Louisiana State Employees Retirement System Invests $1.15 Million in Ares Management Corporation $ARES

Louisiana State Employees Retirement System bought a new stake in shares of Ares Management Corporation (NYSE:ARES) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 10,500 shares of the asset manager’s stock, valued at approximately $1,146,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Osbon Capital Management LLC purchased a new stake in Ares Management during the fourth quarter valued at $32,000. Atlantic Edge Private Wealth Management LLC purchased a new position in shares of Ares Management in the 4th quarter worth $42,000. Elyxium Wealth LLC bought a new stake in shares of Ares Management in the 4th quarter worth about $42,000. Summit Securities Group LLC bought a new stake in shares of Ares Management in the 4th quarter worth about $49,000. Finally, AlphaCentric Advisors LLC purchased a new stake in shares of Ares Management during the 4th quarter valued at about $62,000. 50.03% of the stock is owned by hedge funds and other institutional investors.

Ares Management Price Performance

Ares Management stock opened at $116.72 on Friday. The firm has a 50-day moving average price of $122.94 and a 200-day moving average price of $130.41. The firm has a market capitalization of $38.50 billion, a PE ratio of 54.29, a price-to-earnings-growth ratio of 1.03 and a beta of 1.51. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.96. Ares Management Corporation has a 12-month low of $95.80 and a 12-month high of $195.26.

Ares Management (NYSE:ARES) last issued its quarterly earnings results on Friday, May 1st. The asset manager reported $1.24 EPS for the quarter, missing the consensus estimate of $1.32 by ($0.08). The firm had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.28 billion. Ares Management had a net margin of 10.54% and a return on equity of 22.14%. During the same quarter in the previous year, the company posted $1.09 earnings per share. As a group, equities research analysts forecast that Ares Management Corporation will post 6.04 EPS for the current year.

Ares Management Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th were given a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 4.6%. The ex-dividend date was Tuesday, June 16th. Ares Management’s payout ratio is 251.16%.

Analyst Upgrades and Downgrades

ARES has been the subject of a number of analyst reports. Barclays increased their price target on shares of Ares Management from $127.00 to $140.00 and gave the company an “overweight” rating in a report on Monday, May 4th. Oppenheimer reissued an “outperform” rating and set a $146.00 price objective (down from $147.00) on shares of Ares Management in a research note on Monday, May 4th. The Goldman Sachs Group decreased their price objective on Ares Management from $165.00 to $131.00 and set a “buy” rating on the stock in a research report on Tuesday, April 7th. Morgan Stanley lowered their price objective on Ares Management from $178.00 to $163.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 21st. Finally, TD Cowen lifted their target price on Ares Management from $144.00 to $153.00 and gave the stock a “buy” rating in a report on Tuesday, June 23rd. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $163.12.

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.