Hamlin Capital Management LLC Increases Holdings in Ares Management Corporation $ARES

Hamlin Capital Management LLC boosted its position in Ares Management Corporation (NYSE:ARES) by 6.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,022,899 shares of the asset manager’s stock after acquiring an additional 63,265 shares during the period. Ares Management accounts for 2.9% of Hamlin Capital Management LLC’s portfolio, making the stock its 18th largest position. Hamlin Capital Management LLC owned 0.31% of Ares Management worth $118,830,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Principal Financial Group Inc. increased its holdings in Ares Management by 4.4% in the first quarter. Principal Financial Group Inc. now owns 4,009,291 shares of the asset manager’s stock valued at $437,417,000 after purchasing an additional 169,598 shares during the last quarter. Vulcan Value Partners LLC increased its stake in shares of Ares Management by 12.5% in the 2nd quarter. Vulcan Value Partners LLC now owns 1,902,580 shares of the asset manager’s stock valued at $211,776,000 after acquiring an additional 211,404 shares during the last quarter. Janus Henderson Group PLC raised its position in shares of Ares Management by 43.8% in the 1st quarter. Janus Henderson Group PLC now owns 1,653,078 shares of the asset manager’s stock valued at $180,343,000 after acquiring an additional 503,688 shares during the period. River Road Asset Management LLC boosted its stake in Ares Management by 40,652.1% during the 4th quarter. River Road Asset Management LLC now owns 807,300 shares of the asset manager’s stock worth $130,484,000 after acquiring an additional 805,319 shares during the last quarter. Finally, Cat Rock Capital Management LP grew its holdings in Ares Management by 12.9% during the second quarter. Cat Rock Capital Management LP now owns 664,000 shares of the asset manager’s stock valued at $73,910,000 after purchasing an additional 75,900 shares during the period. Institutional investors and hedge funds own 50.03% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on ARES. Barclays reduced their price target on shares of Ares Management from $140.00 to $139.00 and set an “overweight” rating on the stock in a research report on Thursday, July 9th. Citigroup reiterated a “market outperform” rating on shares of Ares Management in a report on Monday, August 3rd. Wall Street Zen downgraded Ares Management from a “hold” rating to a “sell” rating in a report on Saturday, July 4th. Oppenheimer raised their price target on Ares Management from $151.00 to $162.00 and gave the stock an “outperform” rating in a research report on Thursday, August 27th. Finally, Citizens Jmp cut their price objective on Ares Management from $190.00 to $160.00 and set a “market outperform” rating on the stock in a report on Thursday, July 9th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $156.00.

Ares Management Stock Down 0.2%

Shares of ARES traded down $0.23 during midday trading on Thursday, hitting $115.52. The stock had a trading volume of 529,997 shares, compared to its average volume of 2,936,242. The firm has a market cap of $38.15 billion, a price-to-earnings ratio of 52.86, a price-to-earnings-growth ratio of 1.05 and a beta of 1.53. The company has a 50 day simple moving average of $132.95 and a two-hundred day simple moving average of $124.08. Ares Management Corporation has a twelve month low of $95.80 and a twelve month high of $181.19. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.26 and a quick ratio of 0.26.

Ares Management (NYSE:ARES) last posted its quarterly earnings data on Friday, July 31st. The asset manager reported $1.29 earnings per share for the quarter, topping the consensus estimate of $1.28 by $0.01. Ares Management had a return on equity of 25.42% and a net margin of 10.63%.The company had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.27 billion. During the same period in the prior year, the firm earned $1.03 earnings per share. Ares Management’s revenue for the quarter was up 5.8% compared to the same quarter last year. On average, analysts anticipate that Ares Management Corporation will post 5.9 EPS for the current year.

Ares Management Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 16th were paid a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 4.7%. The ex-dividend date of this dividend was Wednesday, September 16th. Ares Management’s dividend payout ratio (DPR) is currently 247.71%.

Ares Management Company Profile

Ares Management Corporation (NYSE: ARES) is a global alternative investment manager that provides investment solutions across credit, private equity, real assets and secondaries. The company serves institutional investors, including pension plans, insurance companies, endowments and foundations, as well as wealth-management clients and other investors.

Its investment businesses include direct lending and other private credit strategies, liquid credit, corporate private equity, real estate, infrastructure and secondary investments.