Park Avenue Securities LLC purchased a new position in shares of Ares Management Corporation (NYSE:ARES - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 14,883 shares of the asset manager's stock, valued at approximately $2,578,000.
Other institutional investors have also recently bought and sold shares of the company. Redmont Wealth Advisors LLC acquired a new stake in Ares Management during the first quarter worth $28,000. Financial Network Wealth Advisors LLC acquired a new stake in Ares Management during the first quarter worth $31,000. Global Financial Private Client LLC boosted its stake in Ares Management by 125.6% during the first quarter. Global Financial Private Client LLC now owns 264 shares of the asset manager's stock worth $39,000 after buying an additional 147 shares in the last quarter. Rakuten Securities Inc. boosted its stake in 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 buying an additional 261 shares in the last quarter. Finally, Banque Transatlantique SA acquired a new stake in Ares Management during the first quarter worth $39,000. Institutional investors and hedge funds own 50.03% of the company's stock.
Ares Management Price Performance
Ares Management stock opened at $181.10 on Wednesday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.08 and a current ratio of 1.08. The firm has a market cap of $59.17 billion, a P/E ratio of 104.68, a P/E/G ratio of 1.43 and a beta of 1.44. The business's fifty day moving average is $182.75 and its two-hundred day moving average is $166.51. Ares Management Corporation has a 52 week low of $110.63 and a 52 week high of $200.49.
Ares Management (NYSE:ARES - Get Free Report) last posted its quarterly earnings data on Friday, August 1st. The asset manager reported $1.03 EPS for the quarter, missing analysts' consensus estimates of $1.15 by ($0.12). The business had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.02 billion. Ares Management had a return on equity of 15.81% and a net margin of 9.47%.During the same period in the prior year, the firm posted $0.99 EPS. Equities research analysts forecast that Ares Management Corporation will post 5.28 earnings per share for the current fiscal year.
Ares Management Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th will be paid a $1.12 dividend. The ex-dividend date of this dividend is Tuesday, September 16th. This represents a $4.48 dividend on an annualized basis and a yield of 2.5%. Ares Management's payout ratio is currently 258.96%.
Insiders Place Their Bets
In other news, Chairman Antony P. Ressler sold 196,197 shares of the company's stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $178.79, for a total transaction of $35,078,061.63. Following the transaction, the chairman owned 1,424,538 shares of the company's stock, valued at $254,693,149.02. This represents a 12.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Michael J. Arougheti sold 136,516 shares of the company's stock in a transaction on Tuesday, August 19th. The shares were sold at an average price of $182.74, for a total value of $24,946,933.84. Following the transaction, the chief executive officer directly owned 311,728 shares in the company, valued at $56,965,174.72. This trade represents a 30.46% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 2,590,000 shares of company stock worth $464,430,639. Insiders own 0.52% of the company's stock.
Wall Street Analysts Forecast Growth
A number of research firms have weighed in on ARES. Barclays lifted their price target on shares of Ares Management from $182.00 to $200.00 and gave the stock an "overweight" rating in a research note on Thursday, July 10th. Keefe, Bruyette & Woods lifted their price objective on Ares Management from $193.00 to $203.00 and gave the company an "outperform" rating in a report on Monday, August 4th. Citigroup reissued an "outperform" rating on shares of Ares Management in a report on Monday, July 14th. Royal Bank Of Canada lifted their price objective on Ares Management from $195.00 to $215.00 and gave the company an "outperform" rating in a report on Monday, August 18th. Finally, Raymond James Financial started coverage on Ares Management in a report on Monday, July 28th. They set a "market perform" rating for the company. Thirteen analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat.com, Ares Management has a consensus rating of "Moderate Buy" and a consensus price target of $182.73.
Check Out Our Latest Report on Ares Management
About Ares Management
(
Free Report)
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.
See Also
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 and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Ares Management, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Ares Management wasn't on the list.
While Ares Management currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Enter your email address and we'll send you MarketBeat's list of ten stocks that are set to soar in Fall 2025, despite the threat of tariffs and other economic uncertainty. These ten stocks are incredibly resilient and are likely to thrive in any economic environment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
