Ares Management Corporation $ARES Shares Purchased by King Luther Capital Management Corp

King Luther Capital Management Corp boosted its position in shares of Ares Management Corporation (NYSE:ARES) by 8.6% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 173,651 shares of the asset manager’s stock after acquiring an additional 13,680 shares during the quarter. King Luther Capital Management Corp’s holdings in Ares Management were worth $27,765,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of ARES. Exchange Traded Concepts LLC lifted its holdings in shares of Ares Management by 100.0% during the third quarter. Exchange Traded Concepts LLC now owns 190 shares of the asset manager’s stock worth $30,000 after purchasing an additional 95 shares during the period. Elevation Point Wealth Partners LLC acquired a new stake in Ares Management during the 2nd quarter valued at approximately $35,000. Redmont Wealth Advisors LLC purchased a new stake in shares of Ares Management in the 3rd quarter valued at $40,000. First Horizon Corp acquired a new stake in shares of Ares Management in the third quarter worth $51,000. Finally, Covestor Ltd raised its holdings 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 owned by institutional investors and hedge funds.

Ares Management Stock Performance

Shares of ARES stock opened at $134.11 on Thursday. The company has a current ratio of 0.22, a quick ratio of 0.22 and a debt-to-equity ratio of 0.62. Ares Management Corporation has a 12-month low of $110.63 and a 12-month high of $195.26. The business’s 50 day moving average is $157.95 and its two-hundred day moving average is $162.40. The company has a market capitalization of $43.84 billion, a P/E ratio of 79.36, a P/E/G ratio of 0.79 and a beta of 1.52.

Ares Management (NYSE:ARES) last announced its earnings results on Thursday, February 5th. The asset manager reported $1.45 earnings per share for the quarter, missing the consensus estimate of $1.71 by ($0.26). Ares Management had a return on equity of 19.26% and a net margin of 9.41%.The business had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.38 billion. During the same period in the previous year, the company earned $0.55 earnings per share. Analysts expect that Ares Management Corporation will post 5.28 EPS for the current fiscal year.

Ares Management Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 17th will be issued a dividend of $1.35 per share. The ex-dividend date of this dividend is Tuesday, March 17th. This is a positive change from Ares Management’s previous quarterly dividend of $0.84. This represents a $5.40 annualized dividend and a yield of 4.0%. Ares Management’s payout ratio is 265.09%.

Insider Activity

In related news, Director Ashish Bhutani purchased 10,000 shares of Ares Management stock in a transaction that occurred on Friday, February 6th. The stock was purchased at an average price of $126.61 per share, for a total transaction of $1,266,100.00. Following the transaction, the director directly owned 34,071 shares in the company, valued at approximately $4,313,729.31. This trade represents a 41.54% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Michael J. Arougheti sold 56,257 shares of Ares Management stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $157.26, for a total value of $8,846,975.82. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 590,000 shares of company stock worth $90,653,808. Company insiders own 36.86% of the company’s stock.

Analyst Upgrades and Downgrades

ARES has been the topic of several recent research reports. Wolfe Research set a $210.00 price target on shares of Ares Management and gave the company an “outperform” rating in a report on Wednesday, January 7th. Oppenheimer lowered their target price on Ares Management from $224.00 to $215.00 and set an “outperform” rating on the stock in a research note on Friday, February 6th. Morgan Stanley set a $178.00 target price on Ares Management in a report on Tuesday, January 27th. TD Cowen reissued a “buy” rating on shares of Ares Management in a report on Wednesday, January 14th. Finally, Keefe, Bruyette & Woods upped their price objective on Ares Management from $188.00 to $189.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 4th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, Ares Management currently has an average rating of “Moderate Buy” and a consensus price target of $186.47.

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.