Skandinaviska Enskilda Banken AB publ Buys 4,079 Shares of Ares Management Corporation $ARES

Skandinaviska Enskilda Banken AB publ increased its position in shares of Ares Management Corporation (NYSE:ARES) by 9.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 45,566 shares of the asset manager’s stock after acquiring an additional 4,079 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Ares Management were worth $7,286,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the company. Nemes Rush Group LLC increased its stake in Ares Management by 3.1% in the second quarter. Nemes Rush Group LLC now owns 1,745 shares of the asset manager’s stock valued at $302,000 after purchasing an additional 52 shares in the last quarter. New York Life Investment Management LLC grew its holdings in shares of Ares Management by 2.0% in the 2nd quarter. New York Life Investment Management LLC now owns 3,083 shares of the asset manager’s stock valued at $534,000 after buying an additional 59 shares during the period. First Horizon Advisors Inc. increased its position in shares of Ares Management by 10.3% in the 2nd quarter. First Horizon Advisors Inc. now owns 630 shares of the asset manager’s stock valued at $109,000 after buying an additional 59 shares in the last quarter. Kingsview Wealth Management LLC raised its stake in Ares Management by 4.0% during the 2nd quarter. Kingsview Wealth Management LLC now owns 1,625 shares of the asset manager’s stock worth $281,000 after buying an additional 63 shares during the period. Finally, Secure Asset Management LLC raised its stake in Ares Management by 0.8% during the 3rd quarter. Secure Asset Management LLC now owns 8,329 shares of the asset manager’s stock worth $1,284,000 after buying an additional 70 shares during the period. Institutional investors and hedge funds own 50.03% of the company’s stock.

Insider Activity at Ares Management

In related news, CEO Michael J. Arougheti sold 56,257 shares of the business’s stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $157.26, for a total transaction of $8,846,975.82. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Ashish Bhutani purchased 10,000 shares of the business’s stock in a transaction on Friday, February 6th. The shares were acquired at an average cost of $126.61 per share, with a total value of $1,266,100.00. Following the acquisition, the director directly owned 34,071 shares in the company, valued at approximately $4,313,729.31. The trade was a 41.54% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders sold 590,000 shares of company stock worth $90,653,808 in the last 90 days. Corporate insiders own 36.86% of the company’s stock.

Ares Management Stock Performance

ARES opened at $130.02 on Friday. The business’s 50-day simple moving average is $157.02 and its 200 day simple moving average is $162.18. Ares Management Corporation has a 52-week low of $110.63 and a 52-week high of $195.26. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.22 and a current ratio of 0.22. The firm has a market capitalization of $42.50 billion, a PE ratio of 76.93, a PEG ratio of 0.81 and a beta of 1.52.

Ares Management (NYSE:ARES) last released its quarterly earnings data on Thursday, February 5th. The asset manager reported $1.45 EPS for the quarter, missing the consensus estimate of $1.71 by ($0.26). Ares Management had a net margin of 9.41% and a return on equity of 19.26%. The company had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.38 billion. During the same period in the previous year, the company posted $0.55 EPS. As a group, sell-side analysts expect that Ares Management Corporation will post 5.28 earnings per share for the current fiscal year.

Ares Management Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 17th will be given a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 4.2%. This is a boost from Ares Management’s previous quarterly dividend of $0.84. The ex-dividend date of this dividend is Tuesday, March 17th. Ares Management’s dividend payout ratio (DPR) is presently 265.09%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on ARES shares. Wolfe Research set a $210.00 price target on Ares Management and gave the stock an “outperform” rating in a report on Wednesday, January 7th. Keefe, Bruyette & Woods lifted their price target on shares of Ares Management from $188.00 to $189.00 and gave the company an “outperform” rating in a research note on Tuesday, November 4th. Oppenheimer reduced their price target on shares of Ares Management from $224.00 to $215.00 and set an “outperform” rating for the company in a report on Friday, February 6th. UBS Group dropped their price objective on shares of Ares Management from $201.00 to $198.00 and set a “neutral” rating on the stock in a report on Tuesday, January 13th. Finally, Deutsche Bank Aktiengesellschaft raised Ares Management from a “hold” rating to a “buy” rating and dropped their price target for the company from $182.00 to $155.00 in a research note on Friday, February 6th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, Ares Management has an average rating of “Moderate Buy” and an average price target of $186.47.

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.