Hamlin Capital Management LLC Grows Stake in Ares Management Corporation $ARES

Hamlin Capital Management LLC boosted its stake in shares of Ares Management Corporation (NYSE:ARES) by 6.6% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 1,022,899 shares of the asset manager’s stock after buying an additional 63,265 shares during the quarter. Ares Management accounts for 2.9% of Hamlin Capital Management LLC’s investment portfolio, making the stock its 18th biggest position. Hamlin Capital Management LLC’s holdings in Ares Management were worth $118,830,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Renaissance Technologies LLC acquired a new position in shares of Ares Management during the 1st quarter worth approximately $9,350,000. Junto Capital Management LP acquired a new stake in Ares Management during the 2nd quarter valued at $40,084,000. National Pension Service boosted its position in Ares Management by 18.6% during the second quarter. National Pension Service now owns 367,433 shares of the asset manager’s stock worth $40,899,000 after purchasing an additional 57,641 shares during the period. Wealthfront Advisers LLC increased its holdings in shares of Ares Management by 88.7% in the first quarter. Wealthfront Advisers LLC now owns 43,582 shares of the asset manager’s stock valued at $4,755,000 after purchasing an additional 20,490 shares during the last quarter. Finally, Bank of Nova Scotia increased its holdings in shares of Ares Management by 156.1% in the first quarter. Bank of Nova Scotia now owns 79,469 shares of the asset manager’s stock valued at $8,671,000 after purchasing an additional 48,438 shares during the last quarter. Institutional investors and hedge funds own 50.03% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Royal Bank Of Canada raised their target price on shares of Ares Management from $162.00 to $168.00 and gave the stock an “outperform” rating in a research note on Monday, August 3rd. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $144.00 price target on shares of Ares Management in a report on Monday, August 3rd. Citizens Jmp reduced their price objective on Ares Management from $190.00 to $160.00 and set a “market outperform” rating for the company in a report on Thursday, July 9th. BMO Capital Markets upped their target price on Ares Management from $128.00 to $134.00 and gave the company a “market perform” rating in a research report on Monday, August 3rd. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Ares Management in a report on Friday, August 21st. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $156.00.

Ares Management Stock Performance

Ares Management stock traded down $0.23 during midday trading on Thursday, hitting $115.52. The company’s stock had a trading volume of 529,997 shares, compared to its average volume of 2,936,242. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.26 and a quick ratio of 0.26. The company has a market cap of $38.15 billion, a price-to-earnings ratio of 52.86, a PEG ratio of 1.05 and a beta of 1.53. Ares Management Corporation has a 1-year low of $95.80 and a 1-year high of $181.19. The company has a 50-day moving average price of $132.95 and a two-hundred day moving average price of $124.08.

Ares Management (NYSE:ARES) last announced its earnings results on Friday, July 31st. The asset manager reported $1.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.28 by $0.01. Ares Management had a net margin of 10.63% and a return on equity of 25.42%. The firm had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.27 billion. During the same quarter in the prior year, the business posted $1.03 EPS. The business’s revenue was up 5.8% compared to the same quarter last year. As a group, sell-side analysts predict that Ares Management Corporation will post 5.9 earnings per share for the current year.

Ares Management Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Wednesday, September 16th were given a dividend of $1.35 per share. The ex-dividend date of this dividend was Wednesday, September 16th. This represents a $5.40 dividend on an annualized basis and a yield of 4.7%. Ares Management’s dividend payout ratio is currently 247.71%.

Ares Management Company Profile

Ares Management Corporation (NYSE: ARES) is a global alternative investment manager that provides investment solutions across credit, private equity, real assets and secondaries. The company serves institutional investors, including pension plans, insurance companies, endowments and foundations, as well as wealth-management clients and other investors.

Its investment businesses include direct lending and other private credit strategies, liquid credit, corporate private equity, real estate, infrastructure and secondary investments.