Several hedge funds have recently changed their investments in Ares Management. Grayhawk Investment purchased a new stake valued at $1.1 million. EP Wealth Advisors raised its holdings by 32.5% to $2.7 million. Norden Group increased its stake dramatically by 2,695.3%, owning now $9.36 million. Sumitomo Mitsui Trust increased its holdings by 17.7% to about $52.83 million. Lastly, FORA Capital acquired a new stake worth $3.43 million. Hedge funds and institutional investors own 50.03% of the stock.
Ares Management Price Performance
Ares Management shares opened at $158.05. The company has a market cap of $48.97 billion, a PE ratio of 70.87, and is currently experiencing a price range of $96.00 to $159.95 over the past year. It has a debt-to-equity ratio of 0.52.
Quarterly Earnings
On August 2nd, Ares Management reported earnings of $0.99 per share, slightly exceeding estimates. Revenue was $788.68 million, below the expected $860.09 million. Analysts forecast an EPS of 4.15 for the current year.
Dividend Announcement
A quarterly dividend of $0.93 was announced, paid on September 30th. The annualized dividend is $3.72, yielding 2.35%, with a payout ratio of 166.82%.
Wall Street Analyst Opinions
Goldman Sachs raised their price target from $145 to $160. JPMorgan increased theirs from $141 to $143. Deutsche Bank slightly lowered theirs from $134 to $133. Currently, one analyst rates it as a sell, six as hold, and seven as buy, with an average rating of Hold and a target of $142.85.
Insider Trading
Insider Ryan Berry sold 12,500 shares for $1.93 million on September 18th. Another insider, R. Kipp Deveer, sold 41,676 shares for over $6.26 million. Insiders sold 604,316 shares in the past 90 days, representing 1.20% of the company stock.
Company Overview
Ares Management Corporation is an alternative asset manager operating in the U.S., Europe, and Asia, focusing on various investment funds for institutional and retail investors.
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