Handelsbanken Fonder AB Reduces Stake in Ares Management Corporation $ARES

Key Points

• Handelsbanken Fonder cut its Ares Management stake by 44.2% in the second quarter, selling 8,514 shares and retaining 10,737 shares valued at approximately $1.2 million. Institutional investors collectively own 50.03% of Ares stock.
• Ares reported quarterly EPS of $1.29, narrowly exceeding estimates, while revenue reached $1.43 billion—up 5.8% year over year. The company announced a quarterly dividend of $1.35, equivalent to a 3.8% annualized yield.
• Analyst sentiment remains generally positive, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $159.73, despite some target reductions and one “sell” rating.

Handelsbanken Fonder AB trimmed its position in shares of Ares Management Corporation (NYSE:ARES - Free Report) by 44.2% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 10,737 shares of the asset manager's stock after selling 8,514 shares during the quarter. Handelsbanken Fonder AB's holdings in Ares Management were worth $1,195,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of Ares Management by 20.2% during 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 acquired a new stake in Ares Management in the 4th quarter valued at about $396,165,000. Geode Capital Management LLC grew its stake 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 valued at $883,716,000 after acquiring an additional 1,963,460 shares during the last quarter. River Road Asset Management LLC increased its holdings in Ares Management by 40,652.1% during 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 in the last quarter. Finally, Marshall Wace LLP raised its position in Ares Management by 487.4% during the third quarter. Marshall Wace LLP now owns 912,656 shares of the asset manager's stock worth $145,925,000 after acquiring an additional 757,293 shares during the last quarter. Institutional investors and hedge funds own 50.03% of the company's stock.

Ares Management Stock Performance

NYSE:ARES opened at $140.33 on Wednesday. The firm has a 50 day simple moving average of $127.18 and a 200-day simple moving average of $121.87. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.26 and a quick ratio of 0.26. The firm has a market cap of $46.35 billion, a PE ratio of 64.37, a P/E/G ratio of 1.27 and a beta of 1.49. Ares Management Corporation has a 1-year low of $95.80 and a 1-year high of $189.76.

Ares Management (NYSE:ARES - Get Free Report) last announced its earnings results on Friday, July 31st. The asset manager reported $1.29 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.28 by $0.01. The firm had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.27 billion. Ares Management had a net margin of 10.63% and a return on equity of 25.42%. Ares Management's revenue was up 5.8% compared to the same quarter last year. During the same quarter last year, the business earned $1.03 earnings per share. On average, equities analysts expect that Ares Management Corporation will post 5.94 EPS for the current year.

Ares Management Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 16th will be given a $1.35 dividend. The ex-dividend date of this dividend is Wednesday, September 16th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 3.8%. Ares Management's payout ratio is currently 247.71%.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Barclays lowered their price target on shares of Ares Management from $140.00 to $139.00 and set an "overweight" rating on the stock in a research report on Thursday, July 9th. TD Cowen upped their target price on Ares Management from $153.00 to $155.00 and gave the company a "buy" rating in a research note on Monday, August 3rd. Wall Street Zen cut Ares Management from a "hold" rating to a "sell" rating in a report on Saturday, July 4th. Oppenheimer raised their price target on Ares Management from $140.00 to $151.00 and gave the stock an "outperform" rating in a research report on Monday, August 3rd. Finally, BMO Capital Markets boosted their price target on Ares Management from $128.00 to $134.00 and gave the stock a "market perform" rating in a report on Monday, August 3rd. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $159.73.

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.

Want to see what other hedge funds are holding ARES? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ares Management Corporation (NYSE:ARES - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source