Saudi Central Bank Purchases 6,686 Shares of Ares Management Corporation $ARES

Saudi Central Bank lifted its holdings in shares of Ares Management Corporation (NYSE:ARES) by 83.5% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 14,690 shares of the asset manager’s stock after buying an additional 6,686 shares during the period. Saudi Central Bank’s holdings in Ares Management were worth $1,635,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. AlphaGrep UK Ltd acquired a new stake in shares of Ares Management in the second quarter worth $210,000. Odyssean LLC acquired a new stake in shares of Ares Management during the 2nd quarter worth approximately $2,453,000. Syon Capital LLC raised its stake in shares of Ares Management by 25.4% in the second quarter. Syon Capital LLC now owns 2,915 shares of the asset manager’s stock valued at $324,000 after purchasing an additional 590 shares in the last quarter. TD Waterhouse Canada Inc. boosted its stake in Ares Management by 744.9% during the second quarter. TD Waterhouse Canada Inc. now owns 10,621 shares of the asset manager’s stock worth $1,206,000 after buying an additional 9,364 shares in the last quarter. Finally, NEOS Investment Management LLC raised its stake in shares of Ares Management by 13.6% in the 2nd quarter. NEOS Investment Management LLC now owns 32,735 shares of the asset manager’s stock valued at $3,644,000 after buying an additional 3,908 shares in the last quarter. 50.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have weighed in on ARES. Citigroup reaffirmed a “market outperform” rating on shares of Ares Management in a report on Monday, August 3rd. Keefe, Bruyette & Woods raised shares of Ares Management to a “hold” rating in a report on Monday, July 20th. Morgan Stanley set a $160.00 price objective on shares of Ares Management in a research note on Tuesday, July 21st. Weiss Ratings reiterated a “hold (c)” rating on shares of Ares Management in a research note on Friday, August 21st. Finally, BMO Capital Markets boosted their target price on Ares Management from $128.00 to $134.00 and gave the stock a “market perform” rating in a report on Monday, August 3rd. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $160.47.

Ares Management Price Performance

Ares Management stock opened at $138.35 on Wednesday. The business’s 50-day simple moving average is $132.39 and its 200 day simple moving average is $122.36. 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 cap of $45.70 billion, a price-to-earnings ratio of 63.46, a P/E/G ratio of 1.21 and a beta of 1.49. Ares Management Corporation has a 12-month low of $95.80 and a 12-month high of $186.85.

Ares Management (NYSE:ARES) last announced its quarterly earnings data 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. The firm 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%.The company’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same period in the previous year, the business posted $1.03 EPS. As a group, research analysts anticipate that Ares Management Corporation will post 5.94 earnings per share for the current year.

Ares Management Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 16th will be paid a $1.35 dividend. 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 3.9%. Ares Management’s dividend payout ratio (DPR) is presently 247.71%.

About Ares Management

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.