Sumitomo Mitsui Trust Group Inc. Sells 4,333 Shares of Ares Management Corporation $ARES

Sumitomo Mitsui Trust Group Inc. reduced its position in shares of Ares Management Corporation (NYSE:ARES) by 1.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 440,317 shares of the asset manager’s stock after selling 4,333 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Ares Management were worth $51,152,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Ares Management during the 3rd quarter worth $34,849,000. Profund Advisors LLC acquired a new position in Ares Management in the 3rd quarter worth $242,000. ProShare Advisors LLC boosted its position in Ares Management by 6.4% in the 3rd quarter. ProShare Advisors LLC now owns 53,500 shares of the asset manager’s stock valued at $6,215,000 after buying an additional 3,222 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al boosted its position in Ares Management by 82.7% in the 3rd quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 30,050 shares of the asset manager’s stock valued at $3,491,000 after buying an additional 13,600 shares during the last quarter. Finally, Choreo LLC grew its stake in shares of Ares Management by 9.9% during the third quarter. Choreo LLC now owns 15,693 shares of the asset manager’s stock valued at $1,823,000 after acquiring an additional 1,413 shares in the last quarter. 50.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. BMO Capital Markets dropped their target price on Ares Management from $134.00 to $130.00 and set a “market perform” rating on the stock in a research report on Tuesday, October 27th. Keefe, Bruyette & Woods increased their price target on Ares Management from $119.00 to $130.00 and gave the company a “market perform” rating in a report on Friday, October 30th. JPMorgan Chase & Co. reduced their price target on Ares Management from $155.00 to $154.00 and set an “overweight” rating for the company in a report on Friday, October 30th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $144.00 price objective (up from $140.00) on shares of Ares Management in a research note on Monday, August 3rd. Finally, Rothschild & Co Redburn lifted their price objective on Ares Management from $134.00 to $138.00 and gave the stock a “neutral” rating in a report on Tuesday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $146.21.

Ares Management Trading Up 6.2%

ARES opened at $136.97 on Thursday. Ares Management Corporation has a 12-month low of $95.80 and a 12-month high of $181.19. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.26 and a quick ratio of 0.26. The stock has a market capitalization of $45.24 billion, a PE ratio of 110.46, a P/E/G ratio of 1.15 and a beta of 1.49. The firm’s fifty day moving average price is $125.48 and its 200 day moving average price is $124.71.

Ares Management (NYSE:ARES) last announced its quarterly earnings data on Thursday, October 29th. The asset manager reported $1.26 earnings per share for the quarter, topping the consensus estimate of $1.25 by $0.01. The company had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.24 billion. Ares Management had a net margin of 7.51% and a return on equity of 25.74%. The firm’s revenue for the quarter was down 13.5% compared to the same quarter last year. During the same period last year, the business earned $1.15 EPS. As a group, research analysts expect that Ares Management Corporation will post 5.70 EPS for the current fiscal year.

Ares Management Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Thursday, December 17th will be given a dividend of $1.35 per share. The ex-dividend date of this dividend is Thursday, December 17th. This represents a $5.40 annualized dividend and a dividend yield of 3.9%. Ares Management’s dividend payout ratio (DPR) is presently 435.48%.

Ares Management Company 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 manages capital on behalf of institutional investors, pension funds, insurance companies, sovereign wealth funds, family offices and individual investors.

Its investment activities include direct lending and other credit strategies, control and minority investments in private companies, real estate and infrastructure investments, and secondary-market transactions involving private assets and fund interests.