Fjarde AP Fonden Fourth Swedish National Pension Fund Sells 11,400 Shares of Ares Management Corporation $ARES

Key Points

• Fjarde AP Fonden cut its Ares Management stake by 24.2% in the fourth quarter, selling 11,400 shares and leaving it with 35,700 shares worth about $5.77 million.
• Ares Management reported quarterly EPS of $1.24, missing estimates, though revenue of $1.40 billion came in above expectations.
• The company announced a quarterly dividend of $1.35 per share, equal to a 4.3% annualized yield, while analysts currently rate the stock a Moderate Buy with an average price target of $162.56.

Fjarde AP Fonden Fourth Swedish National Pension Fund decreased its position in Ares Management Corporation (NYSE:ARES - Free Report) by 24.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 35,700 shares of the asset manager's stock after selling 11,400 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund's holdings in Ares Management were worth $5,770,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of ARES. Vanguard Group Inc. lifted its position in Ares Management by 20.2% in the 4th quarter. Vanguard Group Inc. now owns 26,050,425 shares of the asset manager's stock worth $4,210,530,000 after buying an additional 4,373,955 shares during the last quarter. Norges Bank bought a new stake in Ares Management in the 4th quarter worth approximately $396,165,000. Geode Capital Management LLC lifted its position in 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 worth $883,716,000 after buying an additional 1,963,460 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in 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 worth $922,196,000 after buying an additional 1,187,174 shares during the last quarter. Finally, Marshall Wace LLP lifted its position in Ares Management by 487.4% in the 3rd quarter. Marshall Wace LLP now owns 912,656 shares of the asset manager's stock worth $145,925,000 after buying an additional 757,293 shares during the last quarter. Institutional investors own 50.03% of the company's stock.

Ares Management Price Performance

ARES opened at $125.92 on Monday. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.23 and a current ratio of 0.23. Ares Management Corporation has a 52-week low of $95.80 and a 52-week high of $195.26. The stock has a market capitalization of $41.53 billion, a PE ratio of 58.57, a price-to-earnings-growth ratio of 1.10 and a beta of 1.51. The stock's 50 day moving average price is $117.49 and its 200-day moving average price is $135.34.

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

Ares Management Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th will be paid a dividend of $1.35 per share. The ex-dividend date of this dividend is Tuesday, June 16th. This represents a $5.40 annualized dividend and a dividend yield of 4.3%. Ares Management's payout ratio is 251.16%.

Analyst Ratings Changes

ARES has been the subject of a number of recent research reports. Citizens Jmp dropped their target price on Ares Management from $205.00 to $190.00 and set a "market outperform" rating for the company in a research report on Wednesday, April 22nd. JPMorgan Chase & Co. lowered their price objective on Ares Management from $188.00 to $144.00 and set an "overweight" rating for the company in a research report on Tuesday, April 28th. Wall Street Zen upgraded Ares Management from a "sell" rating to a "hold" rating in a research report on Saturday. The Goldman Sachs Group lowered their price objective on Ares Management from $165.00 to $131.00 and set a "buy" rating for the company in a research report on Tuesday, April 7th. Finally, Oppenheimer reiterated an "outperform" rating and issued a $146.00 price objective (down from $147.00) on shares of Ares Management in a research report on Monday, May 4th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $162.56.

Ares Management 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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