DNB Asset Management AS Has $18.60 Million Position in Ares Management Corporation $ARES

DNB Asset Management AS reduced its position in shares of Ares Management Corporation (NYSE:ARES) by 4.7% in the 4th quarter, Holdings Channel reports. The institutional investor owned 115,076 shares of the asset manager’s stock after selling 5,725 shares during the quarter. DNB Asset Management AS’s holdings in Ares Management were worth $18,600,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of ARES. AQR Capital Management LLC boosted its position in Ares Management by 116.7% during the first 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 during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Ares Management by 5.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,344 shares of the asset manager’s stock valued at $197,000 after purchasing an additional 70 shares during the last quarter. Empowered Funds LLC boosted its position in Ares Management by 42.7% during the first quarter. Empowered Funds LLC now owns 6,197 shares of the asset manager’s stock valued at $909,000 after purchasing an additional 1,853 shares during the last quarter. Focus Partners Wealth boosted its position in Ares Management by 15.3% during the first quarter. Focus Partners Wealth now owns 1,902 shares of the asset manager’s stock valued at $279,000 after purchasing an additional 252 shares during the last quarter. Finally, Geneos Wealth Management Inc. boosted its position in Ares Management by 708.2% during the first quarter. Geneos Wealth Management Inc. now owns 493 shares of the asset manager’s stock valued at $72,000 after purchasing an additional 432 shares during the last quarter. 50.03% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently commented on ARES. JPMorgan Chase & Co. reduced their price target on Ares Management from $188.00 to $144.00 and set an “overweight” rating for the company in a research report on Tuesday, April 28th. Raymond James Financial raised Ares Management from a “market perform” rating to a “strong-buy” rating and set a $157.00 price target for the company in a research report on Monday, February 9th. Zacks Research raised Ares Management from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 5th. Barclays increased their price target on Ares Management from $127.00 to $140.00 and gave the company an “overweight” rating in a research report on Monday, May 4th. Finally, Morgan Stanley reduced their price target on Ares Management from $178.00 to $163.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 21st. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, Ares Management currently has an average rating of “Moderate Buy” and an average price target of $166.06.

Ares Management Stock Performance

ARES opened at $123.44 on Friday. Ares Management Corporation has a 12-month low of $95.80 and a 12-month high of $195.26. The stock has a market cap of $40.72 billion, a price-to-earnings ratio of 57.42, a PEG ratio of 1.08 and a beta of 1.50. The business has a 50 day moving average of $111.65 and a 200-day moving average of $138.09. The company has a quick ratio of 1.22, a current ratio of 0.23 and a debt-to-equity ratio of 0.96.

Ares Management (NYSE:ARES) last released 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). 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 during the quarter, compared to analyst estimates of $1.28 billion. During the same period in the previous year, the business earned $1.09 earnings per share. On average, equities research analysts expect that Ares Management Corporation will post 6.05 earnings per share for the current year.

Ares Management Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th will be given a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date of this dividend is Tuesday, June 16th. Ares Management’s dividend payout ratio (DPR) is presently 251.16%.

Insider Activity

In other Ares Management news, Director Judy D. Olian acquired 480 shares of the business’s stock in a transaction dated Friday, February 20th. The stock was bought at an average cost of $124.43 per share, with a total value of $59,726.40. Following the completion of the transaction, the director directly owned 29,734 shares in the company, valued at approximately $3,699,801.62. This represents a 1.64% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 36.86% of the stock is currently owned by insiders.

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.