9,400 Shares in Ares Management Corporation $ARES Bought by New Mexico Educational Retirement Board

New Mexico Educational Retirement Board purchased a new position in Ares Management Corporation (NYSE:ARES) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 9,400 shares of the asset manager’s stock, valued at approximately $1,519,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Redmont Wealth Advisors LLC purchased a new stake in Ares Management in the third quarter worth $40,000. Atlantic Edge Private Wealth Management LLC purchased a new stake in Ares Management in the fourth quarter worth $42,000. Elyxium Wealth LLC purchased a new stake in Ares Management in the fourth quarter worth $42,000. Washington Trust Advisors Inc. purchased a new stake in Ares Management in the third quarter worth $50,000. Finally, Leonteq Securities AG purchased a new stake in Ares Management in the fourth quarter worth $70,000. 50.03% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Wall Street Zen cut Ares Management from a “hold” rating to a “sell” rating in a research note on Saturday, February 28th. Raymond James Financial raised Ares Management from a “market perform” rating to a “strong-buy” rating and set a $157.00 price target on the stock in a research note on Monday, February 9th. JPMorgan Chase & Co. reduced their price target on Ares Management from $188.00 to $144.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 28th. Deutsche Bank Aktiengesellschaft raised Ares Management from a “hold” rating to a “buy” rating and reduced their price target for the stock from $182.00 to $155.00 in a research note on Friday, February 6th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Ares Management in a research note on Tuesday, May 26th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $162.56.

Ares Management Trading Down 0.4%

NYSE ARES opened at $128.18 on Wednesday. Ares Management Corporation has a 12 month low of $95.80 and a 12 month high of $195.26. The stock has a market cap of $42.28 billion, a P/E ratio of 59.62, a P/E/G ratio of 1.13 and a beta of 1.51. The stock’s fifty day moving average price is $115.85 and its 200-day moving average price is $135.92. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.96.

Ares Management (NYSE:ARES) last released its earnings results on Friday, May 1st. The asset manager reported $1.24 EPS for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.08). Ares Management had a return on equity of 22.14% and a net margin of 10.54%.The company had revenue of $1.40 billion during the quarter, compared to analysts’ expectations of $1.28 billion. During the same period in the prior year, the company posted $1.09 earnings per share. As a group, equities analysts forecast that Ares Management Corporation will post 6.06 EPS for the current fiscal year.

Ares Management Dividend Announcement

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

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.