State of Michigan Retirement System Buys Shares of 53,900 Ares Management Corporation $ARES

State of Michigan Retirement System bought a new stake in Ares Management Corporation (NYSE:ARES - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 53,900 shares of the asset manager's stock, valued at approximately $8,712,000.

Several other large investors have also recently bought and sold shares of the company. Vulcan Value Partners LLC raised its position in shares of Ares Management by 10.6% during the third quarter. Vulcan Value Partners LLC now owns 1,350,249 shares of the asset manager's stock worth $215,785,000 after acquiring an additional 129,368 shares during the last quarter. Quilter Plc raised its position in shares of Ares Management by 5.6% during the fourth quarter. Quilter Plc now owns 704,069 shares of the asset manager's stock worth $113,799,000 after acquiring an additional 37,366 shares during the last quarter. CI Investments Inc. raised its position in shares of Ares Management by 35,425.5% during the third quarter. CI Investments Inc. now owns 221,679 shares of the asset manager's stock worth $35,444,000 after acquiring an additional 221,055 shares during the last quarter. Hudson Bay Capital Management LP raised its position in shares of Ares Management by 1,903.9% during the third quarter. Hudson Bay Capital Management LP now owns 60,717 shares of the asset manager's stock worth $9,708,000 after acquiring an additional 57,687 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new position in shares of Ares Management during the third quarter worth about $2,971,000. 50.03% of the stock is currently owned by institutional investors.

Ares Management Trading Up 0.7%

NYSE ARES opened at $112.98 on Wednesday. The business has a 50 day simple moving average of $110.89 and a 200 day simple moving average of $139.94. Ares Management Corporation has a one year low of $95.80 and a one year high of $195.26. The stock has a market capitalization of $37.22 billion, a P/E ratio of 66.85, a P/E/G ratio of 0.99 and a beta of 1.52. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.22 and a quick ratio of 1.22.

Ares Management (NYSE:ARES - Get Free Report) last released its earnings results on Thursday, February 5th. The asset manager reported $1.45 EPS for the quarter, missing the consensus estimate of $1.71 by ($0.26). Ares Management had a return on equity of 19.04% and a net margin of 9.41%.The business had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.38 billion. During the same period in the prior year, the business earned $0.55 EPS. Research analysts expect that Ares Management Corporation will post 6.22 earnings per share for the current year.

Ares Management Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Tuesday, March 17th were paid a dividend of $1.35 per share. This is an increase from Ares Management's previous quarterly dividend of $0.84. This represents a $5.40 annualized dividend and a yield of 4.8%. The ex-dividend date of this dividend was Tuesday, March 17th. Ares Management's payout ratio is 319.53%.

Insider Activity at Ares Management

In other Ares Management news, Director Judy D. Olian bought 480 shares of the firm's stock in a transaction that occurred on Friday, February 20th. The stock was acquired at an average price of $124.43 per share, with a total value of $59,726.40. Following the completion of the purchase, the director directly owned 29,734 shares of the company's stock, valued at approximately $3,699,801.62. This trade represents a 1.64% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Ashish Bhutani bought 10,000 shares of the firm's stock in a transaction that occurred on Friday, February 6th. The shares were acquired at an average cost of $126.61 per share, with a total value of $1,266,100.00. Following the purchase, the director directly owned 34,071 shares of the company's stock, valued at $4,313,729.31. This trade represents a 41.54% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 0.52% of the company's stock.

Wall Street Analysts Forecast Growth

ARES has been the subject of a number of analyst reports. Morgan Stanley lowered their price objective on Ares Management from $178.00 to $163.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 21st. Oppenheimer lowered their price objective on Ares Management from $215.00 to $147.00 and set an "outperform" rating for the company in a research report on Monday, April 13th. JPMorgan Chase & Co. lowered their price objective on Ares Management from $188.00 to $144.00 and set an "overweight" rating for the company in a research report on Tuesday. BMO Capital Markets lowered their price objective on Ares Management from $140.00 to $112.00 and set a "market perform" rating for the company in a research report on Tuesday, March 24th. Finally, Citizens Jmp lowered their price objective on Ares Management from $205.00 to $190.00 and set a "market outperform" rating for the company in a research report on Wednesday, April 22nd. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $165.31.

Ares Management Company Profile

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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