Hartford Investment Management Co. Purchases Shares of 11,857 Ares Management Corporation $ARES

Hartford Investment Management Co. purchased a new stake in shares of Ares Management Corporation (NYSE:ARES) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 11,857 shares of the asset manager’s stock, valued at approximately $1,916,000.

Other hedge funds have also modified their holdings of the company. Redmont Wealth Advisors LLC purchased a new stake in shares of Ares Management during the third quarter valued at about $40,000. Atlantic Edge Private Wealth Management LLC purchased a new stake in shares of Ares Management during the fourth quarter valued at about $42,000. Washington Trust Advisors Inc. purchased a new stake in shares of Ares Management during the third quarter valued at about $50,000. First Horizon Corp purchased a new stake in shares of Ares Management during the third quarter valued at about $51,000. Finally, Covestor Ltd lifted its position in shares of Ares Management by 182.6% during the third quarter. Covestor Ltd now owns 421 shares of the asset manager’s stock valued at $67,000 after buying an additional 272 shares during the last quarter. 50.03% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Ares Management news, Director Judy D. Olian purchased 480 shares of the business’s stock in a transaction that occurred on Friday, February 20th. The shares were bought at an average price of $124.43 per share, for a total transaction of $59,726.40. Following the acquisition, the director owned 29,734 shares in the company, valued at $3,699,801.62. This represents a 1.64% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 36.86% of the company’s stock.

Ares Management Stock Performance

ARES opened at $128.68 on Friday. Ares Management Corporation has a 52-week low of $95.80 and a 52-week high of $195.26. The company has a quick ratio of 1.22, a current ratio of 0.23 and a debt-to-equity ratio of 0.96. The company has a market cap of $42.40 billion, a P/E ratio of 59.85, a price-to-earnings-growth ratio of 1.08 and a beta of 1.50. The firm’s 50-day moving average price is $111.50 and its 200-day moving average price is $138.19.

Ares Management (NYSE:ARES) last posted its quarterly earnings data on Friday, May 1st. The asset manager reported $1.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.32 by ($0.08). Ares Management had a net margin of 10.54% and a return on equity of 22.14%. The company had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.28 billion. During the same quarter last year, the company earned $1.09 EPS. As a group, equities analysts anticipate that Ares Management Corporation will post 6.05 EPS for the current fiscal year.

Ares Management Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 16th will be issued a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 4.2%. The ex-dividend date is Tuesday, June 16th. Ares Management’s dividend payout ratio is 251.16%.

Wall Street Analyst Weigh In

Several research firms have commented on ARES. Barclays increased their price target on shares of Ares Management from $127.00 to $140.00 and gave the company an “overweight” rating in a research report on Monday, May 4th. Raymond James Financial upgraded shares of Ares Management from a “market perform” rating to a “strong-buy” rating and set a $157.00 price objective on the stock in a report on Monday, February 9th. Oppenheimer restated an “outperform” rating and set a $146.00 price objective (down from $147.00) on shares of Ares Management in a report on Monday, May 4th. BMO Capital Markets cut their price objective on shares of Ares Management from $140.00 to $112.00 and set a “market perform” rating on the stock in a report on Tuesday, March 24th. Finally, Morgan Stanley cut their price objective on shares of Ares Management from $178.00 to $163.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 21st. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $166.06.

Ares Management 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.