EFG Asset Management North America Corp. Has $6.81 Million Stock Holdings in Ares Management Corporation $ARES

EFG Asset Management North America Corp. grew its stake in shares of Ares Management Corporation (NYSE:ARES) by 10.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 42,581 shares of the asset manager’s stock after purchasing an additional 4,181 shares during the period. Ares Management comprises about 0.9% of EFG Asset Management North America Corp.’s holdings, making the stock its 22nd biggest holding. EFG Asset Management North America Corp.’s holdings in Ares Management were worth $6,806,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of ARES. Exchange Traded Concepts LLC lifted its stake in Ares Management by 100.0% during the third quarter. Exchange Traded Concepts LLC now owns 190 shares of the asset manager’s stock valued at $30,000 after buying an additional 95 shares in the last quarter. Elevation Point Wealth Partners LLC purchased a new position in shares of Ares Management in the second quarter worth approximately $35,000. Ameritas Advisory Services LLC acquired a new stake in shares of Ares Management during the second quarter valued at approximately $43,000. First Horizon Corp purchased a new stake in shares of Ares Management in the 3rd quarter valued at approximately $51,000. Finally, Covestor Ltd boosted its stake in Ares Management by 182.6% in the 3rd quarter. Covestor Ltd now owns 421 shares of the asset manager’s stock worth $67,000 after purchasing an additional 272 shares during the period. Hedge funds and other institutional investors own 50.03% of the company’s stock.

Analysts Set New Price Targets

ARES has been the topic of several recent analyst reports. UBS Group cut their target price on shares of Ares Management from $201.00 to $198.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 13th. Citigroup reissued a “market outperform” rating on shares of Ares Management in a research report on Tuesday, October 21st. Morgan Stanley reduced their price objective on Ares Management from $178.00 to $175.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 21st. TD Cowen reaffirmed a “buy” rating on shares of Ares Management in a research note on Wednesday, January 14th. Finally, Barclays increased their price target on shares of Ares Management from $218.00 to $222.00 and gave the stock an “overweight” rating in a research report on Friday, January 9th. Twelve equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $194.57.

Ares Management Trading Down 3.9%

NYSE:ARES opened at $149.86 on Tuesday. The company has a quick ratio of 0.22, a current ratio of 0.22 and a debt-to-equity ratio of 0.62. The company’s 50 day moving average is $164.59 and its 200-day moving average is $167.57. The firm has a market cap of $48.98 billion, a price-to-earnings ratio of 64.32, a P/E/G ratio of 0.90 and a beta of 1.53. Ares Management Corporation has a 12 month low of $110.63 and a 12 month high of $200.49.

Ares Management (NYSE:ARES) last posted its earnings results on Friday, October 31st. The asset manager reported $1.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.14 by $0.05. The business had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.03 billion. Ares Management had a net margin of 11.72% and a return on equity of 16.33%. During the same period last year, the business posted $0.55 EPS. Equities analysts anticipate that Ares Management Corporation will post 5.28 EPS for the current year.

Ares Management Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Wednesday, December 17th were given a dividend of $0.8438 per share. This represents a $3.38 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend was Wednesday, December 17th. Ares Management’s payout ratio is currently 192.27%.

Insiders Place Their Bets

In other Ares Management news, CEO Michael J. Arougheti sold 56,257 shares of the firm’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 value of $8,846,975.82. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In the last ninety days, insiders sold 590,000 shares of company stock worth $90,653,808. 0.52% of the stock is owned by corporate insiders.

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.