Ares Management Corporation $ARES Shares Purchased by Wealthfront Advisers LLC

Key Points

• Wealthfront Advisers LLC boosted its stake in Ares Management by 88.7% in the first quarter, adding 20,490 shares and bringing its total holdings to 43,582 shares valued at about $4.76 million.
• Ares Management reported mixed quarterly results, with EPS of $1.24 coming in below expectations while revenue of $1.40 billion topped analyst estimates. The company also guided toward full-year EPS of 5.99 based on analysts’ average forecast.
• The stock recently paid a quarterly dividend of $1.35, equal to an annualized yield of about 4.3%, while analysts currently rate the shares a Moderate Buy with an average target price of $159.13.

Wealthfront Advisers LLC raised its stake in shares of Ares Management Corporation (NYSE:ARES - Free Report) by 88.7% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 43,582 shares of the asset manager's stock after buying an additional 20,490 shares during the period. Wealthfront Advisers LLC's holdings in Ares Management were worth $4,755,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in ARES. AQR Capital Management LLC raised its position in shares of Ares Management by 116.7% in the first quarter. AQR Capital Management LLC now owns 10,360 shares of the asset manager's stock worth $1,519,000 after acquiring an additional 5,579 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of 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 acquiring an additional 70 shares during the last quarter. Empowered Funds LLC lifted its holdings in Ares Management by 42.7% in the 1st 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 in the last quarter. Focus Partners Wealth lifted its stake in shares of Ares Management by 15.3% in the first quarter. Focus Partners Wealth now owns 1,902 shares of the asset manager's stock worth $279,000 after buying an additional 252 shares in the last quarter. Finally, Geneos Wealth Management Inc. lifted its stake in Ares Management by 708.2% in the 1st quarter. Geneos Wealth Management Inc. now owns 493 shares of the asset manager's stock worth $72,000 after purchasing an additional 432 shares in the last quarter. 50.03% of the stock is currently owned by institutional investors and hedge funds.

Ares Management Trading Up 0.0%

NYSE:ARES opened at $125.44 on Friday. The stock's 50 day moving average price is $123.76 and its 200 day moving average price is $127.11. The company has a market capitalization of $41.38 billion, a PE ratio of 58.34, a P/E/G ratio of 1.11 and a beta of 1.51. Ares Management Corporation has a 52-week low of $95.80 and a 52-week high of $195.26. 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 (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 the consensus estimate of $1.32 by ($0.08). The business had revenue of $1.40 billion during 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 22.14%. During the same quarter last year, the company earned $1.09 EPS. On average, research analysts anticipate that Ares Management Corporation will post 5.99 EPS for the current year.

Ares Management Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th were issued a $1.35 dividend. The ex-dividend date of this dividend was Tuesday, June 16th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.3%. Ares Management's payout ratio is presently 251.16%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on ARES. Citizens Jmp reduced their price target on Ares Management from $190.00 to $160.00 and set a "market outperform" rating on the stock in a report on Thursday, July 9th. Weiss Ratings restated a "hold (c)" rating on shares of Ares Management in a research note on Tuesday, May 26th. BMO Capital Markets raised their price objective on shares of Ares Management from $125.00 to $128.00 and gave the company a "market perform" rating in a research note on Monday, July 13th. Citigroup reiterated an "outperform" rating on shares of Ares Management in a report on Thursday, July 9th. Finally, TD Cowen boosted their price target on shares of Ares Management from $144.00 to $153.00 and gave the stock a "buy" rating in a report on Tuesday, June 23rd. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $159.13.

Ares Management Profile

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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