The Vanguard Group, Inc. has recently announced that it has increased stake in Ares Management Corporation (NYSE:ARES) by 1.23%. After grabbing 14.75 million shares, the institutional investor is now in possession of 0.18 million shares of the Financial Company. The new investment brought the stake of investor firm to 8.38% having worth around $1.29 billion. Moreover, BlackRock Fund Advisors increased its share by 0.12 million to have a control over 6.2 million shares. And Boston Partners Global Investors, raised its holdings to 3.21 million shares by acquiring 3.21 million shares or 1.83% of the stake.
Ares Management Corporation (ARES) concluded trading on 05/24/23 at a closing price of $83.37, with 1.22 million shares of worth about $101.68 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 7.86% during that period and on Wednesday the price saw a loss of about -1.62%. Currently the company’s common shares owned by public are about 178.98M shares, out of which, 132.38M shares are available for trading.
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A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 15 analysts are covering the ARES stock and their offered price forecasts bring an average price target of $97.85. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $108.00 and could fall to a lowest price of $89.00. The stock’s current price level is 15.32% above of average price target set by the analysts, while a rise to estimated low would result in gain of 6.33% for the stock. However, touching the estimated high of $108.00 would mean a gain of 22.81% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 55 times over the past 12 months. They bought 677,552 shares in 15 of the transactions. In 40 selling transactions, insiders dumped 2,111,878 shares.
American Funds Small Cap World Fu, American Funds Income Fund of Ame, and Vanguard Total Stock Market ETF are the top 3 mutual funds which are holding stakes in Ares Management Corporation American Funds Small Cap World Fu is currently holding 5.17 million shares of worth totaling $453.26 million. The company recently came buying 0.0 shares which brought its stake up to 2.94% of the company’s outstanding shares. Vanguard Total Stock Market ETF, after buying 4.85 million shares, have now control over 2.76% of the stake in the company. It holds 18802.0 shares of worth $424.72 million.
Ares Management Corporation (NYSE: ARES) started trading at $83.82, below -$0.92 from concluding price of the previous day. However, the stock later moved at a day high price of 84.07, or with a loss of -1.62%. Stock saw a price change of 0.20% in past 5 days and over the past one month there was a price change of 0.12%. Year-to-date (YTD), ARES shares are showing a performance of 21.81% which increased to 23.99% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $52.69 but also hit the highest price of $90.28 during that period. The average intraday trading volume for Ares Management Corporation shares is 1.03 million. The stock is currently trading 0.67% above its 20-day simple moving average (SMA20), while that difference is up 1.92% for SMA50 and it goes to 9.15% higher than SMA200.
The Vanguard Group, Inc. acquired 14.75 million shares of Ares Management Corporation having value of about $1.29 billion. Data submitted at the U.S SEC by The Vanguard Group, Inc. revealed that the firm now holds 0.18 million shares in the company valued at close to $14992010.25, or have control over 1.23% stake in the company. Ares Management Corporation (NYSE: ARES) currently have 178.98M outstanding shares and institutions hold larger chunk of about 75.80% of that. Holding of mutual funds in the company is about 42.06% while other institutional holders and individual stake holders have control over 43.39% and 21.09% of the stake respectively.
The stock has a current market capitalization of $24.76B and its 3Y-monthly beta is at 1.34. PE ratio of stock for trailing 12 months is 74.17, while it has posted earnings per share of $1.12 in the same period. Its PEG reads 2.80 while making debt-to-equity ratio of 8.02. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for ARES, volatility over the week remained 2.31% while standing at 2.95% over the month.
Analysts are in expectations that Ares Management Corporation (ARES) stock would likely to be making an EPS of $0.86 in the current quarter, while forecast for next quarter EPS is $0.92 and it is $5.08 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.79 which is $0.93 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.74 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -57.30% while it is estimated to increase by 34.62% in next year. EPS is likely to grow at an annualized rate of 26.50% for next 5-years, compared to annual growth of 7.10% made by the stock over the past 5-years.
Analysts at 15 brokerage firms have issued recommendations for the Ares Management Corporation (ARES)’s stock and average of those rates the stock at a “Moderate Buy” and assign it a score of 2.10. Out of those 15 Wall Street analysts, 10 recommended a “Buy” rating, while 4 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
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