6,625 Shares in Ares Management Corporation $ARES Bought by North Dakota State Investment Board

North Dakota State Investment Board purchased a new position in Ares Management Corporation (NYSE:ARES) in the fourth quarter, HoldingsChannel.com reports. The institutional investor purchased 6,625 shares of the asset manager’s stock, valued at approximately $1,071,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Redmont Wealth Advisors LLC bought a new stake in shares of Ares Management during the third quarter worth $40,000. Atlantic Edge Private Wealth Management LLC bought a new stake in shares of Ares Management during the fourth quarter worth $42,000. Elyxium Wealth LLC bought a new stake in shares of Ares Management during the fourth quarter worth $42,000. Washington Trust Advisors Inc. bought a new stake in shares of Ares Management during the third quarter worth $50,000. Finally, Covestor Ltd lifted its position in shares of Ares Management by 182.6% during the third quarter. Covestor Ltd now owns 421 shares of the asset manager’s stock worth $67,000 after purchasing an additional 272 shares during the last quarter. 50.03% of the stock is currently owned by institutional investors.

Insider Transactions at Ares Management

In related news, Director Judy D. Olian bought 480 shares of the business’s stock in a transaction on Friday, February 20th. The shares were bought at an average price of $124.43 per share, for a total transaction of $59,726.40. Following the completion of the purchase, the director directly owned 29,734 shares of the company’s stock, valued at approximately $3,699,801.62. This trade represents a 1.64% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 36.86% of the stock is owned by company insiders.

Ares Management Stock Performance

Shares of Ares Management stock opened at $122.01 on Thursday. The firm has a market cap of $40.25 billion, a P/E ratio of 56.75, a P/E/G ratio of 1.06 and a beta of 1.50. 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 Corporation has a 12 month low of $95.80 and a 12 month high of $195.26. The stock’s fifty day moving average price is $112.27 and its 200-day moving average price is $137.42.

Ares Management (NYSE:ARES) last announced its quarterly earnings results on Friday, May 1st. The asset manager reported $1.24 EPS for the quarter, missing the consensus estimate of $1.32 by ($0.08). The firm had revenue of $1.40 billion for the quarter, compared to analysts’ expectations of $1.28 billion. Ares Management had a net margin of 10.54% and a return on equity of 22.14%. During the same quarter in the prior year, the business posted $1.09 EPS. On average, equities research analysts expect that Ares Management Corporation will post 6.05 earnings per share 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. Shareholders of record on Tuesday, June 16th will be paid a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 4.4%. The ex-dividend date is Tuesday, June 16th. Ares Management’s payout ratio is 251.16%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on ARES shares. The Goldman Sachs Group decreased their target price on Ares Management from $165.00 to $131.00 and set a “buy” rating for the company in a research report on Tuesday, April 7th. TD Cowen decreased their target price on Ares Management from $148.00 to $144.00 and set a “buy” rating for the company in a research report on Monday. JPMorgan Chase & Co. cut 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. Morgan Stanley cut their price target on Ares Management from $178.00 to $163.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 21st. Finally, Raymond James Financial upgraded 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. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, Ares Management has a consensus rating of “Moderate Buy” and a consensus price target of $162.56.

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.