Ares Management Corporation $ARES Stock: Rakuten Investment Management Inc. Increases Holdings

Rakuten Investment Management Inc. boosted its holdings in shares of Ares Management Corporation (NYSE:ARES) by 14.3% in the 3rd quarter, Holdings Channel reports. The firm owned 39,350 shares of the asset manager’s stock after buying an additional 4,912 shares during the period. Rakuten Investment Management Inc.’s holdings in Ares Management were worth $4,681,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. Triumph Capital Management increased its stake in shares of Ares Management by 127.3% in the 2nd quarter. Triumph Capital Management now owns 250 shares of the asset manager’s stock valued at $28,000 after purchasing an additional 140 shares during the last quarter. CoreCap Advisors LLC lifted its position in shares of Ares Management by 178.0% during the 3rd quarter. CoreCap Advisors LLC now owns 253 shares of the asset manager’s stock worth $29,000 after buying an additional 162 shares during the last quarter. Wellington Altus USA Inc. bought a new position in shares of Ares Management in the second quarter worth about $35,000. Anchor Investment Management LLC acquired a new position in Ares Management during the 2nd quarter worth approximately $38,000. Finally, Root Financial Partners LLC bought a new position in Ares Management in the 3rd quarter valued at approximately $41,000. Institutional investors and hedge funds own 50.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on ARES. Barclays raised their target price on shares of Ares Management from $139.00 to $151.00 and gave the company an “overweight” rating in a research report on Friday, October 30th. JPMorgan Chase & Co. dropped their price target on Ares Management from $155.00 to $154.00 and set an “overweight” rating for the company in a research note on Friday, October 30th. TD Cowen cut their price objective on Ares Management from $159.00 to $158.00 and set a “buy” rating on the stock in a report on Friday, October 30th. Bank of America reduced their price objective on Ares Management from $160.00 to $156.00 in a research report on Monday, October 5th. Finally, The Goldman Sachs Group reduced their price objective on Ares Management from $145.00 to $139.00 and set a “buy” rating on the stock in a research report on Friday, October 2nd. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $146.21.

Ares Management Trading Up 0.3%

NYSE:ARES traded up $0.34 during trading hours on Friday, hitting $134.06. 1,561,940 shares of the company were exchanged, compared to its average volume of 2,336,315. The stock has a market capitalization of $44.28 billion, a price-to-earnings ratio of 108.12, a price-to-earnings-growth 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 Corporation has a one year low of $95.80 and a one year high of $181.19. The company has a fifty day simple moving average of $125.14 and a 200 day simple moving average of $124.39.

Ares Management (NYSE:ARES) last announced its earnings results on Thursday, October 29th. The asset manager reported $1.26 EPS for the quarter, topping the consensus estimate of $1.25 by $0.01. Ares Management had a return on equity of 25.74% and a net margin of 7.51%. The firm had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.24 billion. During the same period in the previous year, the business earned $1.15 EPS. The business’s quarterly revenue was down 13.5% compared to the same quarter last year. Sell-side analysts expect that Ares Management Corporation will post 5.70 EPS for the current fiscal year.

Ares Management Dividend Announcement

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

Ares Management Company 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.