25,232 Shares in Ares Management Corporation $ARES Purchased by Granite Bay Wealth Management LLC

Granite Bay Wealth Management LLC acquired a new position in shares of Ares Management Corporation (NYSE:ARES) in the 3rd quarter, Holdings Channel.com reports. The firm acquired 25,232 shares of the asset manager’s stock, valued at approximately $4,034,000. Ares Management accounts for about 1.1% of Granite Bay Wealth Management LLC’s holdings, making the stock its 28th biggest position.

Other hedge funds also recently modified their holdings of the company. Norges Bank acquired a new stake in shares of Ares Management during the 2nd quarter worth approximately $328,910,000. Vanguard Group Inc. boosted its stake in Ares Management by 9.1% in the second quarter. Vanguard Group Inc. now owns 20,936,367 shares of the asset manager’s stock valued at $3,626,179,000 after acquiring an additional 1,746,376 shares during the last quarter. Winslow Capital Management LLC acquired a new stake in Ares Management during the 2nd quarter worth $161,774,000. Munro Partners bought a new stake in shares of Ares Management during the 3rd quarter valued at $58,218,000. Finally, Geode Capital Management LLC raised its position in shares of Ares Management by 7.6% during the 2nd quarter. Geode Capital Management LLC now owns 3,454,083 shares of the asset manager’s stock valued at $596,280,000 after acquiring an additional 244,286 shares during the last quarter. Institutional investors own 50.03% of the company’s stock.

Insider Transactions at Ares Management

In other Ares Management news, CEO Michael J. Arougheti sold 56,257 shares of Ares Management stock in a transaction on Monday, December 1st. The shares were sold at an average price of $157.26, for a total value of $8,846,975.82. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last quarter, insiders have sold 590,000 shares of company stock valued at $90,653,808. 36.86% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on ARES shares. Cowen restated a “buy” rating on shares of Ares Management in a research report on Tuesday, November 4th. TD Cowen increased their target price on Ares Management from $175.00 to $197.00 and gave the company a “buy” rating in a research note on Tuesday, November 4th. Bank of America boosted their target price on Ares Management from $196.00 to $197.00 and gave the stock a “buy” rating in a research report on Friday, October 3rd. Citigroup reaffirmed a “market outperform” rating on shares of Ares Management in a research note on Tuesday, October 21st. Finally, Morgan Stanley lowered their target price on shares of Ares Management from $178.00 to $175.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 21st. Thirteen analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $190.64.

Ares Management Stock Up 0.2%

Shares of Ares Management stock opened at $169.06 on Thursday. The firm has a market cap of $55.26 billion, a PE ratio of 72.56, a P/E/G ratio of 1.29 and a beta of 1.53. The business’s 50 day simple moving average is $156.49 and its 200 day simple moving average is $168.29. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.22 and a current ratio of 0.22. Ares Management Corporation has a 52-week low of $110.63 and a 52-week high of $200.49.

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

Ares Management Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Wednesday, December 17th will be given a $0.8438 dividend. The ex-dividend date of this dividend is Wednesday, December 17th. This represents a $3.38 dividend on an annualized basis and a yield of 2.0%. Ares Management’s dividend payout ratio (DPR) is 192.27%.

Ares Management Company 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.