Capital World Investors Cuts Stock Position in Ares Management Corporation $ARES

Capital World Investors lowered its holdings in Ares Management Corporation (NYSE:ARES) by 12.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,129,166 shares of the asset manager’s stock after selling 1,449,855 shares during the period. Capital World Investors owned about 3.10% of Ares Management worth $1,637,179,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Redmont Wealth Advisors LLC purchased a new position in Ares Management in the third quarter worth $40,000. Atlantic Edge Private Wealth Management LLC purchased a new position in Ares Management in the fourth quarter worth $42,000. Elyxium Wealth LLC purchased a new position in Ares Management in the fourth quarter worth $42,000. Washington Trust Advisors Inc. purchased a new position in Ares Management in the third quarter worth $50,000. Finally, Leonteq Securities AG purchased a new position in Ares Management in the fourth quarter worth $70,000. Hedge funds and other institutional investors own 50.03% of the company’s stock.

Analyst Upgrades and Downgrades

ARES has been the topic of several research analyst reports. Barclays boosted their price objective on Ares Management from $127.00 to $140.00 and gave the stock an “overweight” rating in a research report on Monday, May 4th. Raymond James Financial raised Ares Management from a “market perform” rating to a “strong-buy” rating and set a $157.00 price objective on the stock in a research report on Monday, February 9th. JPMorgan Chase & Co. cut their price objective on Ares Management from $188.00 to $144.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 28th. The Goldman Sachs Group dropped their price target on Ares Management from $165.00 to $131.00 and set a “buy” rating on the stock in a research report on Tuesday, April 7th. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $146.00 price target (down from $147.00) on shares of Ares Management in a research report on Monday, May 4th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $162.56.

Ares Management Stock Down 3.5%

Shares of NYSE ARES opened at $125.92 on Friday. Ares Management Corporation has a one year low of $95.80 and a one year high of $195.26. 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 business’s fifty day moving average price is $117.49 and its 200-day moving average price is $135.38. The stock has a market capitalization of $41.53 billion, a PE ratio of 58.57, a P/E/G ratio of 1.10 and a beta of 1.51.

Ares Management (NYSE:ARES) last issued its quarterly earnings data on Friday, May 1st. The asset manager reported $1.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.08). The company had revenue of $1.40 billion for the quarter, compared to analysts’ expectations 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 last year, the company posted $1.09 EPS. On average, equities research analysts anticipate that Ares Management Corporation will post 6.06 EPS for the current year.

Ares Management Dividend Announcement

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