Several hedge funds have recently adjusted their stakes in Ares Management. Grayhawk Investment Strategies bought a new stake worth $1.1 million in Q4. EP Wealth Advisors increased their stake by 32.5%, now holding 20,345 shares valued at $2.7 million. Norden Group’s stake rose by an impressive 2,695.3%, giving them 70,414 shares worth $9.36 million. Sumitomo Mitsui Trust raised its holdings by 17.7%, owning 397,285 shares valued at $52.83 million. FORA Capital also bought a stake worth $3.43 million. Currently, 50.03% of Ares Management’s shares are owned by institutions.
Ares Management Price Performance
Ares Management shares opened at $158.05. The company’s market cap is $48.97 billion, with a PE ratio of 70.87 and a beta of 1.21. They have a 1-year low of $96.00 and a high of $159.95. Key financial ratios include a debt-to-equity ratio of 0.52 and both current and quick ratios of 1.05.
Ares Management announced its quarterly earnings on August 2nd, reporting an EPS of $0.99, slightly above the expected $0.98. The company’s revenue was $788.68 million, below analysts expectations of $860.09 million. They posted a net margin of 12.53% and expect to report a 4.15 EPS for the year.
Ares Management Announces Dividend
On September 30th, Ares paid a quarterly dividend of $0.93 per share to shareholders recorded on September 16th. This results in an annualized dividend of $3.72 (yielding 2.35%) with a payout ratio of 166.82%.
Wall Street Analyst Opinions
Analysts are optimistic about Ares stock. Goldman Sachs raised their target from $145 to $160 with a buy rating. JPMorgan increased theirs from $141 to $143. Deutsche Bank slightly lowered their target to $133 with a hold rating. Barclays raised their target to $155. Currently, there is one sell rating, six hold ratings, and seven buy ratings, giving Ares a consensus price target of $142.85.
Insider Trading Activity at Ares Management
Insider Ryan Berry sold 12,500 shares on September 18th for roughly $1.93 million, leaving him with 376,702 shares valued at about $58.16 million. Another insider, R. Kipp Deveer, sold 41,676 shares on July 22nd for over $6.26 million. Over the past 90 days, insiders have sold 604,316 shares valued at $87.72 million, representing 1.20% of the shares held by insiders.
Ares Management Company Overview
Ares Management Corporation operates as an alternative asset manager globally, managing various investment funds for institutional and retail investors.
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