Assenagon Asset Management S.A. Acquires 54,781 Shares of Ares Management Corporation $ARES

Key Points

• Assenagon Asset Management S.A. sharply increased its Ares Management stake in Q1, buying 54,781 additional shares and lifting its holdings by 764.4% to 61,948 shares valued at about $6.76 million.
• Ares Management reported quarterly EPS of $1.24, missing analyst estimates, even as revenue came in above expectations at $1.40 billion.
• The company declared a quarterly dividend of $1.35 per share, implying an annualized yield of 4.9%, while analysts currently rate the stock a Moderate Buy with a consensus target price of $163.12.

Assenagon Asset Management S.A. boosted its holdings in Ares Management Corporation (NYSE:ARES - Free Report) by 764.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 61,948 shares of the asset manager's stock after buying an additional 54,781 shares during the period. Assenagon Asset Management S.A.'s holdings in Ares Management were worth $6,759,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ARES. Vanguard Group Inc. increased its holdings in Ares Management by 20.2% in the fourth quarter. Vanguard Group Inc. now owns 26,050,425 shares of the asset manager's stock valued at $4,210,530,000 after purchasing an additional 4,373,955 shares during the last quarter. Norges Bank acquired a new position in shares of Ares Management during the 4th quarter worth about $396,165,000. Geode Capital Management LLC increased its stake in shares of Ares Management by 55.7% in 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 acquiring an additional 1,963,460 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of Ares Management by 26.3% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 5,705,599 shares of the asset manager's stock valued at $922,196,000 after acquiring an additional 1,187,174 shares during the last quarter. Finally, River Road Asset Management LLC raised its position in shares of Ares Management by 40,652.1% in the 4th quarter. River Road Asset Management LLC now owns 807,300 shares of the asset manager's stock valued at $130,484,000 after acquiring an additional 805,319 shares during the period. 50.03% of the stock is owned by institutional investors.

Ares Management Stock Up 0.1%

Shares of ARES stock opened at $109.19 on Monday. The firm has a fifty day moving average of $123.48 and a 200-day moving average of $132.31. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.96. Ares Management Corporation has a 12-month low of $95.80 and a 12-month high of $195.26. The company has a market capitalization of $36.02 billion, a price-to-earnings ratio of 50.79, a P/E/G ratio of 0.96 and a beta of 1.51.

Ares Management (NYSE:ARES - Get Free Report) last released its earnings results on Friday, May 1st. The asset manager reported $1.24 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.32 by ($0.08). The firm had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.28 billion. Ares Management had a return on equity of 22.14% and a net margin of 10.54%.During the same quarter last year, the company posted $1.09 EPS. As a group, equities research analysts predict that Ares Management Corporation will post 6.06 earnings per share for the current fiscal year.

Ares Management Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th will be given a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 4.9%. The ex-dividend date of this dividend is Tuesday, June 16th. Ares Management's dividend payout ratio is currently 251.16%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on ARES. The Goldman Sachs Group decreased their price objective on shares of Ares Management from $165.00 to $131.00 and set a "buy" rating for the company in a report on Tuesday, April 7th. Oppenheimer reiterated an "outperform" rating and issued a $146.00 target price (down from $147.00) on shares of Ares Management in a report on Monday, May 4th. Morgan Stanley reduced their price target on shares of Ares Management from $178.00 to $163.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 21st. Barclays boosted their price target on shares of Ares Management from $127.00 to $140.00 and gave the company an "overweight" rating in a report on Monday, May 4th. Finally, Royal Bank Of Canada restated an "outperform" rating on shares of Ares Management in a research report on Wednesday, April 29th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $163.12.

Ares Management Company Profile

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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