11,857 Shares in Ares Management Corporation $ARES Acquired by Hartford Investment Management Co.

Hartford Investment Management Co. purchased a new position in Ares Management Corporation (NYSE:ARES) during the 4th quarter, HoldingsChannel reports. The institutional investor purchased 11,857 shares of the asset manager’s stock, valued at approximately $1,916,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Redmont Wealth Advisors LLC acquired a new stake in shares of Ares Management during the 3rd quarter worth approximately $40,000. Atlantic Edge Private Wealth Management LLC purchased a new position in shares of Ares Management during the 4th quarter valued at approximately $42,000. Washington Trust Advisors Inc. purchased a new position in shares of Ares Management during the 3rd quarter valued at approximately $50,000. First Horizon Corp purchased a new position in Ares Management in the 3rd quarter valued at $51,000. Finally, Covestor Ltd lifted its holdings in Ares Management by 182.6% in the 3rd quarter. Covestor Ltd now owns 421 shares of the asset manager’s stock valued at $67,000 after purchasing an additional 272 shares in the last quarter. Institutional investors and hedge funds own 50.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. JPMorgan Chase & Co. decreased their price objective on Ares Management from $188.00 to $144.00 and set an “overweight” rating on the stock in a report on Tuesday, April 28th. The Goldman Sachs Group cut their price objective on Ares Management from $165.00 to $131.00 and set a “buy” rating for the company in a research report on Tuesday, April 7th. Citizens Jmp cut their price objective on Ares Management from $205.00 to $190.00 and set a “market outperform” rating for the company in a research report on Wednesday, April 22nd. Oppenheimer reaffirmed an “outperform” rating and issued a $146.00 target price (down from $147.00) on shares of Ares Management in a research report on Monday, May 4th. Finally, Deutsche Bank Aktiengesellschaft raised Ares Management from a “hold” rating to a “buy” rating and dropped their target price for the company from $182.00 to $155.00 in a research report on Friday, February 6th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $166.06.

Ares Management Price Performance

ARES stock opened at $128.68 on Friday. The business has a 50 day moving average price of $111.50 and a 200 day moving average price of $138.19. The stock has a market cap of $42.40 billion, a price-to-earnings ratio of 59.85, a PEG ratio of 1.08 and a beta of 1.50. Ares Management Corporation has a fifty-two week low of $95.80 and a fifty-two week high of $195.26. The company has a quick ratio of 1.22, a current ratio of 0.23 and a debt-to-equity ratio of 0.96.

Ares Management (NYSE:ARES) last posted its earnings results on Friday, May 1st. The asset manager reported $1.24 earnings per share for the quarter, missing the consensus estimate of $1.32 by ($0.08). Ares Management had a return on equity of 22.14% and a net margin of 10.54%.The business had revenue of $1.40 billion for the quarter, compared to analysts’ expectations of $1.28 billion. During the same quarter in the previous year, the firm earned $1.09 EPS. Equities research analysts anticipate that Ares Management Corporation will post 6.05 earnings per share for the current fiscal year.

Ares Management Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th will be paid a $1.35 dividend. The ex-dividend date is Tuesday, June 16th. This represents a $5.40 dividend on an annualized basis and a yield of 4.2%. Ares Management’s payout ratio is currently 251.16%.

Insiders Place Their Bets

In other news, Director Judy D. Olian acquired 480 shares of Ares Management stock in a transaction on Friday, February 20th. The stock was bought at an average price of $124.43 per share, for a total transaction of $59,726.40. Following the completion of the purchase, the director owned 29,734 shares in the company, valued at $3,699,801.62. This represents a 1.64% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 36.86% of the company’s stock.

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.