Loomis Sayles & Co. L P grew its stake in shares of Ares Management Co. (NYSE:ARES) by 0.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 801,405 shares of the asset manager’s stock after acquiring an additional 1,745 shares during the period. Loomis Sayles & Co. L P owned 0.31% of Ares Management worth $44,903,000 at the end of the most recent quarter.
A number of other hedge funds also recently modified their holdings of the business. Arizona State Retirement System lifted its position in Ares Management by 0.8% during the first quarter. Arizona State Retirement System now owns 31,402 shares of the asset manager’s stock worth $1,759,000 after acquiring an additional 254 shares during the last quarter. Hilltop Holdings Inc. raised its position in shares of Ares Management by 4.3% in the first quarter. Hilltop Holdings Inc. now owns 6,540 shares of the asset manager’s stock valued at $367,000 after buying an additional 270 shares in the last quarter. Strategic Blueprint LLC raised its position in shares of Ares Management by 2.9% in the first quarter. Strategic Blueprint LLC now owns 10,261 shares of the asset manager’s stock valued at $575,000 after buying an additional 286 shares in the last quarter. Clearbridge Investments LLC raised its position in shares of Ares Management by 2.4% in the first quarter. Clearbridge Investments LLC now owns 13,313 shares of the asset manager’s stock valued at $746,000 after buying an additional 308 shares in the last quarter. Finally, HighTower Advisors LLC raised its position in shares of Ares Management by 1.4% in the first quarter. HighTower Advisors LLC now owns 23,903 shares of the asset manager’s stock valued at $1,340,000 after buying an additional 326 shares in the last quarter. Hedge funds and other institutional investors own 43.13% of the company’s stock.
In other Ares Management news, CFO Michael R. Mcferran sold 100,000 shares of the company’s stock in a transaction on Tuesday, June 1st. The shares were sold at an average price of $55.23, for a total transaction of $5,523,000.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Antoinette Cook Bush purchased 5,106 shares of the business’s stock in a transaction on Monday, June 14th. The shares were purchased at an average cost of $58.79 per share, for a total transaction of $300,181.74. The disclosure for this purchase can be found here. Corporate insiders own 49.34% of the company’s stock.
Shares of Ares Management stock opened at $64.14 on Thursday. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.43. Ares Management Co. has a twelve month low of $38.13 and a twelve month high of $65.65. The company has a market capitalization of $16.81 billion, a PE ratio of 33.80 and a beta of 1.03. The business has a fifty day simple moving average of $58.99.
Ares Management (NYSE:ARES) last issued its quarterly earnings data on Thursday, April 29th. The asset manager reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.05). Ares Management had a return on equity of 15.46% and a net margin of 10.03%. The business had revenue of $411.25 million during the quarter, compared to the consensus estimate of $436.80 million. As a group, equities research analysts anticipate that Ares Management Co. will post 2.2 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, June 30th. Shareholders of record on Wednesday, June 16th were given a dividend of $0.47 per share. The ex-dividend date of this dividend was Tuesday, June 15th. This represents a $1.88 dividend on an annualized basis and a yield of 2.93%. Ares Management’s dividend payout ratio (DPR) is currently 101.08%.
About Ares Management
Ares Management Corporation operates as an alternative asset manager in the United States, Europe, and Asia. The company's Tradable Credit Group segment manages various types of investment funds, such as commingled and separately managed accounts for institutional investors, and publicly traded vehicles and sub-advised funds for retail investors in the tradable and non-investment grade corporate credit markets.
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