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

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in Ares Management Corporation (NYSE:ARES) during the 2nd quarter, Holdings Channel.com reports. The fund acquired 16,450 shares of the asset manager’s stock, valued at approximately $1,831,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in ARES. Triumph Capital Management raised its holdings in shares of Ares Management by 127.3% during the second quarter. Triumph Capital Management now owns 250 shares of the asset manager’s stock worth $28,000 after purchasing an additional 140 shares during the last quarter. Osbon Capital Management LLC acquired a new stake in Ares Management during the 4th quarter worth about $32,000. Elyxium Wealth LLC acquired a new stake in Ares Management during the 4th quarter worth about $42,000. Summit Securities Group LLC purchased a new position in shares of Ares Management during the 4th quarter valued at about $49,000. Finally, Western Wealth Management LLC purchased a new position in shares of Ares Management during the 1st quarter valued at about $50,000. Institutional investors and hedge funds own 50.03% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Wall Street Zen downgraded Ares Management from a “hold” rating to a “sell” rating in a research note on Saturday, July 4th. Citigroup reiterated a “market outperform” rating on shares of Ares Management in a research report on Monday, August 3rd. Weiss Ratings reissued a “hold (c)” rating on shares of Ares Management in a report on Friday, August 21st. Morgan Stanley set a $160.00 price objective on Ares Management in a research report on Tuesday, July 21st. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $144.00 price objective on shares of Ares Management in a research note on Monday, August 3rd. One equities research 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.com, Ares Management has a consensus rating of “Moderate Buy” and an average price target of $160.47.

Ares Management Price Performance

NYSE:ARES opened at $131.93 on Friday. Ares Management Corporation has a 52 week low of $95.80 and a 52 week high of $186.85. The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 1.00. The stock has a market capitalization of $43.57 billion, a PE ratio of 60.52, a price-to-earnings-growth ratio of 1.13 and a beta of 1.49. The stock’s 50-day moving average price is $133.40 and its 200-day moving average price is $122.51.

Ares Management (NYSE:ARES) last released its quarterly earnings results on Friday, July 31st. The asset manager reported $1.29 earnings per share for the quarter, topping analysts’ consensus estimates of $1.28 by $0.01. The company had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.27 billion. Ares Management had a return on equity of 25.42% and a net margin of 10.63%.Ares Management’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.03 EPS. As a group, equities analysts expect that Ares Management Corporation will post 5.93 EPS for the current fiscal year.

Ares Management Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 16th will be paid a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 4.1%. The ex-dividend date of this dividend is Wednesday, September 16th. Ares Management’s dividend payout ratio is presently 247.71%.

About Ares Management

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.