Ares Management Corporation $ARES Shares Acquired by Rakuten Investment Management Inc.

Rakuten Investment Management Inc. boosted its holdings in Ares Management Corporation (NYSE:ARES) by 14.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 39,350 shares of the asset manager’s stock after acquiring an additional 4,912 shares during the period. Rakuten Investment Management Inc.’s holdings in Ares Management were worth $4,681,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Triumph Capital Management boosted its position in 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 period. CoreCap Advisors LLC raised its position in shares of Ares Management by 178.0% in the third quarter. CoreCap Advisors LLC now owns 253 shares of the asset manager’s stock valued at $29,000 after purchasing an additional 162 shares during the period. Wellington Altus USA Inc. acquired a new stake in shares of Ares Management during the 2nd quarter worth about $35,000. Anchor Investment Management LLC acquired a new stake in shares of Ares Management during the 2nd quarter worth about $38,000. Finally, Root Financial Partners LLC acquired a new stake in shares of Ares Management during the 3rd quarter worth about $41,000. Institutional investors and hedge funds own 50.03% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on ARES shares. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $144.00 price target (up from $140.00) on shares of Ares Management in a research note on Monday, August 3rd. Barclays raised their price objective on shares of Ares Management from $139.00 to $151.00 and gave the stock an “overweight” rating in a research report on Friday, October 30th. Morgan Stanley set a $149.00 price objective on Ares Management in a report on Friday, October 16th. JPMorgan Chase & Co. decreased their target price on Ares Management from $155.00 to $154.00 and set an “overweight” rating on the stock in a research report on Friday, October 30th. Finally, Keefe, Bruyette & Woods increased their target price on Ares Management from $119.00 to $130.00 and gave the stock a “market perform” rating in a research note on Friday, October 30th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $146.21.

Ares Management Stock Performance

Shares of NYSE:ARES traded up $0.34 on Friday, reaching $134.06. 1,561,940 shares of the company’s stock were exchanged, compared to its average volume of 2,336,315. The company has a fifty day moving average of $125.14 and a 200-day moving average of $124.39. Ares Management Corporation has a twelve month low of $95.80 and a twelve month high of $181.19. The company has a market capitalization of $44.28 billion, a price-to-earnings ratio of 108.12, a PEG ratio of 1.25 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 (NYSE:ARES) last released its quarterly earnings results on Thursday, October 29th. The asset manager reported $1.26 earnings per share for the quarter, beating analysts’ consensus estimates of $1.25 by $0.01. Ares Management had a net margin of 7.51% and a return on equity of 25.74%. The company had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.24 billion. During the same period in the previous year, the business earned $1.15 earnings per share. The firm’s quarterly revenue was down 13.5% on a year-over-year basis. On average, research analysts predict that Ares Management Corporation will post 5.70 EPS for the current fiscal year.

Ares Management Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Thursday, December 17th will be given a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date is Thursday, December 17th. Ares Management’s dividend payout ratio is presently 435.48%.

Ares Management Profile

Ares Management Corporation is a global alternative investment manager that provides investment solutions across credit, private equity, real estate and infrastructure. Its strategies include direct lending, liquid and opportunistic credit, asset-based finance, private equity investing, and real estate debt and equity.

Founded in 1997, the firm serves institutional and individual investors through investment funds and other vehicles. Ares operates across North America, Europe and the Asia-Pacific region.

Co-founder Michael Arougheti is the company’s chief executive officer.