Engineers Gate Manager LP Increases Stock Holdings in Ares Management Corporation $ARES

Engineers Gate Manager LP increased its position in shares of Ares Management Corporation (NYSE:ARES) by 23.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 66,486 shares of the asset manager’s stock after purchasing an additional 12,791 shares during the period. Engineers Gate Manager LP’s holdings in Ares Management were worth $7,401,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. California State Teachers Retirement System grew its stake in shares of Ares Management by 10,879.6% in the 2nd quarter. California State Teachers Retirement System now owns 33,559,520 shares of the asset manager’s stock valued at $3,735,510,000 after buying an additional 33,253,867 shares during the period. Geode Capital Management LLC raised its position in shares of Ares Management by 55.7% during the 4th quarter. Geode Capital Management LLC now owns 5,489,004 shares of the asset manager’s stock valued at $883,716,000 after buying an additional 1,963,460 shares during the period. Capital International Investors raised its position in shares of Ares Management by 0.3% during the 4th quarter. Capital International Investors now owns 4,257,710 shares of the asset manager’s stock valued at $688,176,000 after buying an additional 14,516 shares during the period. Principal Financial Group Inc. lifted its holdings in Ares Management by 4.4% in the first quarter. Principal Financial Group Inc. now owns 4,009,291 shares of the asset manager’s stock valued at $437,417,000 after acquiring an additional 169,598 shares during the last quarter. Finally, Norges Bank acquired a new position in Ares Management in the fourth quarter valued at approximately $396,165,000. 50.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ARES has been the subject of several recent analyst reports. Keefe, Bruyette & Woods raised Ares Management to a “hold” rating in a research note on Monday, July 20th. JPMorgan Chase & Co. upped their price target on Ares Management from $143.00 to $153.00 and gave the company an “overweight” rating in a research note on Monday, August 3rd. Citizens Jmp lowered their price target 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. Royal Bank Of Canada raised their price objective on Ares Management from $162.00 to $168.00 and gave the stock an “outperform” rating in a research report on Monday, August 3rd. Finally, Morgan Stanley set a $160.00 price objective on shares of Ares Management in a report on Tuesday, July 21st. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, Ares Management currently has a consensus rating of “Moderate Buy” and an average price target of $160.47.

Ares Management Stock Up 1.0%

Shares of NYSE:ARES opened at $131.93 on Friday. The firm has a market capitalization of $43.57 billion, a PE ratio of 60.52, a price-to-earnings-growth ratio of 1.13 and a beta of 1.49. Ares Management Corporation has a 1 year low of $95.80 and a 1 year high of $186.85. 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 firm’s 50-day moving average is $133.40 and its two-hundred day moving average is $122.51.

Ares Management (NYSE:ARES) last posted its quarterly earnings data on Friday, July 31st. The asset manager reported $1.29 EPS for the quarter, beating the consensus estimate of $1.28 by $0.01. The business had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.27 billion. Ares Management had a net margin of 10.63% and a return on equity of 25.42%. The business’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter last year, the firm posted $1.03 earnings per share. Analysts predict that Ares Management Corporation will post 5.93 EPS for the current year.

Ares Management Dividend Announcement

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

About Ares Management

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.