Whipplewood Advisors LLC Purchases New Position in Ares Management Corporation $ARES

Whipplewood Advisors LLC purchased a new position in Ares Management Corporation (NYSE:ARES) in the first quarter, Holdings Channel reports. The fund purchased 6,046 shares of the asset manager’s stock, valued at approximately $660,000.

A number of other hedge funds also recently bought and sold shares of ARES. Resona Asset Management Co. Ltd. increased its position in shares of Ares Management by 1.7% in the first quarter. Resona Asset Management Co. Ltd. now owns 66,477 shares of the asset manager’s stock valued at $7,235,000 after buying an additional 1,081 shares in the last quarter. Munich Reinsurance Co Stock Corp in Munich purchased a new position in shares of Ares Management during the 1st quarter valued at approximately $44,773,000. Whittier Trust Co. of Nevada Inc. lifted its position in shares of Ares Management by 6,079.2% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 37,693 shares of the asset manager’s stock valued at $3,876,000 after buying an additional 37,083 shares in the last quarter. V Square Quantitative Management LLC grew its stake in Ares Management by 105.7% in the 1st quarter. V Square Quantitative Management LLC now owns 3,073 shares of the asset manager’s stock valued at $335,000 after acquiring an additional 1,579 shares during the period. Finally, QRG Capital Management Inc. increased its holdings in Ares Management by 7.1% in the 1st quarter. QRG Capital Management Inc. now owns 3,345 shares of the asset manager’s stock worth $365,000 after acquiring an additional 221 shares in the last quarter. Hedge funds and other institutional investors own 50.03% of the company’s stock.

Ares Management Price Performance

ARES stock opened at $121.65 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 business has a 50 day simple moving average of $123.48 and a 200-day simple moving average of $128.76. The firm has a market capitalization of $40.13 billion, a PE ratio of 56.58, a price-to-earnings-growth ratio of 1.04 and a beta of 1.51. Ares Management Corporation has a 1 year low of $95.80 and a 1 year high of $195.26.

Ares Management (NYSE:ARES) last posted its quarterly 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). Ares Management had a net margin of 10.54% and a return on equity of 22.14%. The company had revenue of $1.40 billion during the quarter, compared to analyst estimates of $1.28 billion. During the same period in the prior year, the business posted $1.09 EPS. Equities research analysts anticipate that Ares Management Corporation will post 6.04 earnings per share for the current fiscal year.

Ares Management Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th were paid a $1.35 dividend. The ex-dividend date of this dividend was Tuesday, June 16th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.4%. Ares Management’s dividend payout ratio (DPR) is 251.16%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on ARES. Wall Street Zen cut shares of Ares Management from a “hold” rating to a “sell” rating in a research report on Saturday, July 4th. JPMorgan Chase & Co. cut 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. BMO Capital Markets reduced their price target on shares of Ares Management from $140.00 to $112.00 and set a “market perform” rating for the company in a research report on Tuesday, March 24th. Weiss Ratings restated a “hold (c)” rating on shares of Ares Management in a research report on Tuesday, May 26th. Finally, Citizens Jmp decreased their price target on shares of Ares Management from $190.00 to $160.00 and set a “market outperform” rating on the stock in a research note on Thursday. One investment 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 stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $161.19.

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.