King Luther Capital Management Corp Purchases 13,306 Shares of Ares Management Corporation $ARES

King Luther Capital Management Corp boosted its position in shares of Ares Management Corporation (NYSE:ARES) by 7.7% in the 4th quarter, HoldingsChannel.com reports. The firm owned 186,957 shares of the asset manager’s stock after buying an additional 13,306 shares during the quarter. King Luther Capital Management Corp’s holdings in Ares Management were worth $30,218,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Ares Management by 20.2% during the 4th quarter. Vanguard Group Inc. now owns 26,050,425 shares of the asset manager’s stock worth $4,210,530,000 after purchasing an additional 4,373,955 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in Ares Management by 26.3% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 5,705,599 shares of the asset manager’s stock worth $922,196,000 after purchasing an additional 1,187,174 shares during the last quarter. Capital International Investors grew its position in shares of Ares Management by 0.4% during the 3rd quarter. Capital International Investors now owns 4,243,194 shares of the asset manager’s stock worth $678,448,000 after buying an additional 15,913 shares during the period. Principal Financial Group Inc. grew its position in shares of Ares Management by 8.6% during the 4th quarter. Principal Financial Group Inc. now owns 3,839,693 shares of the asset manager’s stock worth $620,616,000 after buying an additional 304,920 shares during the period. Finally, LRI Investments LLC grew its position in shares of Ares Management by 10.2% during the 3rd quarter. LRI Investments LLC now owns 2,586,253 shares of the asset manager’s stock worth $413,516,000 after buying an additional 238,531 shares during the period. 50.03% of the stock is owned by institutional investors.

Ares Management Price Performance

Ares Management stock opened at $125.53 on Wednesday. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.96. The business has a 50-day moving average of $114.05 and a 200-day moving average of $136.64. Ares Management Corporation has a 1 year low of $95.80 and a 1 year high of $195.26. The firm has a market capitalization of $41.41 billion, a P/E ratio of 58.39, a PEG ratio of 1.09 and a beta of 1.50.

Ares Management (NYSE:ARES) last issued its quarterly earnings data on Friday, May 1st. The asset manager reported $1.24 earnings per share (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 analyst estimates of $1.28 billion. During the same quarter in the prior year, the firm posted $1.09 earnings per share. On average, equities analysts anticipate that Ares Management Corporation will post 6.06 EPS for the current year.

Ares Management Announces Dividend

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

Analyst Upgrades and Downgrades

ARES has been the subject of several analyst reports. Oppenheimer restated an “outperform” rating and set a $146.00 target price (down from $147.00) on shares of Ares Management in a research report on Monday, May 4th. TD Cowen decreased their target price 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. Barclays boosted their target price on Ares Management from $127.00 to $140.00 and gave the stock an “overweight” rating in a research report on Monday, May 4th. Deutsche Bank Aktiengesellschaft upgraded Ares Management from a “hold” rating to a “buy” rating and decreased their target price for the stock from $182.00 to $155.00 in a research report on Friday, February 6th. Finally, JPMorgan Chase & Co. decreased their target price on Ares Management from $188.00 to $144.00 and set an “overweight” rating for the company in a research report on Tuesday, April 28th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, Ares Management has an average rating of “Moderate Buy” and an average 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.