing the consensus estimate of $1.32 by ($0.08). Ares Management had a return on equity of 22.14% and a net margin of 10.54%.The business had revenue of $1.40 billion for the quarter, compared to analysts’ expectations of $1.28 billion. During the same quarter last year, the firm earned $1.09 earnings per share. On average, equities analysts anticipate that Ares Management Corporation will post 5.98 earnings per share for the current fiscal year.

Ares Management Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th were given a dividend of $1.35 per share. The ex-dividend date of this dividend was Tuesday, June 16th. This represents a $5.40 dividend on an annualized basis and a yield of 4.2%. Ares Management’s dividend payout ratio (DPR) is currently 251.16%.

About Ares Management

Ares Management Corporation (NYSE: ARES) is a global alternative asset manager that provides investment solutions across credit, private equity and real estate. The firm originates and manages capital across a range of strategies including direct lending, syndicated and special situations credit, private equity buyouts and growth investments, and real estate equity and debt. Ares serves institutional investors, insurance companies, pension funds, sovereign wealth funds, and high‑net‑worth clients through both commingled funds and bespoke managed account structures.

Within credit, Ares offers strategies spanning leveraged loans, structured credit, opportunistic and distressed debt, and specialty finance, with an emphasis on underwriting, portfolio construction and active asset management.