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.
Recommended Reading
- Five stocks we prefer over Ares Management
- Top retail stocks for August
- S&P 500 resistance: 3 stocks with potential
- Leading stocks in the meme revival
- Nike’s earnings drop as a buying chance
- Promising biotech stocks to consider
- Microsoft’s targeted upside is worth a look
Want to see more hedge fund activity with ARES? Visit HoldingsChannel.com for the latest filings and trades.
`