Sumitomo Mitsui Trust Group Inc. Sells 4,333 Shares of Ares Management Corporation $ARES

Sumitomo Mitsui Trust Group Inc. cut its stake in shares of Ares Management Corporation (NYSE:ARES) by 1.0% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 440,317 shares of the asset manager’s stock after selling 4,333 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.13% of Ares Management worth $51,152,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Triumph Capital Management increased its holdings in shares of Ares Management by 127.3% during the 2nd 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 last quarter. CoreCap Advisors LLC boosted its holdings in 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 acquiring an additional 162 shares during the last quarter. Wellington Altus USA Inc. acquired a new position in Ares Management in the second quarter valued at $35,000. Anchor Investment Management LLC purchased a new stake in Ares Management during the second quarter valued at about $38,000. Finally, Root Financial Partners LLC purchased a new stake in Ares Management during the third quarter valued at about $41,000. 50.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have commented on ARES shares. BMO Capital Markets dropped their price target on Ares Management from $134.00 to $130.00 and set a “market perform” rating for the company in a research note on Tuesday, October 27th. Bank of America reduced their price objective on Ares Management from $160.00 to $156.00 in a research note on Monday, October 5th. Piper Sandler decreased their target price on Ares Management from $150.00 to $143.00 and set an “overweight” rating for the company in a report on Monday, October 19th. Jefferies Financial Group reduced their price target on shares of Ares Management from $144.00 to $132.00 and set a “hold” rating on the stock in a research report on Tuesday, October 6th. Finally, UBS Group reduced their price target on shares of Ares Management from $142.00 to $134.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 13th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and nine have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $146.21.

Ares Management Stock Up 6.2%

Shares of NYSE ARES opened at $136.97 on Thursday. Ares Management Corporation has a 12-month low of $95.80 and a 12-month high of $181.19. The company has a market cap of $45.24 billion, a P/E ratio of 110.46, a P/E/G ratio of 1.15 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. The stock has a fifty day moving average price of $125.48 and a 200 day moving average price of $124.71.

Ares Management (NYSE:ARES) last released its quarterly earnings data on Thursday, October 29th. The asset manager reported $1.26 EPS for the quarter, beating the consensus estimate of $1.25 by $0.01. The company had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.24 billion. Ares Management had a return on equity of 25.74% and a net margin of 7.51%. The firm’s revenue was down 13.5% compared to the same quarter last year. During the same period last year, the company posted $1.15 earnings per share. Research analysts anticipate that Ares Management Corporation will post 5.70 EPS for the current fiscal year.

Ares Management Dividend Announcement

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 paid a $1.35 dividend. The ex-dividend date is Thursday, December 17th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 3.9%. Ares Management’s dividend payout ratio (DPR) is 435.48%.

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 manages capital on behalf of institutional investors, pension funds, insurance companies, sovereign wealth funds, family offices and individual investors.

Its investment activities include direct lending and other credit strategies, control and minority investments in private companies, real estate and infrastructure investments, and secondary-market transactions involving private assets and fund interests.