BI Asset Management Fondsmaeglerselskab A S Cuts Position in Ares Management Corporation $ARES

Key Points

• BI Asset Management sharply cut its stake in Ares Management by 96.4% in the first quarter, selling 42,508 shares and leaving it with 1,566 shares worth about $171,000.
• Ares Management reported mixed quarterly results: earnings of $1.24 per share missed estimates, while revenue of $1.40 billion topped analyst expectations.
• The company declared a quarterly dividend of $1.35 per share, equal to an annualized yield of about 4.8%, while analysts currently hold a Moderate Buy consensus with a $163.12 price target.

BI Asset Management Fondsmaeglerselskab A S decreased its holdings in Ares Management Corporation (NYSE:ARES - Free Report) by 96.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,566 shares of the asset manager's stock after selling 42,508 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S's holdings in Ares Management were worth $171,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of ARES. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in 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 purchasing an additional 70 shares in the last quarter. Fulcrum Asset Management LLP increased its stake in shares of Ares Management by 1.7% during the third quarter. Fulcrum Asset Management LLP now owns 4,321 shares of the asset manager's stock worth $691,000 after purchasing an additional 72 shares in the last quarter. Wedbush Securities Inc. raised its position 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 purchasing 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 worth $431,000 after purchasing an additional 83 shares during the last quarter. Finally, First Manhattan CO. LLC. lifted its stake in Ares Management by 0.5% in 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 in the last quarter. Hedge funds and other institutional investors own 50.03% of the company's stock.

Ares Management Price Performance

Ares Management stock opened at $112.48 on Friday. Ares Management Corporation has a 12-month low of $95.80 and a 12-month high of $195.26. The stock has a market cap of $37.10 billion, a P/E ratio of 52.32, a PEG ratio of 1.00 and a beta of 1.51. The company has a 50-day moving average price of $123.68 and a 200 day moving average price of $132.70. 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 (NYSE:ARES - Get Free Report) last posted its earnings results on Friday, May 1st. The asset manager reported $1.24 earnings per share for the quarter, missing the consensus estimate 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 during the quarter, compared to analyst estimates of $1.28 billion. During the same quarter in the previous year, the firm earned $1.09 earnings per share. Sell-side analysts anticipate that Ares Management Corporation will post 6.06 earnings per share for the current year.

Ares Management Announces Dividend

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 given a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 4.8%. The ex-dividend date of this dividend is Tuesday, June 16th. Ares Management's payout ratio is presently 251.16%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Wall Street Zen upgraded Ares Management from a "sell" rating to a "hold" rating in a research report on Saturday, June 6th. Citizens Jmp reduced their price objective on 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. TD Cowen raised their price objective on Ares Management from $144.00 to $153.00 and gave the company a "buy" rating in a report on Tuesday. BMO Capital Markets dropped their target price on shares of Ares Management from $140.00 to $112.00 and set a "market perform" rating for the company in a report on Tuesday, March 24th. Finally, JPMorgan Chase & Co. reduced their target price 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, thirteen have given a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, Ares Management has an average rating of "Moderate Buy" and a consensus price target of $163.12.

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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