Nykredit A S Invests $6.73 Million in Ares Management Corporation $ARES

Key Points

• Nykredit A/S acquired a new $6.73 million stake in Ares Management during the second quarter, buying 60,447 shares. Institutional investors now own 50.03% of the company.
• Analysts remain broadly positive, with a consensus rating of “Moderate Buy” and an average price target of $160.47, above the reported share price of $126.72.
• Ares beat quarterly earnings and revenue expectations, reporting $1.29 in EPS and $1.43 billion in revenue. The company also declared a $1.35 quarterly dividend, equivalent to a 4.3% annualized yield.

Nykredit A S bought a new stake in Ares Management Corporation (NYSE:ARES - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 60,447 shares of the asset manager's stock, valued at approximately $6,728,000.

Several other hedge funds also recently made changes to their positions in the company. Renaissance Technologies LLC purchased a new stake in shares of Ares Management in the 1st quarter worth about $9,350,000. King Luther Capital Management Corp increased its stake in shares of Ares Management by 7.7% in the 4th quarter. King Luther Capital Management Corp now owns 186,957 shares of the asset manager's stock worth $30,218,000 after acquiring an additional 13,306 shares in the last quarter. Kingsview Wealth Management LLC purchased a new position in Ares Management during the 4th quarter valued at about $3,519,000. Bank of Nova Scotia boosted its stake in Ares Management by 156.1% during the first quarter. Bank of Nova Scotia now owns 79,469 shares of the asset manager's stock worth $8,671,000 after acquiring an additional 48,438 shares in the last quarter. Finally, Wealthfront Advisers LLC boosted its stake in Ares Management by 88.7% during the first quarter. Wealthfront Advisers LLC now owns 43,582 shares of the asset manager's stock worth $4,755,000 after acquiring an additional 20,490 shares in the last quarter. 50.03% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. BMO Capital Markets raised their target price on shares of Ares Management from $128.00 to $134.00 and gave the company a "market perform" rating in a research note on Monday, August 3rd. Royal Bank Of Canada boosted their price target on 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 target on Ares Management from $153.00 to $155.00 and gave the stock a "buy" rating in a research note on Monday, August 3rd. Keefe, Bruyette & Woods upgraded Ares Management to a "hold" rating in a research note on Monday, July 20th. Finally, Citigroup reaffirmed a "market outperform" rating on shares of Ares Management in a research report on Monday, August 3rd. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $160.47.

Ares Management Stock Up 2.4%

Shares of Ares Management stock opened at $126.72 on Tuesday. 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 stock has a market capitalization of $41.85 billion, a PE ratio of 58.13, a price-to-earnings-growth ratio of 1.07 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 50-day simple moving average of $134.12 and a two-hundred day simple moving average of $123.05.

Ares Management (NYSE:ARES - Get Free Report) last posted its quarterly earnings results on Friday, July 31st. The asset manager reported $1.29 EPS 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 25.42%. The firm had revenue of $1.43 billion for the quarter, compared to analysts' expectations of $1.27 billion. During the same quarter in the prior year, the company posted $1.03 earnings per share. The business's revenue for the quarter was up 5.8% on a year-over-year basis. On average, analysts anticipate that Ares Management Corporation will post 5.93 EPS for the current fiscal year.

Ares Management Announces Dividend

The firm 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 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date of this dividend is Wednesday, September 16th. Ares Management's dividend payout ratio is presently 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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