Ares Management Corporation $ARES Stock Purchased by Generate Investment Management Ltd

Generate Investment Management Ltd increased its stake in shares of Ares Management Corporation (NYSE:ARES) by 107.7% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 259,567 shares of the asset manager’s stock after acquiring an additional 134,567 shares during the period. Ares Management makes up about 1.2% of Generate Investment Management Ltd’s investment portfolio, making the stock its 20th largest position. Generate Investment Management Ltd’s holdings in Ares Management were worth $30,154,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. B. Riley Wealth Advisors Inc. raised its stake in shares of Ares Management by 27.3% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 2,552 shares of the asset manager’s stock worth $296,000 after buying an additional 547 shares during the last quarter. GK Wealth Management LLC purchased a new position in Ares Management in the third quarter valued at approximately $51,000. Wedmont Private Capital lifted its stake in shares of Ares Management by 17.0% during the third quarter. Wedmont Private Capital now owns 2,894 shares of the asset manager’s stock worth $336,000 after purchasing an additional 420 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Ares Management by 85.3% during the third quarter. GAMMA Investing LLC now owns 3,479 shares of the asset manager’s stock worth $404,000 after purchasing an additional 1,601 shares in the last quarter. Finally, CoreCap Advisors LLC increased its holdings in Ares Management by 178.0% during the 3rd quarter. CoreCap Advisors LLC now owns 253 shares of the asset manager’s stock worth $29,000 after purchasing an additional 162 shares during the last quarter. 50.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have commented on ARES shares. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $144.00 target price on shares of Ares Management in a research note on Monday, August 3rd. UBS Group dropped their price target on Ares Management from $142.00 to $134.00 and set a “neutral” rating on the stock in a research note on Tuesday. Royal Bank Of Canada upped their price target on Ares Management from $162.00 to $168.00 and gave the company an “outperform” rating in a research report on Monday, August 3rd. Citigroup restated a “market outperform” rating on shares of Ares Management in a research note on Friday, October 9th. Finally, Barclays cut their price objective on Ares Management from $140.00 to $139.00 and set an “overweight” rating for the company in a research report on Thursday, July 9th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $155.38.

Ares Management Stock Performance

NYSE:ARES traded down $3.21 on Wednesday, hitting $112.41. The company’s stock had a trading volume of 1,017,129 shares, compared to its average volume of 2,922,750. The stock has a fifty day moving average of $131.63 and a two-hundred day moving average of $124.37. The company has a current ratio of 0.26, a quick ratio of 0.26 and a debt-to-equity ratio of 1.00. The firm has a market capitalization of $37.13 billion, a P/E ratio of 51.58, a price-to-earnings-growth ratio of 1.05 and a beta of 1.53. Ares Management Corporation has a one year low of $95.80 and a one year high of $181.19.

Ares Management (NYSE:ARES) last released its quarterly earnings results on Friday, July 31st. The asset manager reported $1.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.28 by $0.01. The business had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.27 billion. Ares Management had a return on equity of 25.42% and a net margin of 10.63%. The firm’s quarterly revenue was up 5.8% on a year-over-year basis. During the same period in the previous year, the company posted $1.03 EPS. Research analysts predict that Ares Management Corporation will post 5.90 earnings per share for the current year.

Ares Management Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Wednesday, September 16th were given a dividend of $1.35 per share. The ex-dividend date was Wednesday, September 16th. This represents a $5.40 dividend on an annualized basis and a yield of 4.8%. Ares Management’s payout ratio is currently 247.71%.

Ares Management Profile

Ares Management Corporation (NYSE: ARES) is a global alternative investment manager that provides investment solutions across credit, private equity, real assets and secondaries. The company serves institutional investors, including pension plans, insurance companies, endowments and foundations, as well as wealth-management clients and other investors.

Its investment businesses include direct lending and other private credit strategies, liquid credit, corporate private equity, real estate, infrastructure and secondary investments.