Nomura Asset Management Co. Ltd. Reduces Stock Holdings in Ares Management Corporation $ARES

Nomura Asset Management Co. Ltd. reduced its holdings in Ares Management Corporation (NYSE:ARES) by 10.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 79,396 shares of the asset manager’s stock after selling 9,665 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Ares Management were worth $12,833,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in ARES. Redmont Wealth Advisors LLC acquired a new position in shares of Ares Management in the 3rd quarter valued at $40,000. Atlantic Edge Private Wealth Management LLC acquired a new position in shares of Ares Management in the 4th quarter valued at $42,000. Elyxium Wealth LLC acquired a new position in shares of Ares Management in the 4th quarter valued at $42,000. Washington Trust Advisors Inc. acquired a new position in shares of Ares Management in the 3rd quarter valued at $50,000. Finally, Leonteq Securities AG acquired a new position in shares of Ares Management in the 4th quarter valued at $70,000. 50.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on ARES shares. Zacks Research upgraded shares of Ares Management from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 5th. 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 research note on Wednesday, April 22nd. Raymond James Financial upgraded shares of Ares Management from a “market perform” rating to a “strong-buy” rating and set a $157.00 price objective for the company in a research report on Monday, February 9th. Morgan Stanley reduced their price objective on shares of 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. Finally, TD Cowen reduced their price objective on shares of Ares Management from $148.00 to $144.00 and set a “buy” rating for the company in a research report on Monday, May 18th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $162.56.

Ares Management Stock Performance

NYSE:ARES opened at $128.18 on Wednesday. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.23 and a current ratio of 0.23. The company has a fifty day moving average of $115.85 and a two-hundred day moving average of $135.92. The stock has a market capitalization of $42.28 billion, a PE ratio of 59.62, a P/E/G ratio of 1.13 and a beta of 1.51. Ares Management Corporation has a fifty-two week low of $95.80 and a fifty-two week high of $195.26.

Ares Management (NYSE:ARES) last posted 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 company had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.28 billion. Ares Management had a return on equity of 22.14% and a net margin of 10.54%.During the same quarter in the prior year, the company posted $1.09 earnings per share. As a group, research analysts forecast that Ares Management Corporation will post 6.06 earnings per share for the current fiscal year.

Ares Management Dividend Announcement

The firm also recently announced 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. The ex-dividend date of this dividend is Tuesday, June 16th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.2%. Ares Management’s dividend payout ratio is presently 251.16%.

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.