Principal Financial Group Inc. Has $289.38 Million Stake in Ares Management Co. (NYSE:ARES)

Principal Financial Group Inc. increased its stake in shares of Ares Management Co. (NYSE:ARES - Free Report) by 38.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,171,188 shares of the asset manager's stock after buying an additional 603,676 shares during the quarter. Principal Financial Group Inc. owned about 0.70% of Ares Management worth $289,376,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in ARES. International Assets Investment Management LLC bought a new stake in shares of Ares Management during the 4th quarter worth approximately $216,650,000. abrdn plc acquired a new position in Ares Management during the fourth quarter valued at approximately $231,000. Signaturefd LLC lifted its stake in Ares Management by 32.7% during the fourth quarter. Signaturefd LLC now owns 1,117 shares of the asset manager's stock worth $133,000 after purchasing an additional 275 shares during the last quarter. CWM LLC boosted its holdings in shares of Ares Management by 12.7% in the 4th quarter. CWM LLC now owns 1,877 shares of the asset manager's stock valued at $223,000 after purchasing an additional 212 shares in the last quarter. Finally, Yousif Capital Management LLC bought a new position in shares of Ares Management in the 4th quarter valued at $231,000. Institutional investors and hedge funds own 50.03% of the company's stock.

Insider Activity at Ares Management

In related news, insider R. Kipp Deveer sold 41,676 shares of the firm's stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $150.21, for a total transaction of $6,260,151.96. Following the completion of the sale, the insider now owns 1,075,000 shares of the company's stock, valued at $161,475,750. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider R. Kipp Deveer sold 41,676 shares of the company's stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $150.21, for a total transaction of $6,260,151.96. Following the transaction, the insider now directly owns 1,075,000 shares of the company's stock, valued at approximately $161,475,750. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider David B. Kaplan sold 14,659 shares of the business's stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $138.11, for a total value of $2,024,554.49. Following the sale, the insider now owns 125,000 shares of the company's stock, valued at approximately $17,263,750. The disclosure for this sale can be found here. Insiders have sold a total of 604,966 shares of company stock worth $84,367,180 over the last quarter. Company insiders own 1.20% of the company's stock.

Ares Management Trading Up 1.4 %

Shares of ARES stock traded up $2.05 on Friday, hitting $146.40. The company had a trading volume of 1,567,091 shares, compared to its average volume of 1,137,820. The stock's 50-day moving average is $142.32 and its two-hundred day moving average is $137.97. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.03 and a current ratio of 1.03. The firm has a market cap of $45.36 billion, a P/E ratio of 65.65, a P/E/G ratio of 1.29 and a beta of 1.22. Ares Management Co. has a twelve month low of $96.00 and a twelve month high of $155.53.

Ares Management (NYSE:ARES - Get Free Report) last released its quarterly earnings results on Friday, August 2nd. The asset manager reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.01. The firm had revenue of $788.68 million during the quarter, compared to analyst estimates of $860.09 million. Ares Management had a net margin of 12.86% and a return on equity of 21.22%. During the same quarter last year, the business earned $0.90 EPS. On average, equities research analysts anticipate that Ares Management Co. will post 4.23 earnings per share for the current fiscal year.

Ares Management Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be paid a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a yield of 2.54%. The ex-dividend date is Monday, September 16th. Ares Management's dividend payout ratio is presently 166.82%.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $150.00 price objective on shares of Ares Management in a research note on Wednesday, May 22nd. Barclays lifted their price target on shares of Ares Management from $151.00 to $155.00 and gave the company an "overweight" rating in a report on Monday, August 5th. Jefferies Financial Group lowered their price objective on shares of Ares Management from $131.00 to $127.00 and set a "hold" rating for the company in a research report on Thursday, May 9th. TD Cowen raised their target price on shares of Ares Management from $158.00 to $162.00 and gave the company a "buy" rating in a research report on Monday, August 5th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on shares of Ares Management from $134.00 to $133.00 and set a "hold" rating for the company in a report on Thursday, August 15th. One analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, Ares Management currently has an average rating of "Hold" and an average price target of $138.92.

Ares Management Company Profile

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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