National Pension Service Boosts Position in Ares Management Corporation $ARES

Key Points

• National Pension Service increased its Ares Management stake by 18.6% in the second quarter, owning 367,433 shares valued at approximately $40.9 million. Institutional investors collectively hold 50.03% of ARES shares.
• Ares Management reported quarterly earnings of $1.29 per share, slightly above estimates, while revenue rose 5.8% year over year to $1.43 billion.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $160.47, compared with a recent share price of $131.93. The company also declared a quarterly dividend of $1.35 per share, representing a 4.1% yield.

National Pension Service raised its position in Ares Management Corporation (NYSE:ARES - Free Report) by 18.6% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 367,433 shares of the asset manager's stock after acquiring an additional 57,641 shares during the quarter. National Pension Service owned approximately 0.11% of Ares Management worth $40,899,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. California State Teachers Retirement System increased its position in shares of Ares Management by 10,879.6% during the 2nd quarter. California State Teachers Retirement System now owns 33,559,520 shares of the asset manager's stock valued at $3,735,510,000 after purchasing an additional 33,253,867 shares during the last quarter. Norges Bank purchased a new position in shares of Ares Management in the fourth quarter worth approximately $396,165,000. Geode Capital Management LLC grew its position in Ares Management by 55.7% during the fourth quarter. Geode Capital Management LLC now owns 5,489,004 shares of the asset manager's stock valued at $883,716,000 after buying an additional 1,963,460 shares during the period. River Road Asset Management LLC grew its position in Ares Management by 40,652.1% during the fourth quarter. River Road Asset Management LLC now owns 807,300 shares of the asset manager's stock valued at $130,484,000 after buying an additional 805,319 shares during the period. Finally, Marshall Wace LLP increased its holdings in Ares Management by 487.4% during the third quarter. Marshall Wace LLP now owns 912,656 shares of the asset manager's stock valued at $145,925,000 after buying an additional 757,293 shares during the last quarter. 50.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Citigroup reiterated a "market outperform" rating on shares of Ares Management in a research report on Monday, August 3rd. Keefe, Bruyette & Woods raised Ares Management to a "hold" rating in a report on Monday, July 20th. BMO Capital Markets lifted their target price on Ares Management from $128.00 to $134.00 and gave the company a "market perform" rating in a research report on Monday, August 3rd. Citizens Jmp cut their price target on Ares Management from $190.00 to $160.00 and set a "market outperform" rating for the company in a report on Thursday, July 9th. Finally, Barclays reduced their price target on Ares Management from $140.00 to $139.00 and set an "overweight" rating for the company in a research report on Thursday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $160.47.

Ares Management Price Performance

NYSE:ARES opened at $131.93 on Friday. The business's 50-day simple moving average is $133.40 and its two-hundred day simple moving average is $122.51. The stock has a market cap of $43.57 billion, a PE ratio of 60.52, a P/E/G ratio of 1.14 and a beta of 1.49. Ares Management Corporation has a 52 week low of $95.80 and a 52 week high of $186.85. The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 1.00.

Ares Management (NYSE:ARES - Get Free Report) last posted its quarterly earnings results on Friday, July 31st. The asset manager reported $1.29 earnings per share for the quarter, topping the consensus estimate of $1.28 by $0.01. Ares Management had a return on equity of 25.42% and a net margin of 10.63%.The business had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.27 billion. During the same period in the prior year, the company posted $1.03 EPS. The firm's revenue for the quarter was up 5.8% compared to the same quarter last year. As a group, analysts forecast that Ares Management Corporation will post 5.93 EPS for the current fiscal year.

Ares Management Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders 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 yield of 4.1%. The ex-dividend date is Wednesday, September 16th. Ares Management's dividend payout ratio (DPR) is currently 247.71%.

Ares Management Company Profile

Ares Management Corporation is a global alternative investment manager that provides investment solutions across credit, private equity, real assets and secondaries. The company manages capital for institutional investors, financial intermediaries and individual investors through a range of private funds, public-market strategies and other investment vehicles.

Its investment activities include direct lending and other forms of private credit, corporate and growth-oriented private equity, real estate and infrastructure investments, and secondary-market transactions involving private investment interests.

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