Concurrent Investment Advisors LLC Purchases 2,956 Shares of Ares Management Corporation $ARES

Concurrent Investment Advisors LLC grew its holdings in Ares Management Corporation (NYSE:ARES) by 55.5% during the third quarter, Holdings Channel reports. The firm owned 8,281 shares of the asset manager’s stock after acquiring an additional 2,956 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Ares Management were worth $1,324,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of Ares Management by 9.1% during the 2nd quarter. Vanguard Group Inc. now owns 20,936,367 shares of the asset manager’s stock worth $3,626,179,000 after purchasing an additional 1,746,376 shares in the last quarter. Geode Capital Management LLC raised its position in Ares Management by 7.6% in the 2nd quarter. Geode Capital Management LLC now owns 3,454,083 shares of the asset manager’s stock valued at $596,280,000 after buying an additional 244,286 shares during the last quarter. Norges Bank purchased a new stake in shares of Ares Management in the second quarter valued at about $328,910,000. Winslow Capital Management LLC bought a new position in shares of Ares Management during the 2nd quarter worth approximately $161,774,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Ares Management by 8.3% during the second quarter. Charles Schwab Investment Management Inc. now owns 796,472 shares of the asset manager’s stock worth $137,949,000 after acquiring an additional 61,317 shares during the period. 50.03% of the stock is owned by institutional investors.

Insider Transactions at Ares Management

In related news, CEO Michael J. Arougheti sold 186,197 shares of the company’s stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $152.75, for a total value of $28,441,591.75. Following the transaction, the chief executive officer directly owned 290,997 shares of the company’s stock, valued at approximately $44,449,791.75. This represents a 39.02% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Over the last quarter, insiders sold 590,000 shares of company stock valued at $90,653,808. Corporate insiders own 36.86% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on ARES. Cowen reissued a “buy” rating on shares of Ares Management in a research report on Wednesday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Ares Management in a report on Monday, December 29th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $215.00 price objective on shares of Ares Management in a research report on Monday, September 29th. Citigroup reaffirmed a “market outperform” rating on shares of Ares Management in a research note on Tuesday, October 21st. Finally, TD Cowen lifted their price target on Ares Management from $197.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday. Thirteen analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $192.14.

Ares Management Price Performance

Shares of Ares Management stock opened at $170.00 on Friday. The business has a 50 day moving average of $163.30 and a 200 day moving average of $168.39. Ares Management Corporation has a 52 week low of $110.63 and a 52 week high of $200.49. The company has a quick ratio of 0.22, a current ratio of 0.22 and a debt-to-equity ratio of 0.62. The company has a market cap of $55.57 billion, a PE ratio of 72.96, a P/E/G ratio of 0.98 and a beta of 1.53.

Ares Management (NYSE:ARES) last released its quarterly earnings results on Friday, October 31st. The asset manager reported $1.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.14 by $0.05. The company had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.03 billion. Ares Management had a net margin of 11.72% and a return on equity of 16.33%. During the same period in the prior year, the firm earned $0.55 earnings per share. As a group, equities research analysts forecast that Ares Management Corporation will post 5.28 earnings per share for the current year.

Ares Management Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 17th were issued a $0.8438 dividend. The ex-dividend date of this dividend was Wednesday, December 17th. This represents a $3.38 annualized dividend and a yield of 2.0%. Ares Management’s payout ratio is 192.27%.

Ares Management Company 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.