Corient Private Wealth LP Has $48.43 Million Holdings in Ares Management Corporation $ARES

Corient Private Wealth LP boosted its holdings in shares of Ares Management Corporation (NYSE:ARES) by 36.2% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 435,078 shares of the asset manager’s stock after purchasing an additional 115,682 shares during the period. Corient Private Wealth LP’s holdings in Ares Management were worth $48,429,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. AQR Capital Management LLC lifted its holdings in shares of Ares Management by 116.7% during the 1st quarter. AQR Capital Management LLC now owns 10,360 shares of the asset manager’s stock valued at $1,519,000 after purchasing an additional 5,579 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake 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 worth $197,000 after purchasing an additional 70 shares in the last quarter. Empowered Funds LLC raised its holdings in Ares Management by 42.7% during the 1st quarter. Empowered Funds LLC now owns 6,197 shares of the asset manager’s stock worth $909,000 after buying an additional 1,853 shares during the period. Focus Partners Wealth raised its holdings in Ares Management by 15.3% during the 1st quarter. Focus Partners Wealth now owns 1,902 shares of the asset manager’s stock worth $279,000 after buying an additional 252 shares during the period. Finally, Geneos Wealth Management Inc. lifted its stake in Ares Management by 708.2% in the first quarter. Geneos Wealth Management Inc. now owns 493 shares of the asset manager’s stock valued at $72,000 after buying an additional 432 shares in the last quarter. 50.03% of the stock is owned by institutional investors and hedge funds.

Ares Management Price Performance

NYSE ARES opened at $131.93 on Friday. The firm’s 50 day moving average is $133.40 and its 200-day moving average is $122.51. The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 1.00. The company has a market capitalization of $43.57 billion, a PE ratio of 60.52, a price-to-earnings-growth ratio of 1.14 and a beta of 1.49. Ares Management Corporation has a 12-month low of $95.80 and a 12-month high of $186.85.

Ares Management (NYSE:ARES) last announced its earnings results on Friday, July 31st. The asset manager reported $1.29 EPS for the quarter, topping the consensus estimate of $1.28 by $0.01. The business had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.27 billion. Ares Management had a net margin of 10.63% and a return on equity of 25.42%. The firm’s revenue was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.03 earnings per share. Equities research analysts anticipate that Ares Management Corporation will post 5.93 earnings per share for the current fiscal year.

Ares Management Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 16th will be paid a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date is Wednesday, September 16th. Ares Management’s dividend payout ratio is currently 247.71%.

Wall Street Analyst Weigh In

ARES has been the subject of several research analyst reports. Keefe, Bruyette & Woods upgraded shares of Ares Management to a “hold” rating in a report on Monday, July 20th. Oppenheimer raised their price objective on shares of Ares Management from $151.00 to $162.00 and gave the stock an “outperform” rating in a report on Thursday, August 27th. Royal Bank Of Canada boosted their price objective on shares of Ares Management from $162.00 to $168.00 and gave the company an “outperform” rating in a research report on Monday, August 3rd. Wall Street Zen lowered shares of Ares Management from a “hold” rating to a “sell” rating in a research note on Saturday, July 4th. Finally, Citigroup reiterated a “market outperform” rating on shares of Ares Management in a report on Monday, August 3rd. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $160.47.

About Ares Management

Ares Management Corporation is a global alternative investment manager that provides investment solutions across credit, private equity, real assets and secondaries. The company manages capital for institutional investors, financial intermediaries and individual investors through a range of private funds, public-market strategies and other investment vehicles.

Its investment activities include direct lending and other forms of private credit, corporate and growth-oriented private equity, real estate and infrastructure investments, and secondary-market transactions involving private investment interests.