AG2R LA Mondiale Gestion D Actifs Makes New Investment in Ares Management Corporation $ARES

Key Points

• AG2R LA Mondiale Gestion D Actifs acquired 7,760 shares of Ares Management Corporation, valued at approximately $1,138,000, marking a new investment in the company.
• Ares Management recently announced a quarterly dividend of $1.12 per share, translating to an annualized dividend yield of 2.4%, with a payout ratio of approximately 259%.
• The stock has seen significant analyst activity, with upgrades and target price increases, including Royal Bank of Canada's adjustment from $195.00 to $215.00.

AG2R LA Mondiale Gestion D Actifs bought a new stake in shares of Ares Management Corporation (NYSE:ARES - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The firm bought 7,760 shares of the asset manager's stock, valued at approximately $1,138,000.

Several other hedge funds have also modified their holdings of the stock. Redmont Wealth Advisors LLC purchased a new stake in Ares Management during the 1st quarter worth approximately $28,000. Financial Network Wealth Advisors LLC bought a new stake in shares of Ares Management in the 1st quarter valued at approximately $31,000. Elequin Capital LP bought a new stake in shares of Ares Management in the 4th quarter valued at approximately $33,000. Global Financial Private Client LLC increased its holdings in shares of Ares Management by 125.6% in the 1st quarter. Global Financial Private Client LLC now owns 264 shares of the asset manager's stock valued at $39,000 after acquiring an additional 147 shares during the last quarter. Finally, Rakuten Securities Inc. increased its holdings in shares of Ares Management by 3,262.5% in the 1st quarter. Rakuten Securities Inc. now owns 269 shares of the asset manager's stock valued at $39,000 after acquiring an additional 261 shares during the last quarter. 50.03% of the stock is currently owned by hedge funds and other institutional investors.

Ares Management Stock Down 1.3%

NYSE:ARES traded down $2.42 during trading hours on Friday, hitting $181.00. 261,270 shares of the company's stock traded hands, compared to its average volume of 1,591,830. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.08 and a current ratio of 1.08. Ares Management Corporation has a twelve month low of $110.63 and a twelve month high of $200.49. The stock's fifty day moving average price is $182.47 and its two-hundred day moving average price is $165.95. The firm has a market cap of $59.14 billion, a P/E ratio of 104.61, a P/E/G ratio of 1.40 and a beta of 1.44.

Ares Management (NYSE:ARES - Get Free Report) last issued its earnings results on Friday, August 1st. The asset manager reported $1.03 earnings per share for the quarter, missing the consensus estimate of $1.15 by ($0.12). The firm had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.02 billion. Ares Management had a return on equity of 15.81% and a net margin of 9.47%.During the same period in the previous year, the company earned $0.99 earnings per share. On average, research analysts expect that Ares Management Corporation will post 5.28 earnings per share for the current fiscal year.

Ares Management Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th will be paid a dividend of $1.12 per share. The ex-dividend date is Tuesday, September 16th. This represents a $4.48 annualized dividend and a yield of 2.5%. Ares Management's dividend payout ratio is presently 258.96%.

Insiders Place Their Bets

In related news, Chairman Antony P. Ressler sold 128,837 shares of the stock in a transaction that occurred on Wednesday, September 10th. The stock was sold at an average price of $178.30, for a total transaction of $22,971,637.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last ninety days, insiders sold 2,590,000 shares of company stock worth $464,430,639. 36.86% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

ARES has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods boosted their price target on Ares Management from $193.00 to $203.00 and gave the company an "outperform" rating in a report on Monday, August 4th. Royal Bank Of Canada boosted their price objective on Ares Management from $195.00 to $215.00 and gave the company an "outperform" rating in a research report on Monday, August 18th. Cfra Research upgraded Ares Management to a "moderate buy" rating in a research report on Monday, August 4th. Raymond James Financial started coverage on Ares Management in a research report on Monday, July 28th. They set a "market perform" rating for the company. Finally, JMP Securities boosted their price objective on Ares Management from $195.00 to $205.00 and gave the company a "market outperform" rating in a research report on Wednesday, August 6th. Thirteen research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $182.73.

Ares Management Profile

Ares Management Corporation operates as an alternative asset manager in the United States, Europe, and Asia. The company's Tradable Credit Group segment manages various types of investment funds, such as commingled and separately managed accounts for institutional investors, and publicly traded vehicles and sub-advised funds for retail investors in the tradable and non-investment grade corporate credit markets.