Overbrook Management Corp Has $22.04 Million Stock Holdings in Ares Management Corporation $ARES

Key Points

• Overbrook Management Corp reduced its holdings in Ares Management Corporation by 4.3%, leaving it with 127,273 shares valued at approximately $22.04 million, constituting about 4.1% of their investment portfolio.
• A number of analysts have raised their price targets for Ares Management, with Barclays setting a target of $200 and Keefe, Bruyette & Woods increasing theirs to $203, reflecting overall positive sentiment from Wall Street.
• Ares Management has announced a quarterly dividend of $1.12 per share, representing a 2.7% dividend yield, with a significant dividend payout ratio of 258.96%.

Overbrook Management Corp reduced its position in shares of Ares Management Corporation (NYSE:ARES - Free Report) by 4.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 127,273 shares of the asset manager's stock after selling 5,708 shares during the period. Ares Management makes up about 4.1% of Overbrook Management Corp's investment portfolio, making the stock its 9th largest position. Overbrook Management Corp's holdings in Ares Management were worth $22,044,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Redmont Wealth Advisors LLC acquired a new position in shares of Ares Management in the 1st quarter valued at $28,000. Financial Network Wealth Advisors LLC purchased a new stake in shares of Ares Management in the first quarter worth approximately $31,000. Rakuten Securities Inc. boosted its holdings in shares of Ares Management by 3,262.5% during the first quarter. Rakuten Securities Inc. now owns 269 shares of the asset manager's stock worth $39,000 after purchasing an additional 261 shares during the period. Banque Transatlantique SA acquired a new stake in shares of Ares Management during the first quarter worth approximately $39,000. Finally, SouthState Corp purchased a new position in Ares Management during the first quarter valued at approximately $48,000. Institutional investors and hedge funds own 50.03% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on ARES. Barclays increased their target price on shares of Ares Management from $182.00 to $200.00 and gave the stock an "overweight" rating in a research report on Thursday, July 10th. Keefe, Bruyette & Woods boosted their target price on Ares Management from $193.00 to $203.00 and gave the company an "outperform" rating in a research note on Monday, August 4th. JMP Securities raised their price target on Ares Management from $195.00 to $205.00 and gave the stock a "market outperform" rating in a research note on Wednesday, August 6th. Raymond James Financial started coverage on Ares Management in a report on Monday, July 28th. They set a "market perform" rating for the company. Finally, Cfra Research upgraded Ares Management to a "moderate buy" rating in a report on Monday, August 4th. Thirteen research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, Ares Management has an average rating of "Moderate Buy" and a consensus price target of $182.73.

Ares Management Stock Down 0.2%

ARES opened at $163.00 on Monday. The business has a 50 day moving average of $181.71 and a 200-day moving average of $167.15. The stock has a market capitalization of $53.25 billion, a price-to-earnings ratio of 94.22, a P/E/G ratio of 1.28 and a beta of 1.44. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.64. Ares Management Corporation has a 1-year low of $110.63 and a 1-year high of $200.49.

Ares Management (NYSE:ARES - Get Free Report) last released its earnings results on Friday, August 1st. The asset manager reported $1.03 EPS for the quarter, missing the consensus estimate of $1.15 by ($0.12). Ares Management had a net margin of 9.47% and a return on equity of 15.81%. The company had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.02 billion. During the same quarter in the previous year, the company earned $0.99 earnings per share. As a group, sell-side analysts anticipate that Ares Management Corporation will post 5.28 earnings per share for the current year.

Ares Management Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th will be paid a $1.12 dividend. This represents a $4.48 annualized dividend and a dividend yield of 2.7%. The ex-dividend date is Tuesday, September 16th. Ares Management's dividend payout ratio (DPR) is presently 258.96%.

Insiders Place Their Bets

In other Ares Management news, Chairman Antony P. Ressler sold 128,837 shares of the company's stock in a transaction that occurred on Wednesday, September 10th. The stock was sold at an average price of $178.30, for a total value of $22,971,637.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 2,590,000 shares of company stock worth $464,430,639 over the last 90 days. 0.52% of the stock is owned by company insiders.

Ares Management Company Profile

Ares Management Corporation operates as an alternative asset manager in the United States, Europe, and Asia. The company's Tradable Credit Group segment manages various types of investment funds, such as commingled and separately managed accounts for institutional investors, and publicly traded vehicles and sub-advised funds for retail investors in the tradable and non-investment grade corporate credit markets.

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