Ares Management Corporation $ARES Stock Holdings Boosted by Curated Wealth Partners LLC

Curated Wealth Partners LLC lifted its position in shares of Ares Management Corporation (NYSE:ARES) by 968.3% during the 3rd quarter, HoldingsChannel reports. The fund owned 1,450,854 shares of the asset manager’s stock after purchasing an additional 1,315,043 shares during the period. Ares Management comprises approximately 14.1% of Curated Wealth Partners LLC’s portfolio, making the stock its 2nd largest holding. Curated Wealth Partners LLC’s holdings in Ares Management were worth $168,546,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. River Road Asset Management LLC raised its position in Ares Management by 40,652.1% in the fourth 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 period. Janus Henderson Group PLC increased its stake in shares of Ares Management by 43.8% in the first quarter. Janus Henderson Group PLC now owns 1,653,078 shares of the asset manager’s stock worth $180,343,000 after purchasing an additional 503,688 shares in the last quarter. Advent International L.P. grew its stake in Ares Management by 9,353.6% in the 1st quarter. Advent International L.P. now owns 428,720 shares of the asset manager’s stock valued at $46,773,000 after buying an additional 424,185 shares in the last quarter. Munich Reinsurance Co Stock Corp in Munich bought a new stake in shares of Ares Management during the 1st quarter valued at $44,773,000. Finally, Junto Capital Management LP bought a new position in Ares Management in the 2nd quarter worth about $40,084,000. Institutional investors and hedge funds own 50.03% of the company’s stock.

Ares Management Stock Up 0.4%

Shares of NYSE ARES traded up $0.48 on Thursday, reaching $112.97. 1,189,625 shares of the company’s stock traded hands, compared to its average volume of 2,921,456. The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 1.00. The business’s 50 day simple moving average is $131.08 and its two-hundred day simple moving average is $124.40. Ares Management Corporation has a 12 month low of $95.80 and a 12 month high of $181.19. The company has a market cap of $37.31 billion, a price-to-earnings ratio of 51.82, a price-to-earnings-growth ratio of 1.03 and a beta of 1.53.

Ares Management (NYSE:ARES) last posted its quarterly earnings results on Friday, July 31st. The asset manager reported $1.29 EPS for the quarter, beating analysts’ consensus estimates of $1.28 by $0.01. The firm had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.27 billion. Ares Management had a net margin of 10.63% and a return on equity of 25.42%. The business’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.03 earnings per share. As a group, equities research analysts forecast that Ares Management Corporation will post 5.87 EPS for the current fiscal year.

Ares Management Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 16th were given a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 4.8%. The ex-dividend date of this dividend was Wednesday, September 16th. Ares Management’s dividend payout ratio (DPR) is presently 247.71%.

Analyst Ratings Changes

Several research firms have recently weighed in on ARES. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Ares Management in a report on Friday, August 21st. Morgan Stanley set a $160.00 target price on Ares Management in a research report on Tuesday, July 21st. Wells Fargo & Company began coverage on shares of Ares Management in a research note on Friday, October 2nd. They issued an “overweight” rating and a $136.00 price objective for the company. Royal Bank Of Canada raised their price target on Ares Management from $162.00 to $168.00 and gave the stock an “outperform” rating in a research report on Monday, August 3rd. Finally, Oppenheimer boosted their price objective on shares of Ares Management from $151.00 to $162.00 and gave the company an “outperform” rating in a research report on Thursday, August 27th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $155.38.

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.