Public Employees Retirement System of Ohio Invests $6.25 Million in Ares Management Corporation $ARES

Public Employees Retirement System of Ohio bought a new stake in Ares Management Corporation (NYSE:ARES) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 56,104 shares of the asset manager’s stock, valued at approximately $6,245,000.

A number of other institutional investors have also made changes to their positions in ARES. Osbon Capital Management LLC acquired a new position in Ares Management during the 4th quarter worth about $32,000. Elyxium Wealth LLC acquired a new stake in Ares Management in the 4th quarter valued at about $42,000. Summit Securities Group LLC acquired a new stake in Ares Management in the 4th quarter valued at about $49,000. Western Wealth Management LLC bought a new position in shares of Ares Management in the first quarter worth about $50,000. Finally, Cassaday & Co Wealth Management LLC bought a new position in shares of Ares Management in the first quarter worth about $55,000. 50.03% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $144.00 price target on shares of Ares Management in a research note on Monday, August 3rd. JPMorgan Chase & Co. upped their price objective on Ares Management from $143.00 to $153.00 and gave the stock an “overweight” rating in a report on Monday, August 3rd. TD Cowen increased their price objective on Ares Management from $153.00 to $155.00 and gave the company a “buy” rating in a research report on Monday, August 3rd. Zacks Research raised Ares Management from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 5th. Finally, Oppenheimer boosted their target price on Ares Management from $151.00 to $162.00 and gave the stock an “outperform” rating in a research report on Thursday, August 27th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, Ares Management currently has an average rating of “Moderate Buy” and a consensus price target of $160.47.

Ares Management Stock Down 3.2%

Shares of NYSE:ARES opened at $138.54 on Wednesday. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.26 and a quick ratio of 0.26. The stock has a market cap of $45.76 billion, a price-to-earnings ratio of 63.55, a P/E/G ratio of 1.24 and a beta of 1.49. The company has a 50 day moving average of $129.51 and a 200-day moving average of $122.13. Ares Management Corporation has a one year low of $95.80 and a one year high of $186.85.

Ares Management (NYSE:ARES) last announced its quarterly earnings data on Friday, July 31st. The asset manager reported $1.29 earnings per share for the quarter, beating the consensus estimate of $1.28 by $0.01. Ares Management had a net margin of 10.63% and a return on equity of 25.42%. The business had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.27 billion. During the same period in the prior year, the business posted $1.03 earnings per share. Ares Management’s revenue was up 5.8% compared to the same quarter last year. On average, sell-side analysts forecast that Ares Management Corporation will post 5.94 earnings per share for the current year.

Ares Management Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 16th will be paid a $1.35 dividend. The ex-dividend date of this dividend is Wednesday, September 16th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 3.9%. Ares Management’s dividend payout ratio is 247.71%.

Ares Management Company Profile

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.