Ares Management Corporation $ARES Stock Position Lessened by PNC Financial Services Group Inc.

Key Points

• PNC Financial Services Group cut its Ares Management position by 53.9% in the fourth quarter, selling 39,147 shares and leaving it with 33,527 shares worth about $5.4 million.
• Ares Management reported mixed quarterly results, with EPS of $1.24 missing estimates but revenue of $1.40 billion beating expectations; analysts still expect full-year EPS of 6.06.
• The company declared a quarterly dividend of $1.35 per share payable June 30, implying a 4.3% annualized yield, while analysts currently rate the stock a Moderate Buy with an average price target of $162.56.

PNC Financial Services Group Inc. decreased its holdings in Ares Management Corporation (NYSE:ARES - Free Report) by 53.9% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 33,527 shares of the asset manager's stock after selling 39,147 shares during the quarter. PNC Financial Services Group Inc.'s holdings in Ares Management were worth $5,419,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently modified their holdings of ARES. AQR Capital Management LLC grew its stake 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 purchasing an additional 5,579 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Ares Management by 5.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,344 shares of the asset manager's stock worth $197,000 after purchasing an additional 70 shares in the last quarter. Empowered Funds LLC grew its stake in shares of Ares Management by 42.7% in the first quarter. Empowered Funds LLC now owns 6,197 shares of the asset manager's stock worth $909,000 after purchasing an additional 1,853 shares in the last quarter. Focus Partners Wealth boosted its stake 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 buying an additional 252 shares in the last quarter. Finally, Geneos Wealth Management Inc. boosted its stake 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 buying an additional 432 shares in the last quarter. Institutional investors own 50.03% of the company's stock.

Ares Management Stock Up 0.0%

Shares of Ares Management stock opened at $124.45 on Monday. The stock has a 50-day moving average price of $113.00 and a 200 day moving average price of $137.03. The company has a market cap of $41.05 billion, a P/E ratio of 57.88, a P/E/G ratio of 1.09 and a beta of 1.50. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.96. Ares Management Corporation has a 1 year low of $95.80 and a 1 year high of $195.26.

Ares Management (NYSE:ARES - Get Free Report) last announced its quarterly earnings data on Friday, May 1st. The asset manager reported $1.24 earnings per share (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 return on equity of 22.14% and a net margin of 10.54%.During the same period in the prior year, the company posted $1.09 earnings per share. As a group, analysts expect that Ares Management Corporation will post 6.06 EPS for the current fiscal year.

Ares Management Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th will be paid 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 4.3%. Ares Management's dividend payout ratio (DPR) is 251.16%.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft raised Ares Management from a "hold" rating to a "buy" rating and decreased their target price for the company from $182.00 to $155.00 in a research note on Friday, February 6th. Royal Bank Of Canada reaffirmed an "outperform" rating on shares of Ares Management in a research note on Wednesday, April 29th. TD Cowen decreased their target price on Ares Management from $148.00 to $144.00 and set a "buy" rating for the company in a research note on Monday, May 18th. UBS Group set a $148.00 target price on Ares Management in a research note on Friday, February 20th. Finally, Wall Street Zen cut Ares Management from a "hold" rating to a "sell" rating in a research note on Saturday, February 28th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $162.56.

Ares Management Company 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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