Ares Management Corporation $ARES Shares Acquired by Granite Bay Wealth Management LLC

Key Points

• Granite Bay Wealth Management boosted its Ares Management stake by 44.5% in the first quarter, buying 13,805 additional shares and bringing its total to 44,832 shares worth about $4.9 million.
• Ares Management’s latest quarterly results showed EPS of $1.24, missing analyst expectations, while revenue came in at $1.40 billion, above estimates; analysts now expect full-year EPS of 6.03.
• The company recently paid a $1.35 quarterly dividend ($5.40 annualized), and Wall Street currently has a Moderate Buy consensus with an average price target of $158.47.

Granite Bay Wealth Management LLC increased its position in Ares Management Corporation (NYSE:ARES - Free Report) by 44.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 44,832 shares of the asset manager's stock after buying an additional 13,805 shares during the quarter. Ares Management comprises about 1.0% of Granite Bay Wealth Management LLC's investment portfolio, making the stock its 29th biggest position. Granite Bay Wealth Management LLC's holdings in Ares Management were worth $4,903,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Candriam S.C.A. increased its stake in Ares Management by 7.6% during the first quarter. Candriam S.C.A. now owns 15,419 shares of the asset manager's stock worth $1,682,000 after acquiring an additional 1,083 shares during the last quarter. Sequoia Financial Advisors LLC lifted its stake in shares of Ares Management by 23.7% in the 1st quarter. Sequoia Financial Advisors LLC now owns 7,635 shares of the asset manager's stock valued at $833,000 after purchasing an additional 1,464 shares in the last quarter. Whipplewood Advisors LLC purchased a new stake in shares of Ares Management during the 1st quarter worth about $660,000. Resona Asset Management Co. Ltd. grew its holdings in shares of Ares Management by 1.7% during the 1st quarter. Resona Asset Management Co. Ltd. now owns 66,477 shares of the asset manager's stock worth $7,235,000 after purchasing an additional 1,081 shares during the period. Finally, Munich Reinsurance Co Stock Corp in Munich acquired a new stake in Ares Management during the 1st quarter worth approximately $44,773,000. Institutional investors and hedge funds own 50.03% of the company's stock.

Ares Management Stock Up 0.3%

NYSE ARES opened at $122.07 on Friday. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.96. Ares Management Corporation has a fifty-two week low of $95.80 and a fifty-two week high of $195.26. The business has a 50 day moving average price of $123.71 and a two-hundred day moving average price of $128.71. The stock has a market cap of $40.26 billion, a PE ratio of 56.78, a P/E/G ratio of 1.07 and a beta of 1.51.

Ares Management (NYSE:ARES - Get Free Report) last posted 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 firm had revenue of $1.40 billion for the quarter, compared to analysts' expectations of $1.28 billion. During the same quarter in the prior year, the business earned $1.09 EPS. As a group, sell-side analysts predict that Ares Management Corporation will post 6.03 EPS for the current fiscal year.

Ares Management Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 16th were paid a dividend of $1.35 per share. The ex-dividend date of this dividend was Tuesday, June 16th. This represents a $5.40 annualized dividend and a yield of 4.4%. Ares Management's payout ratio is 251.16%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on ARES shares. Oppenheimer restated 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. Morgan Stanley dropped 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. Royal Bank Of Canada reissued an "outperform" rating on shares of Ares Management in a research note on Wednesday, April 29th. Weiss Ratings restated a "hold (c)" rating on shares of Ares Management in a report on Tuesday, May 26th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Ares Management from $188.00 to $144.00 and set an "overweight" rating for the company in a research report on Tuesday, April 28th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat.com, Ares Management currently has an average rating of "Moderate Buy" and a consensus target price of $158.47.

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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