Nykredit A S Buys New Position in Ares Management Corporation $ARES

Key Points

• Nykredit A S bought 67,271 shares of Ares Management in the second quarter, valued at approximately $7.5 million. Institutional investors and hedge funds collectively own 50.03% of ARES.
• Analysts remain broadly positive, with an average rating of “Moderate Buy” and an average price target of $160.47. Several firms recently raised their targets, including RBC to $168.
• Ares exceeded quarterly earnings and revenue expectations, reporting $1.29 in EPS and $1.43 billion in revenue. The company also declared a quarterly dividend of $1.35 per share, representing a 3.8% yield.

Nykredit A S purchased a new position in shares of Ares Management Corporation (NYSE:ARES - Free Report) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 67,271 shares of the asset manager's stock, valued at approximately $7,488,000.

A number of other hedge funds have also recently bought and sold shares of ARES. Geode Capital Management LLC increased its stake in Ares Management by 55.7% in 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 purchasing an additional 1,963,460 shares during the last quarter. Capital International Investors lifted its stake in shares of Ares Management by 0.3% in the 4th quarter. Capital International Investors now owns 4,257,710 shares of the asset manager's stock valued at $688,176,000 after purchasing an additional 14,516 shares in the last quarter. Principal Financial Group Inc. increased its position in Ares Management by 4.4% during the 1st quarter. Principal Financial Group Inc. now owns 4,009,291 shares of the asset manager's stock worth $437,417,000 after purchasing an additional 169,598 shares in the last quarter. Norges Bank purchased a new position in Ares Management in the fourth quarter valued at approximately $396,165,000. Finally, Nuveen LLC raised its position in Ares Management by 17.3% in the fourth quarter. Nuveen LLC now owns 2,358,996 shares of the asset manager's stock valued at $381,284,000 after purchasing an additional 347,523 shares during the period. Institutional investors and hedge funds own 50.03% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on ARES. Royal Bank Of Canada boosted their target price on shares of Ares Management from $162.00 to $168.00 and gave the stock an "outperform" rating in a research report on Monday, August 3rd. TD Cowen upped their price objective on shares of Ares Management from $153.00 to $155.00 and gave the company a "buy" rating in a research report on Monday, August 3rd. JPMorgan Chase & Co. raised their target price on Ares Management from $143.00 to $153.00 and gave the company an "overweight" rating in a research note on Monday, August 3rd. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and issued a $144.00 price target on shares of Ares Management in a research note on Monday, August 3rd. Finally, BMO Capital Markets increased their price target on Ares Management from $128.00 to $134.00 and gave the company 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 given a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $160.47.

Ares Management Stock Down 0.9%

NYSE:ARES opened at $140.28 on Friday. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.26 and a current ratio of 0.26. The company has a market capitalization of $46.33 billion, a price-to-earnings ratio of 64.35, a price-to-earnings-growth ratio of 1.21 and a beta of 1.49. Ares Management Corporation has a one year low of $95.80 and a one year high of $186.85. The stock has a 50-day simple moving average of $131.20 and a 200 day simple moving average of $122.34.

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

Ares Management Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 16th will be paid a dividend of $1.35 per share. The ex-dividend date is Wednesday, September 16th. This represents a $5.40 annualized dividend and a yield of 3.8%. Ares Management's 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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