Arizona State Retirement System Buys 4,174 Shares of Ares Management Corporation $ARES

Arizona State Retirement System grew its position in Ares Management Corporation (NYSE:ARES) by 7.0% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 63,753 shares of the asset manager’s stock after buying an additional 4,174 shares during the period. Arizona State Retirement System’s holdings in Ares Management were worth $10,193,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. Exchange Traded Concepts LLC increased its holdings in Ares Management by 100.0% during the 3rd quarter. Exchange Traded Concepts LLC now owns 190 shares of the asset manager’s stock worth $30,000 after purchasing an additional 95 shares in the last quarter. Elevation Point Wealth Partners LLC acquired a new stake in Ares Management in the second quarter valued at $35,000. Ameritas Advisory Services LLC bought a new position in shares of Ares Management in the 2nd quarter valued at about $43,000. First Horizon Corp bought a new position in shares of Ares Management in the 3rd quarter valued at about $51,000. Finally, Covestor Ltd increased its stake in shares of Ares Management by 182.6% during the 3rd quarter. Covestor Ltd now owns 421 shares of the asset manager’s stock worth $67,000 after purchasing an additional 272 shares during the last quarter. 50.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Morgan Stanley set a $178.00 target price on shares of Ares Management in a research note on Tuesday. Keefe, Bruyette & Woods lifted their target price on Ares Management from $188.00 to $189.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 4th. Wolfe Research set a $210.00 price target on Ares Management and gave the company an “outperform” rating in a research note on Wednesday, January 7th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Ares Management in a report on Monday, December 29th. Finally, TD Cowen reiterated a “buy” rating on shares of Ares Management in a report on Wednesday, January 14th. Twelve equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, Ares Management currently has a consensus rating of “Moderate Buy” and a consensus target price of $194.79.

Insider Transactions at Ares Management

In other Ares Management news, CEO Michael J. Arougheti sold 56,257 shares of the stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $157.26, for a total transaction of $8,846,975.82. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last ninety days, insiders have sold 590,000 shares of company stock valued at $90,653,808. Insiders own 36.86% of the company’s stock.

Ares Management Stock Performance

NYSE:ARES opened at $149.73 on Friday. The stock has a market cap of $48.94 billion, a P/E ratio of 64.26, a PEG ratio of 0.87 and a beta of 1.53. The stock has a 50 day simple moving average of $165.01 and a 200 day simple moving average of $166.88. The company has a current ratio of 0.22, a quick ratio of 0.22 and a debt-to-equity ratio of 0.62. Ares Management Corporation has a 1-year low of $110.63 and a 1-year high of $200.49.

Ares Management (NYSE:ARES) last issued its quarterly earnings data on Friday, October 31st. The asset manager reported $1.19 EPS for the quarter, beating analysts’ consensus estimates of $1.14 by $0.05. Ares Management had a return on equity of 16.33% and a net margin of 11.72%.The firm had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same period in the prior year, the firm posted $0.55 EPS. Research analysts anticipate that Ares Management Corporation will post 5.28 earnings per share for the current year.

Ares Management Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 17th were paid a $0.8438 dividend. The ex-dividend date was Wednesday, December 17th. This represents a $3.38 annualized dividend and a yield of 2.3%. Ares Management’s payout ratio is 192.27%.

About Ares Management

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.