Ares Management Corporation $ARES Stake Increased by Bank of New York Mellon Corp

Bank of New York Mellon Corp increased its stake in Ares Management Corporation (NYSE:ARES) by 48.6% in the fourth quarter, Holdings Channel reports. The institutional investor owned 1,174,032 shares of the asset manager’s stock after acquiring an additional 384,148 shares during the quarter. Bank of New York Mellon Corp’s holdings in Ares Management were worth $189,759,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Vulcan Value Partners LLC boosted its stake in shares of Ares Management by 10.6% during the 3rd quarter. Vulcan Value Partners LLC now owns 1,350,249 shares of the asset manager’s stock valued at $215,785,000 after buying an additional 129,368 shares during the period. Hudson Bay Capital Management LP boosted its stake in shares of Ares Management by 1,903.9% during the 3rd quarter. Hudson Bay Capital Management LP now owns 60,717 shares of the asset manager’s stock valued at $9,708,000 after buying an additional 57,687 shares during the period. Quilter Plc boosted its stake in shares of Ares Management by 5.6% during the 4th quarter. Quilter Plc now owns 704,069 shares of the asset manager’s stock valued at $113,799,000 after buying an additional 37,366 shares during the period. CI Investments Inc. boosted its stake in shares of Ares Management by 35,425.5% during the 3rd quarter. CI Investments Inc. now owns 221,679 shares of the asset manager’s stock valued at $35,444,000 after buying an additional 221,055 shares during the period. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of Ares Management during the 3rd quarter valued at $2,971,000. Institutional investors own 50.03% of the company’s stock.

Ares Management Trading Down 3.5%

Ares Management stock opened at $125.92 on Friday. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.23 and a quick ratio of 0.23. The company has a market capitalization of $41.53 billion, a price-to-earnings ratio of 58.57, a PEG ratio of 1.14 and a beta of 1.51. Ares Management Corporation has a one year low of $95.80 and a one year high of $195.26. The company’s fifty day moving average price is $117.49 and its two-hundred day moving average price is $135.38.

Ares Management (NYSE:ARES) last posted its earnings results on Friday, May 1st. The asset manager reported $1.24 EPS for the quarter, missing the consensus estimate of $1.32 by ($0.08). The business 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 period in the previous year, the company earned $1.09 earnings per share. On average, analysts forecast that Ares Management Corporation will post 6.06 earnings per share for the current fiscal year.

Ares Management Announces Dividend

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

Wall Street Analyst Weigh In

A number of brokerages have issued reports on ARES. JPMorgan Chase & Co. decreased their target price on shares of Ares Management from $188.00 to $144.00 and set an “overweight” rating for the company in a research note on Tuesday, April 28th. Oppenheimer reissued an “outperform” rating and set a $146.00 target price (down from $147.00) on shares of Ares Management in a research note on Monday, May 4th. Deutsche Bank Aktiengesellschaft raised shares of Ares Management from a “hold” rating to a “buy” rating and decreased their target price for the company from $182.00 to $155.00 in a research note on Friday, February 6th. Wall Street Zen raised shares of Ares Management from a “sell” rating to a “hold” rating in a research note on Saturday. Finally, UBS Group set a $148.00 target price on shares of Ares Management in a research note on Friday, February 20th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, Ares Management has an average rating of “Moderate Buy” and an average price target of $162.56.

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.