Ares Management Corporation $ARES Stock Holdings Increased by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management S.A. increased its stake in Ares Management Corporation by 15.7%, acquiring a total of 16,089 shares during the second quarter, valued at approximately $2.79 million.
• Wall Street analysts have raised their target prices for Ares Management, with Wells Fargo increasing its target from $189 to $202, and Royal Bank of Canada raising its target from $195 to $215, reflecting a bullish outlook for the company.
• Ares Management announced a quarterly dividend of $1.12 per share, set to be paid on September 30th, which represents an annual yield of 2.7%.

Assenagon Asset Management S.A. lifted its stake in Ares Management Corporation (NYSE:ARES - Free Report) by 15.7% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 16,089 shares of the asset manager's stock after purchasing an additional 2,183 shares during the quarter. Assenagon Asset Management S.A.'s holdings in Ares Management were worth $2,787,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. Redmont Wealth Advisors LLC acquired a new stake in Ares Management in the first quarter valued at approximately $28,000. Financial Network Wealth Advisors LLC acquired a new stake in Ares Management in the first quarter valued at approximately $31,000. Global Financial Private Client LLC lifted its stake in Ares Management by 125.6% in the first 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. Rakuten Securities Inc. lifted its stake in Ares Management by 3,262.5% in the first 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. Finally, Banque Transatlantique SA acquired a new stake in Ares Management in the first quarter valued at approximately $39,000. 50.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on ARES. Wells Fargo & Company lifted their target price on shares of Ares Management from $189.00 to $202.00 and gave the company an "overweight" rating in a research note on Friday, July 11th. Raymond James Financial began coverage on shares of Ares Management in a research note on Monday, July 28th. They issued a "market perform" rating for the company. Royal Bank Of Canada lifted their price target on shares of Ares Management from $195.00 to $215.00 and gave the company an "outperform" rating in a research report on Monday, August 18th. Barclays lifted their price target on shares of Ares Management from $182.00 to $200.00 and gave the company an "overweight" rating in a research report on Thursday, July 10th. Finally, JMP Securities lifted their price target on shares of 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 analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $182.73.

Ares Management Stock Performance

NYSE ARES opened at $163.23 on Friday. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.08 and a quick ratio of 1.08. The firm has a market capitalization of $53.33 billion, a price-to-earnings ratio of 94.35, a P/E/G ratio of 1.32 and a beta of 1.44. The company's fifty day moving average is $182.11 and its two-hundred day moving average is $166.68. Ares Management Corporation has a 52-week low of $110.63 and a 52-week high of $200.49.

Ares Management (NYSE:ARES - Get Free Report) last posted its quarterly earnings results on Friday, August 1st. The asset manager reported $1.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.15 by ($0.12). The company 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 quarter in the prior year, the business earned $0.99 earnings per share. Equities research analysts forecast that Ares Management Corporation will post 5.28 EPS for the current year.

Ares Management Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th will be given a $1.12 dividend. This represents a $4.48 annualized dividend and a yield of 2.7%. The ex-dividend date is Tuesday, September 16th. Ares Management's dividend payout ratio (DPR) is currently 258.96%.

Insider Transactions at Ares Management

In other Ares Management news, Chairman Antony P. Ressler sold 128,837 shares of the firm's stock in a transaction on Wednesday, September 10th. The shares were sold at an average price of $178.30, for a total value of $22,971,637.10. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In the last quarter, insiders have sold 2,590,000 shares of company stock valued at $464,430,639. Company insiders own 36.86% of the company's stock.

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.

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