Tokio Marine Asset Management Co. Ltd. Invests $1.01 Million in Ares Management Corporation $ARES

Key Points

• Tokio Marine Asset Management Co. Ltd. has made a new investment of approximately $1.01 million in Ares Management Corporation, acquiring 6,889 shares in the 1st quarter.
• Several institutional investors, including Canton Hathaway LLC and Bessemer Group Inc., have also increased their stakes in Ares Management, highlighting strong institutional interest.
• Ares Management has announced a quarterly dividend of $1.12 per share, with an annualized yield of 2.3%, despite a high payout ratio of 258.96%.

Tokio Marine Asset Management Co. Ltd. purchased a new position in shares of Ares Management Corporation (NYSE:ARES - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 6,889 shares of the asset manager's stock, valued at approximately $1,010,000.

A number of other institutional investors have also recently bought and sold shares of the business. Caitong International Asset Management Co. Ltd bought a new position in Ares Management in the 1st quarter valued at $78,000. National Pension Service grew its stake in Ares Management by 8.6% in the 1st quarter. National Pension Service now owns 260,730 shares of the asset manager's stock valued at $38,226,000 after purchasing an additional 20,630 shares during the period. Dagco Inc. bought a new position in Ares Management in the 1st quarter valued at $73,000. LGT Fund Management Co Ltd. grew its stake in Ares Management by 53.1% in the 1st quarter. LGT Fund Management Co Ltd. now owns 7,500 shares of the asset manager's stock valued at $1,100,000 after purchasing an additional 2,600 shares during the period. Finally, Prudential PLC grew its stake in Ares Management by 305.9% in the 1st quarter. Prudential PLC now owns 8,110 shares of the asset manager's stock valued at $1,189,000 after purchasing an additional 6,112 shares during the period. Institutional investors own 50.03% of the company's stock.

Wall Street Analysts Forecast Growth

ARES has been the subject of several research reports. Cfra Research upgraded Ares Management to a "moderate buy" rating in a research note on Monday, August 4th. Oppenheimer downgraded Ares Management from an "outperform" rating to a "market perform" rating in a research note on Thursday, May 15th. Royal Bank Of Canada increased their price target on Ares Management from $195.00 to $215.00 and gave the stock an "outperform" rating in a research note on Monday. Keefe, Bruyette & Woods increased their price target on Ares Management from $193.00 to $203.00 and gave the stock an "outperform" rating in a research note on Monday, August 4th. Finally, Citigroup reiterated an "outperform" rating on shares of Ares Management in a research note on Monday, July 14th. Thirteen research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, Ares Management has an average rating of "Moderate Buy" and an average price target of $180.06.

Insider Buying and Selling

In other news, Chairman Bennett Rosenthal sold 85,000 shares of Ares Management stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $168.79, for a total value of $14,347,150.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider David B. Kaplan sold 33,145 shares of Ares Management stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $165.12, for a total value of $5,472,902.40. The disclosure for this sale can be found here. Insiders have sold a total of 458,917 shares of company stock worth $81,863,970 in the last ninety days. 36.86% of the stock is owned by insiders.

Ares Management Price Performance

Shares of NYSE:ARES traded down $1.7890 on Wednesday, hitting $178.8010. The company's stock had a trading volume of 1,709,431 shares, compared to its average volume of 1,317,431. The company has a 50-day simple moving average of $179.29 and a 200 day simple moving average of $166.32. Ares Management Corporation has a 1 year low of $110.63 and a 1 year high of $200.49. The company has a market capitalization of $58.42 billion, a PE ratio of 103.35, a PEG ratio of 1.41 and a beta of 1.40. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.08 and a quick ratio of 1.08.

Ares Management (NYSE:ARES - Get Free Report) last announced its quarterly earnings data on Friday, August 1st. The asset manager reported $1.03 EPS for the quarter, missing the consensus estimate of $1.15 by ($0.12). The firm had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.02 billion. Ares Management had a net margin of 9.47% and a return on equity of 15.81%. During the same quarter last year, the company posted $0.99 earnings per share. Sell-side analysts forecast that Ares Management Corporation will post 5.28 EPS for the current fiscal year.

Ares Management Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th will be given a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a yield of 2.5%. The ex-dividend date is Tuesday, September 16th. Ares Management's dividend payout ratio (DPR) is presently 258.96%.

Ares Management 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.