Castle Hook Partners LP Purchases New Position in Ares Management Corporation $ARES

Castle Hook Partners LP purchased a new stake in Ares Management Corporation (NYSE:ARES) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 173,679 shares of the asset manager’s stock, valued at approximately $28,072,000. Castle Hook Partners LP owned approximately 0.05% of Ares Management as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. increased its stake in shares of Ares Management by 20.2% in the 4th quarter. Vanguard Group Inc. now owns 26,050,425 shares of the asset manager’s stock valued at $4,210,530,000 after purchasing an additional 4,373,955 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of Ares Management by 26.3% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 5,705,599 shares of the asset manager’s stock valued at $922,196,000 after purchasing an additional 1,187,174 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Ares Management by 55.7% in the 4th quarter. Geode Capital Management LLC now owns 5,489,004 shares of the asset manager’s stock valued at $883,716,000 after purchasing an additional 1,963,460 shares in the last quarter. Capital International Investors increased its stake in shares of Ares Management by 0.3% in the 4th quarter. Capital International Investors now owns 4,257,710 shares of the asset manager’s stock valued at $688,176,000 after purchasing an additional 14,516 shares in the last quarter. Finally, Principal Financial Group Inc. increased its stake in shares of Ares Management by 8.6% in the 4th quarter. Principal Financial Group Inc. now owns 3,839,693 shares of the asset manager’s stock valued at $620,616,000 after purchasing an additional 304,920 shares in the last quarter. Hedge funds and other institutional investors own 50.03% of the company’s stock.

Ares Management Price Performance

Shares of Ares Management stock opened at $128.40 on Thursday. The business has a 50 day simple moving average of $121.66 and a two-hundred day simple moving average of $134.35. Ares Management Corporation has a 12 month low of $95.80 and a 12 month high of $195.26. The stock has a market capitalization of $42.35 billion, a P/E ratio of 59.72, a PEG ratio of 1.18 and a beta of 1.51. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.23 and a quick ratio of 0.23.

Ares Management (NYSE:ARES) last announced its earnings results on Friday, May 1st. The asset manager reported $1.24 EPS for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.08). Ares Management had a net margin of 10.54% and a return on equity of 22.14%. The firm had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.28 billion. During the same period in the previous year, the company earned $1.09 EPS. As a group, analysts predict that Ares Management Corporation will post 6.06 EPS for the current fiscal year.

Ares Management Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th will be given a $1.35 dividend. The ex-dividend date is Tuesday, June 16th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.2%. Ares Management’s dividend payout ratio is 251.16%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on ARES. BMO Capital Markets cut their price target on Ares Management from $140.00 to $112.00 and set a “market perform” rating for the company in a research note on Tuesday, March 24th. TD Cowen reduced their target price on Ares Management from $148.00 to $144.00 and set a “buy” rating for the company in a report on Monday, May 18th. Wall Street Zen raised Ares Management from a “sell” rating to a “hold” rating in a report on Saturday, June 6th. Zacks Research raised Ares Management from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 5th. Finally, Citizens Jmp reduced their target price on Ares Management from $205.00 to $190.00 and set a “market outperform” rating for the company in a report on Wednesday, April 22nd. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $162.56.

About Ares Management

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.