Alyeska Investment Group L.P. Makes New Investment in Ares Management Co. (NYSE:ARES)

Alyeska Investment Group L.P. bought a new position in shares of Ares Management Co. (NYSE:ARES) during the first quarter, HoldingsChannel.com reports. The firm bought 91,068 shares of the asset manager’s stock, valued at approximately $5,103,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ARES. Marshall Wace LLP bought a new stake in Ares Management during the 1st quarter worth approximately $145,000. Public Employees Retirement System of Ohio raised its position in shares of Ares Management by 26.2% during the fourth quarter. Public Employees Retirement System of Ohio now owns 48,195 shares of the asset manager’s stock valued at $2,268,000 after buying an additional 9,996 shares during the last quarter. LPL Financial LLC raised its position in shares of Ares Management by 15.1% during the fourth quarter. LPL Financial LLC now owns 19,036 shares of the asset manager’s stock valued at $896,000 after buying an additional 2,498 shares during the last quarter. Engineers Gate Manager LP bought a new stake in shares of Ares Management during the fourth quarter valued at approximately $953,000. Finally, ETF Managers Group LLC raised its position in shares of Ares Management by 9.7% during the fourth quarter. ETF Managers Group LLC now owns 9,056 shares of the asset manager’s stock valued at $432,000 after buying an additional 804 shares during the last quarter. Institutional investors own 43.13% of the company’s stock.

Several equities research analysts have recently issued reports on ARES shares. BMO Capital Markets upgraded shares of Ares Management from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $63.00 to $68.00 in a research report on Monday, June 7th. Barclays lifted their price objective on shares of Ares Management from $58.00 to $62.00 and gave the company an “overweight” rating in a research report on Monday, April 12th. Zacks Investment Research cut shares of Ares Management from a “buy” rating to a “hold” rating in a research report on Tuesday, April 20th. Finally, Wells Fargo & Company raised their target price on shares of Ares Management from $68.00 to $71.00 and gave the company an “overweight” rating in a report on Monday, April 12th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $60.00.

In other Ares Management news, insider R. Kipp Deveer sold 126,787 shares of the business’s stock in a transaction dated Wednesday, May 26th. The shares were sold at an average price of $54.62, for a total value of $6,925,105.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Antoinette Cook Bush bought 5,106 shares of Ares Management stock in a transaction on Monday, June 14th. The stock was purchased at an average price of $58.79 per share, with a total value of $300,181.74. The disclosure for this purchase can be found here. Insiders own 49.34% of the company’s stock.

NYSE ARES opened at $64.14 on Thursday. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.14 and a quick ratio of 0.14. The stock’s fifty day moving average price is $58.99. The stock has a market capitalization of $16.81 billion, a price-to-earnings ratio of 33.80 and a beta of 1.03. Ares Management Co. has a 52 week low of $38.13 and a 52 week high of $65.65.

Ares Management (NYSE:ARES) last released its earnings results on Thursday, April 29th. The asset manager reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.05). The business had revenue of $411.25 million for the quarter, compared to the consensus estimate of $436.80 million. Ares Management had a return on equity of 15.46% and a net margin of 10.03%. As a group, research analysts anticipate that Ares Management Co. will post 2.2 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 30th. Investors of record on Wednesday, June 16th were issued a $0.47 dividend. The ex-dividend date was Tuesday, June 15th. This represents a $1.88 annualized dividend and a dividend yield of 2.93%. Ares Management’s payout ratio is currently 101.08%.

Ares Management Profile

Ares Management Corporation operates as an alternative asset manager in the United States, Europe, and Asia. The company's Tradable Credit Group segment manages various types of investment funds, such as commingled and separately managed accounts for institutional investors, and publicly traded vehicles and sub-advised funds for retail investors in the tradable and non-investment grade corporate credit markets.

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Institutional Ownership by Quarter for Ares Management (NYSE:ARES)

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