Ares Management Corporation $ARES Shares Sold by American Century Companies Inc.

American Century Companies Inc. cut its stake in shares of Ares Management Corporation (NYSE:ARES) by 14.6% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 1,995,675 shares of the asset manager’s stock after selling 341,407 shares during the period. American Century Companies Inc.’s holdings in Ares Management were worth $319,089,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Exchange Traded Concepts LLC lifted its stake in Ares Management by 100.0% in the third quarter. Exchange Traded Concepts LLC now owns 190 shares of the asset manager’s stock worth $30,000 after acquiring an additional 95 shares during the last quarter. Elevation Point Wealth Partners LLC purchased a new stake in shares of Ares Management in the 2nd quarter valued at approximately $35,000. Redmont Wealth Advisors LLC acquired a new stake in shares of Ares Management in the 3rd quarter valued at $40,000. Washington Trust Advisors Inc. purchased a new stake in shares of Ares Management during the 3rd quarter worth $50,000. Finally, First Horizon Corp purchased a new stake in shares of Ares Management during the 3rd quarter worth $51,000. 50.03% of the stock is currently owned by hedge funds and other institutional investors.

Ares Management Trading Down 5.2%

NYSE:ARES opened at $111.88 on Friday. Ares Management Corporation has a 12-month low of $108.67 and a 12-month high of $195.26. The company has a current ratio of 0.22, a quick ratio of 0.22 and a debt-to-equity ratio of 0.62. The stock’s 50 day simple moving average is $150.67 and its 200-day simple moving average is $159.23. The firm has a market cap of $36.57 billion, a P/E ratio of 66.20, a PEG ratio of 0.74 and a beta of 1.52.

Ares Management (NYSE:ARES) last issued its quarterly earnings results on Thursday, February 5th. The asset manager reported $1.45 earnings per share for the quarter, missing the consensus estimate of $1.71 by ($0.26). The company had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.38 billion. Ares Management had a return on equity of 19.26% and a net margin of 9.41%.During the same period in the prior year, the business earned $0.55 earnings per share. Equities analysts anticipate that Ares Management Corporation will post 5.28 EPS for the current year.

Ares Management Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 17th will be issued a $1.35 dividend. The ex-dividend date of this dividend is Tuesday, March 17th. This is a positive change from Ares Management’s previous quarterly dividend of $0.84. This represents a $5.40 annualized dividend and a dividend yield of 4.8%. Ares Management’s payout ratio is presently 265.09%.

Insider Activity

In other Ares Management news, Director Ashish Bhutani acquired 10,000 shares of the stock in a transaction on Friday, February 6th. The shares were bought at an average price of $126.61 per share, with a total value of $1,266,100.00. Following the acquisition, the director owned 34,071 shares of the company’s stock, valued at $4,313,729.31. This trade represents a 41.54% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Michael J. Arougheti sold 56,257 shares of the firm’s stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $157.26, for a total value of $8,846,975.82. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 36.86% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Ares Management in a research report on Monday, December 29th. UBS Group set a $148.00 target price on Ares Management in a research note on Friday, February 20th. Keefe, Bruyette & Woods upped their price target on Ares Management from $188.00 to $189.00 and gave the company an “outperform” rating in a report on Tuesday, November 4th. TD Cowen reissued a “buy” rating on shares of Ares Management in a report on Wednesday, January 14th. Finally, Royal Bank Of Canada reduced their price objective on shares of Ares Management from $180.00 to $173.00 and set an “outperform” rating for the company in a research report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $182.67.

Ares Management 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.