National Pension Service Grows Position in Ares Management Corporation $ARES

National Pension Service boosted its position in shares of Ares Management Corporation (NYSE:ARES) by 18.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 367,433 shares of the asset manager’s stock after purchasing an additional 57,641 shares during the period. National Pension Service’s holdings in Ares Management were worth $40,899,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Osbon Capital Management LLC purchased a new position in shares of Ares Management during the fourth quarter valued at approximately $32,000. Triumph Capital Management raised its holdings in shares of Ares Management by 127.3% in the second quarter. Triumph Capital Management now owns 250 shares of the asset manager’s stock worth $28,000 after buying an additional 140 shares during the period. Elyxium Wealth LLC purchased a new stake in shares of Ares Management in the fourth quarter worth approximately $42,000. Summit Securities Group LLC bought a new stake in shares of Ares Management during the 4th quarter worth approximately $49,000. Finally, AlphaCentric Advisors LLC bought a new stake in shares of Ares Management during the 4th quarter worth approximately $62,000. 50.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have commented on ARES shares. Oppenheimer upped their price objective on Ares Management from $151.00 to $162.00 and gave the company an “outperform” rating in a research report on Thursday, August 27th. Morgan Stanley set a $160.00 target price on Ares Management in a research report on Tuesday, July 21st. Weiss Ratings reissued a “hold (c)” rating on shares of Ares Management in a research note on Friday, August 21st. JPMorgan Chase & Co. upped their price target on shares of Ares Management from $143.00 to $153.00 and gave the stock an “overweight” rating in a report on Monday, August 3rd. Finally, Keefe, Bruyette & Woods raised shares of Ares Management to a “hold” rating in a research note on Monday, July 20th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $160.47.

Ares Management Trading Up 1.0%

Shares of NYSE ARES opened at $131.93 on Friday. 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 business has a fifty day simple moving average of $133.40 and a two-hundred day simple moving average of $122.51. The firm has a market cap of $43.57 billion, a PE ratio of 60.52, a price-to-earnings-growth ratio of 1.14 and a beta of 1.49. Ares Management Corporation has a twelve month low of $95.80 and a twelve month high of $186.85.

Ares Management (NYSE:ARES) last issued its earnings results on Friday, July 31st. The asset manager reported $1.29 earnings per share for the quarter, topping the consensus estimate of $1.28 by $0.01. Ares Management had a return on equity of 25.42% and a net margin of 10.63%.The business had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.27 billion. During the same period in the prior year, the business earned $1.03 EPS. The business’s revenue for the quarter was up 5.8% compared to the same quarter last year. Analysts expect that Ares Management Corporation will post 5.93 earnings per share 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. Shareholders of record on Wednesday, September 16th will be given a dividend of $1.35 per share. The ex-dividend date of this dividend is Wednesday, September 16th. This represents a $5.40 dividend on an annualized basis and a yield of 4.1%. Ares Management’s dividend payout ratio (DPR) is 247.71%.

Ares Management Company 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.