Independence Bank of Kentucky Takes Position in Ares Management Corporation $ARES

Independence Bank of Kentucky bought a new position in Ares Management Corporation (NYSE:ARES) during the second quarter, Holdings Channel reports. The firm bought 29,042 shares of the asset manager’s stock, valued at approximately $3,233,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. AQR Capital Management LLC lifted its holdings in Ares Management by 116.7% in the first quarter. AQR Capital Management LLC now owns 10,360 shares of the asset manager’s stock valued at $1,519,000 after acquiring an additional 5,579 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Ares Management by 5.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,344 shares of the asset manager’s stock worth $197,000 after purchasing an additional 70 shares in the last quarter. Empowered Funds LLC grew its stake in shares of Ares Management by 42.7% during the 1st quarter. Empowered Funds LLC now owns 6,197 shares of the asset manager’s stock worth $909,000 after purchasing an additional 1,853 shares during the period. Focus Partners Wealth increased its holdings in shares of Ares Management by 15.3% during the 1st quarter. Focus Partners Wealth now owns 1,902 shares of the asset manager’s stock valued at $279,000 after purchasing an additional 252 shares in the last quarter. Finally, Geneos Wealth Management Inc. increased its holdings in shares of Ares Management by 708.2% during the 1st quarter. Geneos Wealth Management Inc. now owns 493 shares of the asset manager’s stock valued at $72,000 after purchasing an additional 432 shares in the last quarter. 50.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on ARES shares. Royal Bank Of Canada increased their price target on shares of Ares Management from $162.00 to $168.00 and gave the stock an “outperform” rating in a report on Monday, August 3rd. Keefe, Bruyette & Woods raised shares of Ares Management to a “hold” rating in a report on Monday, July 20th. BMO Capital Markets upped their price objective on shares of Ares Management from $128.00 to $134.00 and gave the stock a “market perform” rating in a research report on Monday, August 3rd. Weiss Ratings reissued a “hold (c)” rating on shares of Ares Management in a research note on Friday, August 21st. Finally, Citigroup restated a “market outperform” rating on shares of Ares Management in a research report on Monday, August 3rd. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $160.47.

Ares Management Stock Performance

ARES opened at $138.54 on Wednesday. The firm’s fifty day simple moving average is $129.51 and its two-hundred day simple moving average is $122.13. Ares Management Corporation has a 52-week low of $95.80 and a 52-week high of $186.85. The company has a market cap of $45.76 billion, a price-to-earnings ratio of 63.55, a PEG ratio of 1.24 and a beta of 1.49. The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 1.00.

Ares Management (NYSE:ARES) last released its earnings results on Friday, July 31st. The asset manager reported $1.29 EPS for the quarter, topping analysts’ consensus estimates of $1.28 by $0.01. Ares Management had a net margin of 10.63% and a return on equity of 25.42%. The business had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.27 billion. During the same quarter in the previous year, the company earned $1.03 earnings per share. The company’s quarterly revenue was up 5.8% on a year-over-year basis. Equities analysts anticipate that Ares Management Corporation will post 5.94 earnings per share for the current fiscal year.

Ares Management Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 16th will be paid a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 3.9%. The ex-dividend date is Wednesday, September 16th. Ares Management’s payout ratio is 247.71%.

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.