SVB Wealth LLC Sells 5,425 Shares of Ares Management Corporation $ARES

SVB Wealth LLC lowered its stake in Ares Management Corporation (NYSE:ARES) by 30.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 12,585 shares of the asset manager’s stock after selling 5,425 shares during the quarter. SVB Wealth LLC’s holdings in Ares Management were worth $2,034,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Redmont Wealth Advisors LLC bought a new position in Ares Management in the 3rd quarter worth about $40,000. Atlantic Edge Private Wealth Management LLC bought a new position in Ares Management in the 4th quarter worth about $42,000. Washington Trust Advisors Inc. bought a new position in Ares Management in the 3rd quarter worth about $50,000. First Horizon Corp bought a new position in Ares Management in the 3rd quarter worth about $51,000. Finally, Covestor Ltd boosted its stake in Ares Management by 182.6% in the 3rd quarter. Covestor Ltd now owns 421 shares of the asset manager’s stock worth $67,000 after purchasing an additional 272 shares during the period. Institutional investors own 50.03% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Raymond James Financial raised Ares Management from a “market perform” rating to a “strong-buy” rating and set a $157.00 price target on the stock in a report on Monday, February 9th. Wall Street Zen cut Ares Management from a “hold” rating to a “sell” rating in a report on Saturday, February 28th. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Ares Management in a report on Wednesday, April 29th. The Goldman Sachs Group lowered their price target on Ares Management from $165.00 to $131.00 and set a “buy” rating on the stock in a report on Tuesday, April 7th. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $146.00 price target (down from $147.00) on shares of Ares Management in a report on Monday, May 4th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $166.06.

Ares Management Stock Performance

NYSE:ARES opened at $124.59 on Tuesday. The business’s 50-day moving average price is $110.75 and its two-hundred day moving average price is $138.70. Ares Management Corporation has a twelve month low of $95.80 and a twelve month high of $195.26. The stock has a market cap of $41.05 billion, a P/E ratio of 57.95, a PEG ratio of 1.10 and a beta of 1.50. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.86.

Ares Management (NYSE:ARES) last announced its quarterly earnings data on Friday, May 1st. The asset manager reported $1.24 earnings per share for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.08). The firm had revenue of $1.40 billion for the quarter, compared to analysts’ expectations of $1.28 billion. Ares Management had a net margin of 10.54% and a return on equity of 22.02%. During the same period in the prior year, the business posted $1.09 earnings per share. As a group, equities analysts predict that Ares Management Corporation will post 6.05 EPS for the current fiscal year.

Ares Management Dividend Announcement

The company 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. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date of this dividend is Tuesday, June 16th. Ares Management’s dividend payout ratio (DPR) is currently 251.16%.

Insider Buying and Selling at Ares Management

In other news, Director Judy D. Olian acquired 480 shares of the firm’s stock in a transaction that occurred on Friday, February 20th. The shares were bought at an average cost of $124.43 per share, with a total value of $59,726.40. Following the acquisition, the director owned 29,734 shares in the company, valued at approximately $3,699,801.62. This represents a 1.64% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.52% of the company’s stock.

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.