Barclays PLC Boosts Position in Ares Management Co. (NYSE:ARES)

Posted by Defense World Staff on Jun 12th, 2023

Barclays PLC grew its holdings in shares of Ares Management Co. (NYSE:ARES – Get Rating) by 397.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 135,526 shares of the asset manager’s stock after buying an additional 108,259 shares during the period. Barclays PLC’s holdings in Ares Management were worth $9,275,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. Geneos Wealth Management Inc. boosted its position in shares of Ares Management by 300.0% during the first quarter. Geneos Wealth Management Inc. now owns 400 shares of the asset manager’s stock valued at $32,000 after purchasing an additional 300 shares in the last quarter. Zions Bancorporation N.A. bought a new stake in Ares Management in the fourth quarter worth $46,000. Achmea Investment Management B.V. bought a new stake in Ares Management in the fourth quarter worth $54,000. Koesten Hirschmann & Crabtree INC. bought a new stake in Ares Management in the fourth quarter worth $65,000. Finally, CWM LLC boosted its holdings in Ares Management by 43.7% in the fourth quarter. CWM LLC now owns 1,134 shares of the asset manager’s stock worth $78,000 after acquiring an additional 345 shares in the last quarter. 47.96% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Ares Management news, General Counsel Aghili Naseem Sagati sold 11,531 shares of the company’s stock in a transaction dated Friday, May 19th. The stock was sold at an average price of $83.07, for a total value of $957,880.17. Following the completion of the sale, the general counsel now owns 243,232 shares in the company, valued at $20,205,282.24. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, General Counsel Aghili Naseem Sagati sold 11,531 shares of the company’s stock in a transaction dated Friday, May 19th. The stock was sold at an average price of $83.07, for a total value of $957,880.17. Following the completion of the transaction, the general counsel now owns 243,232 shares of the company’s stock, valued at $20,205,282.24. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Michael J. Arougheti sold 258,163 shares of the company’s stock in a transaction dated Tuesday, June 6th. The stock was sold at an average price of $90.92, for a total value of $23,472,179.96. Following the completion of the transaction, the chief executive officer now directly owns 367,678 shares of the company’s stock, valued at approximately $33,429,283.76. The disclosure for this sale can be found here. Over the last quarter, insiders purchased 1,990,756 shares of company stock worth $43,335,824 and sold 7,544,396 shares worth $218,022,868. Company insiders own 47.34% of the company’s stock.

Analyst Upgrades and Downgrades

ARES has been the topic of several analyst reports. Royal Bank of Canada boosted their target price on Ares Management from $100.00 to $105.00 in a report on Tuesday, May 2nd. Wells Fargo & Company downgraded Ares Management from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $99.00 to $93.00 in a report on Monday. Bank of America dropped their target price on Ares Management from $104.00 to $103.00 and set a “buy” rating on the stock in a report on Wednesday, April 5th. TheStreet raised Ares Management from a “c+” rating to a “b-” rating in a report on Thursday, April 13th. Finally, Barclays boosted their price target on Ares Management from $98.00 to $108.00 in a research note on Monday, May 1st. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $97.56.

Ares Management Stock Performance

Ares Management stock traded down $0.05 during mid-day trading on Monday, reaching $92.17. 498,388 shares of the stock traded hands, compared to its average volume of 1,020,480. The stock has a market capitalization of $27.87 billion, a PE ratio of 83.76, a price-to-earnings-growth ratio of 0.97 and a beta of 1.32. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.00 and a quick ratio of 1.00. Ares Management Co. has a 12-month low of $53.15 and a 12-month high of $92.75. The business’s 50-day moving average is $84.24 and its 200-day moving average is $79.57.

Ares Management (NYSE:ARES – Get Rating) last posted its quarterly earnings data on Friday, April 28th. The asset manager reported $0.71 EPS for the quarter, missing analysts’ consensus estimates of $0.82 by ($0.11). The firm had revenue of $813.36 million for the quarter, compared to analysts’ expectations of $694.04 million. Ares Management had a net margin of 6.84% and a return on equity of 16.79%. During the same quarter last year, the company posted $0.65 EPS. As a group, sell-side analysts predict that Ares Management Co. will post 3.6 EPS for the current fiscal year.

Ares Management Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 30th. Shareholders of record on Friday, June 16th will be given a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a yield of 3.34%. The ex-dividend date of this dividend is Thursday, June 15th. Ares Management’s payout ratio is 280.00%.

Ares Management Company Profile

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Ares Management Corp. is engaged in providing investment management and consultancy services. It operates through the following segments: Credit Group, Private Equity Group and Real Estate Group. The Credit Group segment offers credit strategies across the liquid and illiquid spectrum, including syndicated bank loans, high yield bonds, credit opportunities, special situations, asset-backed investments and U.S.

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Institutional Ownership by Quarter for Ares Management (NYSE:ARES)

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