29,042 Shares in Ares Management Corporation $ARES Acquired by Independence Bank of Kentucky

Key Points

• Independence Bank of Kentucky acquired 29,042 Ares Management shares worth approximately $3.23 million in the second quarter. Institutional investors collectively own 50.03% of ARES.
• Ares Management exceeded quarterly earnings expectations, reporting $1.29 in EPS versus the $1.28 consensus and $1.43 billion in revenue, up 5.8% year over year.
• The company declared a quarterly dividend of $1.35 per share, or $5.40 annualized, representing a 3.9% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $160.47.

Independence Bank of Kentucky bought a new position in shares of Ares Management Corporation (NYSE:ARES - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 29,042 shares of the asset manager's stock, valued at approximately $3,233,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Triumph Capital Management increased its holdings in shares of Ares Management by 127.3% in the 2nd quarter. Triumph Capital Management now owns 250 shares of the asset manager's stock valued at $28,000 after acquiring an additional 140 shares during the period. Osbon Capital Management LLC purchased a new stake in shares of Ares Management during the 4th quarter worth $32,000. Elyxium Wealth LLC bought a new stake in Ares Management during the fourth quarter valued at about $42,000. Summit Securities Group LLC bought a new stake in Ares Management during the fourth quarter valued at about $49,000. Finally, Western Wealth Management LLC purchased a new position in Ares Management in the first quarter valued at about $50,000. Institutional investors own 50.03% of the company's stock.

Ares Management Stock Down 3.2%

NYSE:ARES opened at $138.54 on Wednesday. The company has a current ratio of 0.26, a quick ratio of 0.26 and a debt-to-equity ratio of 1.00. Ares Management Corporation has a twelve month low of $95.80 and a twelve month high of $186.85. The company has a market cap of $45.76 billion, a PE ratio of 63.55, a P/E/G ratio of 1.24 and a beta of 1.49. The company's 50 day moving average is $129.51 and its two-hundred day moving average is $122.13.

Ares Management (NYSE:ARES - Get Free Report) last posted its quarterly earnings results on Friday, July 31st. The asset manager reported $1.29 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.28 by $0.01. The business had revenue of $1.43 billion during the quarter, compared to analysts' expectations of $1.27 billion. Ares Management had a net margin of 10.63% and a return on equity of 25.42%. The business's quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter last year, the company posted $1.03 earnings per share. Analysts anticipate that Ares Management Corporation will post 5.94 EPS for the current year.

Ares Management Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Wednesday, September 16th will be issued a dividend of $1.35 per share. 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 payout ratio is 247.71%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on ARES. Zacks Research upgraded shares of Ares Management from a "strong sell" rating to a "hold" rating in a report on Tuesday, May 5th. TD Cowen raised their price target on shares of Ares Management from $153.00 to $155.00 and gave the company a "buy" rating in a report on Monday, August 3rd. Wall Street Zen downgraded shares of Ares Management from a "hold" rating to a "sell" rating in a research report on Saturday, July 4th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and set a $144.00 price objective on shares of Ares Management in a research note on Monday, August 3rd. Finally, Keefe, Bruyette & Woods raised shares of Ares Management to a "hold" rating in a research report on Monday, July 20th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have given a Hold rating to the company's stock. According to data from MarketBeat.com, Ares Management presently has an average rating of "Moderate Buy" and a consensus target price of $160.47.

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.

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