Parnassus Investments LLC Sells 12,228 Shares of Ares Management Corporation $ARES

Parnassus Investments LLC trimmed its position in shares of Ares Management Corporation (NYSE:ARES) by 2.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 410,100 shares of the asset manager’s stock after selling 12,228 shares during the period. Parnassus Investments LLC owned 0.13% of Ares Management worth $65,571,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of ARES. Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in Ares Management by 24.1% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 109,891 shares of the asset manager’s stock valued at $17,570,000 after acquiring an additional 21,307 shares during the period. Nisa Investment Advisors LLC raised its stake in Ares Management by 25.0% during the 3rd quarter. Nisa Investment Advisors LLC now owns 1,220 shares of the asset manager’s stock valued at $195,000 after purchasing an additional 244 shares during the period. Benjamin Edwards Inc. lifted its holdings in Ares Management by 1.4% in the 3rd quarter. Benjamin Edwards Inc. now owns 103,378 shares of the asset manager’s stock worth $16,530,000 after purchasing an additional 1,382 shares in the last quarter. HB Wealth Management LLC grew its holdings in Ares Management by 33.3% during the 3rd quarter. HB Wealth Management LLC now owns 7,082 shares of the asset manager’s stock valued at $1,132,000 after buying an additional 1,770 shares in the last quarter. Finally, Spire Wealth Management raised its position in shares of Ares Management by 29.0% during the third quarter. Spire Wealth Management now owns 3,437 shares of the asset manager’s stock valued at $550,000 after buying an additional 772 shares during the last quarter. Institutional investors own 50.03% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on ARES. UBS Group assumed coverage on shares of Ares Management in a research note on Thursday, December 11th. They set a “neutral” rating and a $201.00 target price for the company. TD Cowen increased their price objective on shares of Ares Management from $175.00 to $197.00 and gave the company a “buy” rating in a report on Tuesday, November 4th. Oppenheimer set a $190.00 target price on Ares Management and gave the stock an “outperform” rating in a report on Tuesday, November 4th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $215.00 target price on shares of Ares Management in a research report on Monday, September 29th. Finally, Bank of America raised their price target on Ares Management from $196.00 to $197.00 and gave the company a “buy” rating in a report on Friday, October 3rd. Thirteen research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $192.14.

Insider Transactions at Ares Management

In other Ares Management news, CEO Michael J. Arougheti sold 56,257 shares of the business’s stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $157.26, for a total value of $8,846,975.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last three months, insiders have sold 590,000 shares of company stock valued at $90,653,808. 36.86% of the stock is owned by insiders.

Ares Management Stock Up 0.1%

NYSE ARES opened at $175.85 on Friday. Ares Management Corporation has a 52 week low of $110.63 and a 52 week high of $200.49. The firm has a market capitalization of $57.48 billion, a price-to-earnings ratio of 75.47, a PEG ratio of 1.04 and a beta of 1.53. The company has a quick ratio of 0.22, a current ratio of 0.22 and a debt-to-equity ratio of 0.62. The company has a fifty day moving average of $161.57 and a two-hundred day moving average of $168.42.

Ares Management (NYSE:ARES) last released its earnings results on Friday, October 31st. The asset manager reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.14 by $0.05. The firm had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.03 billion. Ares Management had a net margin of 11.72% and a return on equity of 16.33%. During the same quarter last year, the business earned $0.55 EPS. On average, analysts predict that Ares Management Corporation will post 5.28 earnings per share for the current year.

Ares Management Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Wednesday, December 17th were paid a $0.8438 dividend. This represents a $3.38 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend was Wednesday, December 17th. Ares Management’s dividend payout ratio (DPR) is currently 192.27%.

Ares Management Profile

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.