Geode Capital Management LLC Acquires 1,963,460 Shares of Ares Management Corporation $ARES

Geode Capital Management LLC lifted its stake in Ares Management Corporation (NYSE:ARES) by 55.7% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 5,489,004 shares of the asset manager’s stock after buying an additional 1,963,460 shares during the quarter. Geode Capital Management LLC’s holdings in Ares Management were worth $883,716,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Redmont Wealth Advisors LLC acquired a new position in shares of Ares Management in the 3rd quarter worth approximately $40,000. Atlantic Edge Private Wealth Management LLC acquired a new position in shares of Ares Management in the 4th quarter worth approximately $42,000. Elyxium Wealth LLC acquired a new position in shares of Ares Management in the 4th quarter worth approximately $42,000. Washington Trust Advisors Inc. acquired a new position in shares of Ares Management in the 3rd quarter worth approximately $50,000. Finally, Leonteq Securities AG acquired a new position in shares of Ares Management in the 4th quarter worth approximately $70,000. 50.03% of the stock is owned by institutional investors and hedge funds.

Ares Management Stock Up 2.2%

Shares of ARES opened at $128.75 on Friday. The business’s 50 day simple moving average is $115.44 and its 200-day simple moving average is $136.22. 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 one year low of $95.80 and a one year high of $195.26. The company has a market capitalization of $42.47 billion, a P/E ratio of 59.89, a PEG ratio of 1.10 and a beta of 1.50.

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

Ares Management Announces Dividend

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

Wall Street Analyst Weigh In

Several research firms have recently weighed in on ARES. Morgan Stanley lowered their target price on shares of Ares Management from $178.00 to $163.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 21st. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Ares Management in a report on Wednesday, April 29th. UBS Group set a $148.00 target price on shares of Ares Management in a report on Friday, February 20th. Deutsche Bank Aktiengesellschaft raised shares of Ares Management from a “hold” rating to a “buy” rating and lowered their target price for the stock from $182.00 to $155.00 in a report on Friday, February 6th. Finally, BMO Capital Markets lowered their target price on shares of Ares Management from $140.00 to $112.00 and set a “market perform” rating on the stock in a report on Tuesday, March 24th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $162.56.

Ares Management 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.