OP Asset Management Ltd Buys Shares of 38,138 Ares Management Corporation $ARES

OP Asset Management Ltd bought a new stake in shares of Ares Management Corporation (NYSE:ARES) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 38,138 shares of the asset manager’s stock, valued at approximately $4,161,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Ares Management by 5.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,344 shares of the asset manager’s stock valued at $197,000 after buying an additional 70 shares in the last quarter. Fulcrum Asset Management LLP raised its stake in Ares Management by 1.7% during the third quarter. Fulcrum Asset Management LLP now owns 4,321 shares of the asset manager’s stock valued at $691,000 after buying an additional 72 shares during the last quarter. Wedbush Securities Inc. boosted its holdings in Ares Management by 4.2% in the fourth quarter. Wedbush Securities Inc. now owns 2,030 shares of the asset manager’s stock worth $328,000 after acquiring an additional 81 shares in the last quarter. U.S. Capital Wealth Advisors LLC grew its stake in shares of Ares Management by 3.2% in the fourth quarter. U.S. Capital Wealth Advisors LLC now owns 2,666 shares of the asset manager’s stock worth $431,000 after acquiring an additional 83 shares during the last quarter. Finally, First Manhattan CO. LLC. grew its stake in shares of Ares Management by 0.5% in the fourth quarter. First Manhattan CO. LLC. now owns 17,634 shares of the asset manager’s stock worth $2,850,000 after acquiring an additional 89 shares during the last quarter. Hedge funds and other institutional investors own 50.03% of the company’s stock.

Ares Management Stock Down 2.9%

ARES stock opened at $109.19 on Friday. The stock has a market capitalization of $36.02 billion, a P/E ratio of 50.79, a P/E/G ratio of 0.99 and a beta of 1.51. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.23 and a quick ratio of 0.23. Ares Management Corporation has a 1-year low of $95.80 and a 1-year high of $195.26. The business has a fifty day moving average price of $123.48 and a 200-day moving average price of $132.54.

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 the consensus estimate of $1.32 by ($0.08). Ares Management had a net margin of 10.54% and a return on equity of 22.14%. The business had revenue of $1.40 billion for the quarter, compared to analysts’ expectations of $1.28 billion. During the same period last year, the business earned $1.09 earnings per share. Equities analysts forecast that Ares Management Corporation will post 6.06 earnings per share for the current fiscal year.

Ares Management Announces Dividend

The business also recently declared 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 4.9%. The ex-dividend date of this dividend is Tuesday, June 16th. Ares Management’s dividend payout ratio (DPR) is presently 251.16%.

Analyst Ratings Changes

ARES has been the subject of several recent analyst reports. Oppenheimer reaffirmed an “outperform” rating and issued a $146.00 price target (down from $147.00) on shares of Ares Management in a research report on Monday, May 4th. Wall Street Zen upgraded shares of Ares Management from a “sell” rating to a “hold” rating in a research note on Saturday, June 6th. Citizens Jmp decreased their target price on shares of Ares Management from $205.00 to $190.00 and set a “market outperform” rating for the company in a report on Wednesday, April 22nd. TD Cowen upped their target price on shares of Ares Management from $144.00 to $153.00 and gave the stock a “buy” rating in a research note on Tuesday. Finally, Zacks Research upgraded shares of Ares Management from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 5th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, Ares Management presently has an average rating of “Moderate Buy” and an average target price of $163.12.

About Ares Management

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.