Ares Management Llc Buys 100,000 Shares of Ares Management Co. (NYSE:ARES) Stock

Posted by Defense World Staff on Sep 21st, 2023

Ares Management Co. (NYSE:ARES – Get Free Report) major shareholder Ares Management Llc bought 100,000 shares of the stock in a transaction on Friday, September 15th. The shares were bought at an average price of $14.79 per share, for a total transaction of $1,479,000.00. Following the purchase, the insider now directly owns 38,612,895 shares in the company, valued at approximately $571,084,717.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Ares Management Llc also recently made the following trade(s):

On Monday, September 11th, Ares Management Llc bought 150,000 shares of Ares Management stock. The shares were bought at an average price of $14.52 per share, for a total transaction of $2,178,000.00.
On Monday, August 28th, Ares Management Llc bought 7,397 shares of Ares Management stock. The shares were bought at an average price of $14.94 per share, for a total transaction of $110,511.18.
On Thursday, August 24th, Ares Management Llc acquired 37,557 shares of Ares Management stock. The stock was acquired at an average cost of $15.27 per share, for a total transaction of $573,495.39.
On Tuesday, August 22nd, Ares Management Llc acquired 179,168 shares of Ares Management stock. The stock was acquired at an average cost of $15.17 per share, for a total transaction of $2,717,978.56.
On Monday, July 3rd, Ares Management Llc sold 6,885,415 shares of Ares Management stock. The stock was sold at an average price of $16.79, for a total transaction of $115,606,117.85.

Ares Management Trading Up 1.6 %

Ares Management stock opened at $106.27 on Thursday. The stock has a market cap of $32.36 billion, a P/E ratio of 65.20, a PEG ratio of 1.06 and a beta of 1.32. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.97 and a quick ratio of 0.97. Ares Management Co. has a 1 year low of $58.60 and a 1 year high of $107.37. The firm’s 50 day moving average price is $101.56 and its 200-day moving average price is $91.18.

Ares Management (NYSE:ARES – Get Free Report) last posted its earnings results on Tuesday, August 1st. The asset manager reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.05. The firm had revenue of $1.09 billion during the quarter, compared to analyst estimates of $725.82 million. Ares Management had a net margin of 8.79% and a return on equity of 17.56%. During the same period last year, the firm posted $0.74 earnings per share. On average, equities analysts predict that Ares Management Co. will post 3.69 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 Friday, September 29th. Shareholders of record on Friday, September 15th will be paid a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a yield of 2.90%. The ex-dividend date of this dividend is Thursday, September 14th. Ares Management’s payout ratio is 188.96%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on ARES shares. Morgan Stanley raised their price objective on shares of Ares Management from $100.00 to $105.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 2nd. Wells Fargo & Company raised their price objective on shares of Ares Management from $97.00 to $107.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 2nd. The Goldman Sachs Group raised their target price on shares of Ares Management from $90.00 to $100.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 18th. Barclays raised their target price on shares of Ares Management from $117.00 to $126.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 2nd. Finally, Royal Bank of Canada raised their target price on shares of Ares Management from $110.00 to $120.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 2nd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $105.00.

View Our Latest Report on ARES

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Personalized Indexing Management LLC boosted its stake in Ares Management by 5.2% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 7,581 shares of the asset manager’s stock worth $519,000 after buying an additional 377 shares during the period. Guggenheim Capital LLC boosted its stake in shares of Ares Management by 12.8% during the first quarter. Guggenheim Capital LLC now owns 10,987 shares of the asset manager’s stock valued at $917,000 after purchasing an additional 1,245 shares during the period. Avantax Advisory Services Inc. boosted its stake in shares of Ares Management by 5.3% during the first quarter. Avantax Advisory Services Inc. now owns 3,194 shares of the asset manager’s stock valued at $267,000 after purchasing an additional 162 shares during the period. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Ares Management during the fourth quarter valued at $2,414,000. Finally, Arizona State Retirement System boosted its stake in shares of Ares Management by 3.6% during the first quarter. Arizona State Retirement System now owns 45,376 shares of the asset manager’s stock valued at $3,786,000 after purchasing an additional 1,565 shares during the period. 50.03% of the stock is owned by hedge funds and other institutional investors.

About Ares Management

(Get Free Report)

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.