VIRGINIA RETIREMENT SYSTEMS ET Al Purchases Shares of 16,450 Ares Management Corporation $ARES

Key Points

• Virginia Retirement Systems purchased 16,450 shares of Ares Management valued at approximately $1.83 million during the second quarter. Institutional investors and hedge funds collectively own 50.03% of the company.
• Ares Management exceeded quarterly expectations, reporting $1.29 in EPS versus the $1.28 consensus and $1.43 billion in revenue, up 5.8% year over year.
• The company declared a quarterly dividend of $1.35 per share, equivalent to $5.40 annually and a 4.1% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $160.47.

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in Ares Management Corporation (NYSE:ARES - Free Report) during the second quarter, according to its most recent 13F filing with the SEC. The firm purchased 16,450 shares of the asset manager's stock, valued at approximately $1,831,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Triumph Capital Management raised its stake in shares of Ares Management by 127.3% during the 2nd quarter. Triumph Capital Management now owns 250 shares of the asset manager's stock worth $28,000 after acquiring an additional 140 shares in the last quarter. Osbon Capital Management LLC purchased a new position in Ares Management in the fourth quarter worth $32,000. Elyxium Wealth LLC purchased a new position in Ares Management in the fourth quarter worth $42,000. Summit Securities Group LLC acquired a new position in shares of Ares Management during the fourth quarter worth $49,000. Finally, Western Wealth Management LLC acquired a new position in shares of Ares Management during the first quarter worth $50,000. Hedge funds and other institutional investors own 50.03% of the company's stock.

Ares Management Trading Up 1.0%

NYSE:ARES opened at $131.93 on Friday. The company has a market capitalization of $43.57 billion, a P/E ratio of 60.52, a PEG ratio of 1.13 and a beta of 1.49. The company has a current ratio of 0.26, a quick ratio of 0.26 and a debt-to-equity ratio of 1.00. Ares Management Corporation has a 12 month low of $95.80 and a 12 month high of $186.85. The firm has a fifty day simple moving average of $133.40 and a 200-day simple moving average of $122.51.

Ares Management (NYSE:ARES - Get Free Report) last released its earnings results on Friday, July 31st. The asset manager reported $1.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.28 by $0.01. The firm had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.27 billion. Ares Management had a return on equity of 25.42% and a net margin of 10.63%.The firm's revenue was up 5.8% on a year-over-year basis. During the same period in the prior year, the firm earned $1.03 EPS. On average, equities research analysts anticipate that Ares Management Corporation will post 5.93 earnings per share for the current year.

Ares Management Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 16th will be issued a $1.35 dividend. The ex-dividend date of this dividend is Wednesday, September 16th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.1%. Ares Management's dividend payout ratio is currently 247.71%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on ARES shares. Keefe, Bruyette & Woods raised Ares Management to a "hold" rating in a research report on Monday, July 20th. Morgan Stanley set a $160.00 target price on Ares Management in a research report on Tuesday, July 21st. Citizens Jmp decreased their price target on Ares Management from $190.00 to $160.00 and set a "market outperform" rating for the company in a research note on Thursday, July 9th. JPMorgan Chase & Co. raised their price target on Ares Management from $143.00 to $153.00 and gave the stock an "overweight" rating in a report on Monday, August 3rd. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Ares Management in a research note on Friday, August 21st. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $160.47.

Ares Management 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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