California State Teachers Retirement System Purchases 33,253,867 Shares of Ares Management Corporation $ARES

California State Teachers Retirement System raised its holdings in shares of Ares Management Corporation (NYSE:ARES) by 10,879.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 33,559,520 shares of the asset manager’s stock after purchasing an additional 33,253,867 shares during the quarter. California State Teachers Retirement System owned approximately 10.16% of Ares Management worth $3,735,510,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Triumph Capital Management lifted its stake in Ares Management by 127.3% in the 2nd quarter. Triumph Capital Management now owns 250 shares of the asset manager’s stock worth $28,000 after purchasing an additional 140 shares in the last quarter. Osbon Capital Management LLC purchased a new position in Ares Management in the fourth quarter worth $32,000. Elyxium Wealth LLC purchased a new position in Ares Management in the fourth quarter worth $42,000. Summit Securities Group LLC bought a new position in Ares Management in the fourth quarter valued at $49,000. Finally, Western Wealth Management LLC bought a new position in Ares Management in the first quarter valued at $50,000. Institutional investors own 50.03% of the company’s stock.

Ares Management Stock Performance

NYSE ARES opened at $130.68 on Friday. The company has a 50-day simple moving average of $133.09 and a two-hundred day simple moving average of $122.44. Ares Management Corporation has a 12-month low of $95.80 and a 12-month high of $186.85. The firm has a market cap of $43.16 billion, a price-to-earnings ratio of 59.94, a PEG ratio of 1.16 and a beta of 1.49. The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 1.00.

Ares Management (NYSE:ARES) last released its quarterly earnings data on Friday, July 31st. The asset manager reported $1.29 EPS for the quarter, topping the consensus estimate of $1.28 by $0.01. Ares Management had a return on equity of 25.42% and a net margin of 10.63%.The firm had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.27 billion. During the same quarter in the previous year, the business earned $1.03 earnings per share. The company’s quarterly revenue was up 5.8% on a year-over-year basis. On average, equities analysts forecast that Ares Management Corporation will post 5.94 EPS for the current year.

Ares Management Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 16th will be paid a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date of this dividend is Wednesday, September 16th. Ares Management’s payout ratio is 247.71%.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Citigroup reaffirmed a “market outperform” rating on shares of Ares Management in a research note on Monday, August 3rd. Barclays decreased their price objective on Ares Management from $140.00 to $139.00 and set an “overweight” rating on the stock in a report on Thursday, July 9th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $144.00 target price on shares of Ares Management in a research report on Monday, August 3rd. BMO Capital Markets upped their target price on Ares Management from $128.00 to $134.00 and gave the stock a “market perform” rating in a research note on Monday, August 3rd. Finally, Royal Bank Of Canada increased their price target on shares of Ares Management from $162.00 to $168.00 and gave the company an “outperform” rating in a research report on Monday, August 3rd. One investment 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 company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $160.47.

Ares Management Profile

Ares Management Corporation is a global alternative investment manager that provides investment solutions across credit, private equity, real assets and secondaries. The company manages capital for institutional investors, financial intermediaries and individual investors through a range of private funds, public-market strategies and other investment vehicles.

Its investment activities include direct lending and other forms of private credit, corporate and growth-oriented private equity, real estate and infrastructure investments, and secondary-market transactions involving private investment interests.