Mitsubishi UFJ Asset Management Co. Ltd. Has $32.09 Million Stock Holdings in Ares Management Corporation $ARES

Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of Ares Management Corporation (NYSE:ARES) by 13.9% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 200,722 shares of the asset manager’s stock after buying an additional 24,502 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Ares Management were worth $32,093,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of ARES. Nemes Rush Group LLC raised its position in Ares Management by 3.1% in the 2nd 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 during the last quarter. New York Life Investment Management LLC grew its holdings in shares of Ares Management by 2.0% during the second quarter. New York Life Investment Management LLC now owns 3,083 shares of the asset manager’s stock worth $534,000 after purchasing an additional 59 shares during the last quarter. First Horizon Advisors Inc. increased its stake in shares of Ares Management by 10.3% in the second 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 holdings in shares of Ares Management by 4.0% in the second quarter. Kingsview Wealth Management LLC now owns 1,625 shares of the asset manager’s stock valued at $281,000 after buying an additional 63 shares during the last quarter. Finally, Secure Asset Management LLC lifted its position 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 in the last quarter. 50.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ARES has been the topic of a number of research reports. Oppenheimer reduced their target price on shares of Ares Management from $224.00 to $215.00 and set an “outperform” rating on the stock in a research report on Friday, February 6th. UBS Group set a $148.00 price objective on Ares Management in a report on Friday, February 20th. Raymond James Financial upgraded Ares Management from a “market perform” rating to a “strong-buy” rating and set a $157.00 price objective on the stock in a research report on Monday, February 9th. Weiss Ratings reissued a “hold (c)” rating on shares of Ares Management in a research note on Monday, December 29th. Finally, Deutsche Bank Aktiengesellschaft raised Ares Management from a “hold” rating to a “buy” rating and cut their price target for the company from $182.00 to $155.00 in a research note on Friday, February 6th. One equities 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 stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $182.67.

Insider Transactions at Ares Management

In other Ares Management news, Director Judy D. Olian acquired 480 shares of the business’s stock in a transaction dated Friday, February 20th. The shares were acquired at an average price of $124.43 per share, for a total transaction of $59,726.40. Following the acquisition, the director directly owned 29,734 shares of the company’s stock, valued at approximately $3,699,801.62. This trade represents a 1.64% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Ashish Bhutani bought 10,000 shares of the stock in a transaction that occurred 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 completion of the purchase, the director owned 34,071 shares in the company, valued at $4,313,729.31. This represents a 41.54% increase in their position. The SEC filing for this purchase provides additional information. 36.86% of the stock is currently owned by insiders.

Ares Management Stock Down 5.2%

Shares of NYSE:ARES opened at $111.88 on Monday. The company has a 50 day moving average price of $150.67 and a two-hundred day moving average price of $158.77. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.22 and a current ratio of 1.22. The company has a market capitalization of $36.57 billion, a PE ratio of 66.20, a PEG ratio of 0.71 and a beta of 1.52. Ares Management Corporation has a 52 week low of $108.67 and a 52 week high of $195.26.

Ares Management (NYSE:ARES) last announced its quarterly earnings results on Thursday, February 5th. The asset manager reported $1.45 earnings per share for the quarter, missing analysts’ consensus estimates of $1.71 by ($0.26). Ares Management had a return on equity of 19.04% and a net margin of 9.41%.The firm had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.38 billion. During the same period in the prior year, the business earned $0.55 earnings per share. Analysts forecast that Ares Management Corporation will post 5.28 earnings per share for the current year.

Ares Management Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 17th will be paid a $1.35 dividend. The ex-dividend date of this dividend is Tuesday, March 17th. This is a positive change from Ares Management’s previous quarterly dividend of $0.84. This represents a $5.40 dividend on an annualized basis and a yield of 4.8%. Ares Management’s payout ratio is presently 319.53%.

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.