Assenagon Asset Management S.A. Sells 38,003 Shares of Ares Management Corporation $ARES

Key Points

• Assenagon Asset Management cut its Ares Management stake by 61.3% in the second quarter, selling 38,003 shares and retaining 23,945 shares worth approximately $2.665 million. Institutional investors collectively own 50.03% of Ares stock.
• Ares reported quarterly EPS of $1.29, slightly ahead of estimates, while revenue rose 5.8% year over year to $1.43 billion. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $159.73.
• The company declared a quarterly dividend of $1.35 per share, or $5.40 annualized, representing a 3.6% yield; the dividend is payable September 30 to shareholders of record on September 16.

Assenagon Asset Management S.A. trimmed its stake in Ares Management Corporation (NYSE:ARES - Free Report) by 61.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 23,945 shares of the asset manager's stock after selling 38,003 shares during the period. Assenagon Asset Management S.A.'s holdings in Ares Management were worth $2,665,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Osbon Capital Management LLC purchased a new position in shares of Ares Management during the 4th quarter worth approximately $32,000. Atlantic Edge Private Wealth Management LLC bought a new position in shares of Ares Management in the 4th quarter worth approximately $42,000. Elyxium Wealth LLC purchased a new position in shares of Ares Management in the 4th quarter valued at approximately $42,000. Summit Securities Group LLC purchased a new position in shares of Ares Management in the 4th quarter valued at approximately $49,000. Finally, AlphaCentric Advisors LLC bought a new stake in shares of Ares Management during the fourth quarter valued at approximately $62,000. Hedge funds and other institutional investors own 50.03% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. BMO Capital Markets upped their price target on Ares Management from $128.00 to $134.00 and gave the stock a "market perform" rating in a research note on Monday, August 3rd. Deutsche Bank Aktiengesellschaft restated a "buy" rating and set a $144.00 target price on shares of Ares Management in a report on Monday, August 3rd. Keefe, Bruyette & Woods raised shares of Ares Management to a "hold" rating in a research report on Monday, July 20th. TD Cowen increased their price target on shares of Ares Management from $153.00 to $155.00 and gave the stock a "buy" rating in a research note on Monday, August 3rd. Finally, Royal Bank Of Canada lifted their price target on shares of Ares Management from $162.00 to $168.00 and gave the company an "outperform" rating in a research report on Monday, August 3rd. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $159.73.

Ares Management Stock Performance

Shares of ARES stock opened at $149.21 on Friday. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.96. The company has a 50 day moving average price of $126.33 and a 200-day moving average price of $122.03. Ares Management Corporation has a 52 week low of $95.80 and a 52 week high of $191.95. The firm has a market capitalization of $49.22 billion, a PE ratio of 68.44, a P/E/G ratio of 1.25 and a beta of 1.49.

Ares Management (NYSE:ARES - Get Free Report) last issued its quarterly earnings data on Friday, July 31st. The asset manager reported $1.29 earnings per share for the quarter, beating analysts' consensus estimates of $1.28 by $0.01. Ares Management had a net margin of 10.63% and a return on equity of 25.47%. The company had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.27 billion. During the same quarter in the prior year, the firm earned $1.03 earnings per share. The firm's revenue for the quarter was up 5.8% compared to the same quarter last year. As a group, equities research analysts expect that Ares Management Corporation will post 5.94 earnings per share for the current year.

Ares Management Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 16th will be issued a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 3.6%. The ex-dividend date of this dividend is Wednesday, September 16th. Ares Management's dividend payout ratio is presently 247.71%.

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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