Stonnington Group LLC Takes Position in Ares Management Co. (NYSE:ARES)

Posted by Defense World Staff on Jun 26th, 2023

Stonnington Group LLC purchased a new position in Ares Management Co. (NYSE:ARES – Get Rating) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 6,500 shares of the asset manager’s stock, valued at approximately $550,000.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Personalized Indexing Management LLC increased its position in Ares Management by 5.2% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 7,581 shares of the asset manager’s stock valued at $519,000 after buying an additional 377 shares in the last quarter. Parnassus Investments LLC bought a new position in shares of Ares Management during the fourth quarter valued at $240,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Ares Management in the 4th quarter worth about $2,414,000. Amalgamated Bank boosted its stake in Ares Management by 1.6% in the 4th quarter. Amalgamated Bank now owns 17,140 shares of the asset manager’s stock worth $1,173,000 after purchasing an additional 265 shares in the last quarter. Finally, Fulton Bank N.A. grew its position in Ares Management by 14.7% during the 4th quarter. Fulton Bank N.A. now owns 5,166 shares of the asset manager’s stock valued at $354,000 after purchasing an additional 664 shares during the last quarter. Institutional investors own 48.66% of the company’s stock.

Insider Transactions at Ares Management

In other news, major shareholder Ares Management Llc bought 200,000 shares of Ares Management stock in a transaction that occurred on Friday, April 14th. The stock was bought at an average cost of $21.44 per share, with a total value of $4,288,000.00. Following the acquisition, the insider now owns 37,294,654 shares of the company’s stock, valued at approximately $799,597,381.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, major shareholder Ares Management Llc bought 200,000 shares of the company’s stock in a transaction that occurred on Friday, April 14th. The stock was bought at an average price of $21.44 per share, with a total value of $4,288,000.00. Following the acquisition, the insider now owns 37,294,654 shares of the company’s stock, valued at approximately $799,597,381.76. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Antoinette Cook Bush purchased 1,234 shares of the business’s stock in a transaction on Friday, May 12th. The stock was acquired at an average price of $81.69 per share, with a total value of $100,805.46. Following the purchase, the director now directly owns 18,369 shares in the company, valued at approximately $1,500,563.61. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 990,756 shares of company stock valued at $21,263,324 and have sold 12,500,076 shares valued at $350,203,824. Corporate insiders own 47.34% of the company’s stock.

Ares Management Stock Performance

ARES opened at $90.41 on Monday. The company’s 50 day moving average is $86.71 and its 200 day moving average is $80.81. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.61. The company has a market cap of $27.34 billion, a price-to-earnings ratio of 82.19, a PEG ratio of 0.95 and a beta of 1.32. Ares Management Co. has a 12-month low of $55.45 and a 12-month high of $95.42.

Ares Management (NYSE:ARES – Get Rating) last issued its quarterly earnings results on Friday, April 28th. The asset manager reported $0.71 earnings per share for the quarter, missing the consensus estimate of $0.82 by ($0.11). The business had revenue of $813.36 million for the quarter, compared to analysts’ expectations of $694.04 million. Ares Management had a return on equity of 16.79% and a net margin of 6.84%. During the same quarter in the prior year, the business earned $0.65 EPS. On average, equities research analysts predict that Ares Management Co. will post 3.6 EPS for the current year.

Ares Management Dividend Announcement

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 3.41%. The ex-dividend date is Thursday, June 15th. Ares Management’s payout ratio is 280.00%.

Analyst Ratings Changes

Several research analysts have recently issued reports on ARES shares. StockNews.com started coverage on shares of Ares Management in a research note on Thursday, May 18th. They issued a “sell” rating on the stock. Bank of America cut their target price on Ares Management from $104.00 to $103.00 and set a “buy” rating on the stock in a research note on Wednesday, April 5th. Wells Fargo & Company cut Ares Management from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $99.00 to $93.00 in a research note on Monday, June 12th. Royal Bank of Canada lifted their price objective on Ares Management from $100.00 to $105.00 in a report on Tuesday, May 2nd. Finally, TheStreet upgraded shares of Ares Management from a “c+” rating to a “b-” rating in a research note on Thursday, April 13th. One analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Ares Management currently has an average rating of “Moderate Buy” and an average price target of $97.56.

Ares Management Profile

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Ares Management Corporation operates as an alternative asset manager in the United States, Europe, and Asia. The company's Tradable Credit Group segment manages various types of investment funds, such as commingled and separately managed accounts for institutional investors, and publicly traded vehicles and sub-advised funds for retail investors in the tradable and non-investment grade corporate credit markets.