Allstate Corp Raises Position in Ares Management Corporation $ARES

Allstate Corp grew its position in Ares Management Corporation (NYSE:ARES) by 94.0% in the 4th quarter, Holdings Channel reports. The institutional investor owned 15,883 shares of the asset manager’s stock after purchasing an additional 7,694 shares during the quarter. Allstate Corp’s holdings in Ares Management were worth $2,567,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Redmont Wealth Advisors LLC purchased a new position in shares of Ares Management during the third quarter valued at approximately $40,000. Atlantic Edge Private Wealth Management LLC purchased a new stake in Ares Management during the fourth quarter valued at approximately $42,000. Elyxium Wealth LLC purchased a new stake in Ares Management during the fourth quarter valued at approximately $42,000. Washington Trust Advisors Inc. purchased a new stake in Ares Management during the third quarter valued at approximately $50,000. Finally, Leonteq Securities AG purchased a new stake in Ares Management during the fourth quarter valued at approximately $70,000. 50.03% of the stock is owned by hedge funds and other institutional investors.

Ares Management Price Performance

Shares of Ares Management stock opened at $126.75 on Thursday. The stock’s 50-day simple moving average is $114.57 and its 200-day simple moving average is $136.47. Ares Management Corporation has a 52 week low of $95.80 and a 52 week high of $195.26. The company has a market capitalization of $41.81 billion, a price-to-earnings ratio of 58.95, a PEG ratio of 1.10 and a beta of 1.50. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.96.

Ares Management (NYSE:ARES) last announced its quarterly earnings data on Friday, May 1st. The asset manager reported $1.24 EPS for the quarter, missing the consensus estimate of $1.32 by ($0.08). Ares Management had a net margin of 10.54% and a return on equity of 22.14%. The business had revenue of $1.40 billion during the quarter, compared to analysts’ expectations of $1.28 billion. During the same quarter in the previous year, the firm earned $1.09 earnings per share. As a group, analysts expect that Ares Management Corporation will post 6.06 earnings per share for the current fiscal year.

Ares Management Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th will be given a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 4.3%. The ex-dividend date is Tuesday, June 16th. Ares Management’s payout ratio is presently 251.16%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Ares Management in a report on Wednesday, April 29th. Raymond James Financial upgraded Ares Management from a “market perform” rating to a “strong-buy” rating and set a $157.00 price target for the company in a research report on Monday, February 9th. Oppenheimer restated an “outperform” rating and issued a $146.00 price target (down from $147.00) on shares of Ares Management in a research report on Monday, May 4th. TD Cowen reduced their price target on Ares Management from $148.00 to $144.00 and set a “buy” rating for the company in a research report on Monday, May 18th. Finally, The Goldman Sachs Group reduced their price target on Ares Management from $165.00 to $131.00 and set a “buy” rating for the company in a research report on Tuesday, April 7th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, Ares Management currently has an average rating of “Moderate Buy” and a consensus target price of $162.56.

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.