ProShare Advisors LLC Invests $7.05 Million in Ares Management Corporation $ARES

ProShare Advisors LLC purchased a new position in shares of Ares Management Corporation (NYSE:ARES) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 43,609 shares of the asset manager’s stock, valued at approximately $7,049,000.

Other institutional investors have also modified their holdings of the company. Redmont Wealth Advisors LLC purchased a new stake in shares of Ares Management during the 3rd quarter worth approximately $40,000. Atlantic Edge Private Wealth Management LLC purchased a new stake in shares of Ares Management during the 4th quarter worth approximately $42,000. Elyxium Wealth LLC purchased a new stake in shares of Ares Management during the 4th quarter worth approximately $42,000. Washington Trust Advisors Inc. purchased a new stake in shares of Ares Management during the 3rd quarter worth approximately $50,000. Finally, Covestor Ltd boosted its stake in shares of Ares Management by 182.6% during the 3rd quarter. Covestor Ltd now owns 421 shares of the asset manager’s stock worth $67,000 after acquiring an additional 272 shares in the last quarter. Hedge funds and other institutional investors own 50.03% of the company’s stock.

Analyst Ratings Changes

ARES has been the topic of several research analyst reports. BMO Capital Markets decreased their price target on Ares Management from $140.00 to $112.00 and set a “market perform” rating on the stock in a research note on Tuesday, March 24th. Royal Bank Of Canada reissued an “outperform” rating on shares of Ares Management in a research note on Wednesday, April 29th. Oppenheimer restated an “outperform” rating and set a $146.00 price objective (down from $147.00) on shares of Ares Management in a research report on Monday, May 4th. The Goldman Sachs Group cut their price objective on Ares Management from $165.00 to $131.00 and set a “buy” rating for the company in a research report on Tuesday, April 7th. Finally, Wall Street Zen downgraded Ares Management from a “hold” rating to a “sell” rating in a research report on Saturday, February 28th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Ares Management has a consensus rating of “Moderate Buy” and an average price target of $162.56.

Ares Management Trading Up 1.7%

ARES stock opened at $124.19 on Friday. The company has a market cap of $40.96 billion, a price-to-earnings ratio of 57.76, a PEG ratio of 1.07 and a beta of 1.50. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.96. The business has a fifty day simple moving average of $112.58 and a 200-day simple moving average of $137.25. Ares Management Corporation has a 52 week low of $95.80 and a 52 week high of $195.26.

Ares Management (NYSE:ARES) last released its quarterly earnings data on Friday, May 1st. The asset manager reported $1.24 EPS for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.08). The firm had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.28 billion. Ares Management had a return on equity of 22.14% and a net margin of 10.54%.During the same quarter in the previous year, the company earned $1.09 earnings per share. On average, equities research analysts expect that Ares Management Corporation will post 6.05 EPS for the current year.

Ares Management Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th will be issued a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date is Tuesday, June 16th. Ares Management’s dividend payout ratio is presently 251.16%.

Ares Management Company Profile

Ares Management Corporation (NYSE: ARES) is a global alternative asset manager that provides investment solutions across credit, private equity and real estate. The firm originates and manages capital across a range of strategies including direct lending, syndicated and special situations credit, private equity buyouts and growth investments, and real estate equity and debt. Ares serves institutional investors, insurance companies, pension funds, sovereign wealth funds, and high?net?worth clients through both commingled funds and bespoke managed account structures.

Within credit, Ares offers strategies spanning leveraged loans, structured credit, opportunistic and distressed debt, and specialty finance, with an emphasis on underwriting, portfolio construction and active asset management.