2,451,063 Shares in Ares Management Corporation $ARES Bought by Norges Bank

Norges Bank bought a new position in shares of Ares Management Corporation (NYSE:ARES) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 2,451,063 shares of the asset manager’s stock, valued at approximately $396,165,000. Norges Bank owned about 0.75% of Ares Management as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the company. Eurizon Capital SGR S.p.A. bought a new position in Ares Management during the fourth quarter worth $2,686,000. Zhang Financial LLC raised its stake in Ares Management by 48.2% during the fourth quarter. Zhang Financial LLC now owns 4,497 shares of the asset manager’s stock worth $727,000 after buying an additional 1,463 shares during the last quarter. National Pension Service raised its stake in Ares Management by 12.9% during the fourth quarter. National Pension Service now owns 299,123 shares of the asset manager’s stock worth $48,347,000 after buying an additional 34,266 shares during the last quarter. Huntington National Bank raised its stake in Ares Management by 18.6% during the fourth quarter. Huntington National Bank now owns 1,139 shares of the asset manager’s stock worth $184,000 after buying an additional 179 shares during the last quarter. Finally, Kingsview Wealth Management LLC bought a new position in Ares Management during the fourth quarter worth $3,519,000. Institutional investors own 50.03% of the company’s stock.

Ares Management Trading Up 0.1%

ARES opened at $128.69 on Tuesday. 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 Corporation has a fifty-two week low of $95.80 and a fifty-two week high of $195.26. The firm has a market capitalization of $42.45 billion, a PE ratio of 59.86, a P/E/G ratio of 1.13 and a beta of 1.50. The company’s 50-day moving average is $115.85 and its 200 day moving average is $135.92.

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

Ares Management Announces Dividend

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

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. JPMorgan Chase & Co. lowered their target price on shares of Ares Management from $188.00 to $144.00 and set an “overweight” rating for the company in a research note on Tuesday, April 28th. Deutsche Bank Aktiengesellschaft raised shares of Ares Management from a “hold” rating to a “buy” rating and decreased their price target for the company from $182.00 to $155.00 in a research note on Friday, February 6th. TD Cowen decreased their price target on shares of Ares Management from $148.00 to $144.00 and set a “buy” rating for the company in a research note on Monday, May 18th. UBS Group set a $148.00 price target on shares of Ares Management in a research note on Friday, February 20th. Finally, Zacks Research raised shares of Ares Management from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 5th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price 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.