Ares Management Corporation $ARES Position Lowered by Peregrine Capital Management LLC

Key Points

• Peregrine Capital Management trimmed its Ares Management stake by 1.6% in the first quarter, selling 9,388 shares and ending with 584,716 shares worth about $63.8 million.
• Analyst sentiment remains positive overall, with Ares holding a Moderate Buy rating and an average price target of $163.12, even though some firms cut targets recently.
• Ares reported mixed quarterly results: EPS of $1.24 missed estimates, but revenue of $1.40 billion topped expectations; the company also paid a quarterly dividend of $1.35, implying a 4.8% yield.

Peregrine Capital Management LLC decreased its position in shares of Ares Management Corporation (NYSE:ARES - Free Report) by 1.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 584,716 shares of the asset manager's stock after selling 9,388 shares during the quarter. Ares Management makes up about 2.4% of Peregrine Capital Management LLC's portfolio, making the stock its 4th biggest holding. Peregrine Capital Management LLC owned approximately 0.18% of Ares Management worth $63,793,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of ARES. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Ares Management by 5.5% in the 1st 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. Fulcrum Asset Management LLP increased its holdings in shares of Ares Management by 1.7% during the 3rd quarter. Fulcrum Asset Management LLP now owns 4,321 shares of the asset manager's stock worth $691,000 after buying an additional 72 shares during the last quarter. Wedbush Securities Inc. increased its holdings in shares of Ares Management by 4.2% during the 4th quarter. Wedbush Securities Inc. now owns 2,030 shares of the asset manager's stock worth $328,000 after buying an additional 81 shares during the last quarter. U.S. Capital Wealth Advisors LLC raised its position in shares of Ares Management by 3.2% during the 4th quarter. U.S. Capital Wealth Advisors LLC now owns 2,666 shares of the asset manager's stock valued at $431,000 after buying an additional 83 shares during the period. Finally, First Manhattan CO. LLC. raised its position in shares of Ares Management by 0.5% during the 4th quarter. First Manhattan CO. LLC. now owns 17,634 shares of the asset manager's stock valued at $2,850,000 after buying an additional 89 shares during the period. Hedge funds and other institutional investors own 50.03% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Zacks Research upgraded Ares Management from a "strong sell" rating to a "hold" rating in a report on Tuesday, May 5th. The Goldman Sachs Group reduced their target price on Ares Management from $165.00 to $131.00 and set a "buy" rating on the stock in a research report on Tuesday, April 7th. BMO Capital Markets decreased their price target on Ares Management from $140.00 to $112.00 and set a "market perform" rating on the stock in a research note on Tuesday, March 24th. Royal Bank Of Canada reiterated an "outperform" rating on shares of Ares Management in a report on Wednesday, April 29th. Finally, Barclays raised their price objective on Ares Management from $127.00 to $140.00 and gave the stock an "overweight" rating in a research report on Monday, May 4th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $163.12.

Ares Management Stock Up 3.6%

Ares Management stock opened at $111.45 on Wednesday. The company has a market capitalization of $36.76 billion, a PE ratio of 51.84, a price-to-earnings-growth ratio of 0.94 and a beta of 1.51. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.23 and a current ratio of 0.23. Ares Management Corporation has a fifty-two week low of $95.80 and a fifty-two week high of $195.26. The firm has a 50 day moving average price of $123.20 and a 200 day moving average price of $131.36.

Ares Management (NYSE:ARES - Get Free Report) last released its quarterly earnings results on Friday, May 1st. The asset manager reported $1.24 EPS for the quarter, missing analysts' consensus estimates of $1.32 by ($0.08). Ares Management had a return on equity of 22.14% and a net margin of 10.54%.The firm had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.28 billion. During the same quarter last year, the company earned $1.09 earnings per share. Research analysts expect that Ares Management Corporation will post 6.06 earnings per share for the current year.

Ares Management Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 16th were issued a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 4.8%. The ex-dividend date was Tuesday, June 16th. Ares Management's payout ratio is currently 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.

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