Envestnet Portfolio Solutions Inc. trimmed its position in shares of Ares Management Corporation (NYSE:ARES - Free Report) by 24.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 28,858 shares of the asset manager's stock after selling 9,521 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in Ares Management were worth $4,231,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also bought and sold shares of ARES. Vanguard Group Inc. boosted its holdings in shares of Ares Management by 5.1% in the fourth quarter. Vanguard Group Inc. now owns 18,807,718 shares of the asset manager's stock worth $3,329,530,000 after acquiring an additional 907,757 shares during the period. Capital World Investors boosted its holdings in shares of Ares Management by 2.1% in the fourth quarter. Capital World Investors now owns 10,753,779 shares of the asset manager's stock worth $1,903,741,000 after acquiring an additional 223,919 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Ares Management by 0.4% in the fourth quarter. JPMorgan Chase & Co. now owns 8,277,879 shares of the asset manager's stock worth $1,465,433,000 after acquiring an additional 33,700 shares during the period. FMR LLC boosted its holdings in shares of Ares Management by 12.8% in the fourth quarter. FMR LLC now owns 7,109,070 shares of the asset manager's stock worth $1,258,519,000 after acquiring an additional 807,361 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its holdings in shares of Ares Management by 1.3% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 5,126,442 shares of the asset manager's stock worth $907,534,000 after acquiring an additional 66,671 shares during the period. 50.03% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
ARES has been the subject of a number of analyst reports. JMP Securities raised their price target on Ares Management from $165.00 to $185.00 and gave the stock a "market outperform" rating in a report on Thursday, May 8th. Wells Fargo & Company raised their price target on Ares Management from $182.00 to $189.00 and gave the stock an "overweight" rating in a report on Friday, May 23rd. Citizens Jmp raised Ares Management from a "market perform" rating to an "outperform" rating and set a $165.00 price objective for the company in a research note on Tuesday, April 8th. The Goldman Sachs Group dropped their price objective on Ares Management from $188.00 to $166.00 and set a "buy" rating for the company in a research note on Thursday, April 3rd. Finally, Barclays lifted their price objective on Ares Management from $142.00 to $182.00 and gave the company an "overweight" rating in a research note on Tuesday, May 6th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, Ares Management presently has a consensus rating of "Moderate Buy" and a consensus price target of $174.94.
View Our Latest Analysis on Ares Management
Ares Management Price Performance
NYSE ARES traded down $0.45 during trading hours on Monday, reaching $165.31. 1,119,446 shares of the stock traded hands, compared to its average volume of 1,425,461. The stock has a 50 day simple moving average of $160.75 and a two-hundred day simple moving average of $166.71. Ares Management Corporation has a 1 year low of $110.63 and a 1 year high of $200.49. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.07 and a quick ratio of 1.07. The company has a market cap of $53.99 billion, a price-to-earnings ratio of 38.91, a price-to-earnings-growth ratio of 1.30 and a beta of 1.38.
Ares Management (NYSE:ARES - Get Free Report) last released its quarterly earnings results on Monday, May 5th. The asset manager reported $1.09 earnings per share for the quarter, beating analysts' consensus estimates of $0.94 by $0.15. The business had revenue of $951.96 million for the quarter, compared to the consensus estimate of $914.00 million. Ares Management had a return on equity of 16.29% and a net margin of 9.73%. During the same quarter last year, the business posted $0.80 earnings per share. On average, analysts predict that Ares Management Corporation will post 5.28 EPS for the current fiscal year.
Ares Management Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be issued a $1.12 dividend. The ex-dividend date of this dividend is Monday, June 16th. This represents a $4.48 annualized dividend and a dividend yield of 2.71%. Ares Management's dividend payout ratio is currently 263.53%.
Insider Transactions at Ares Management
In related news, Chairman Bennett Rosenthal sold 40,000 shares of the business's stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $169.37, for a total transaction of $6,774,800.00. Following the transaction, the chairman now owns 85,000 shares in the company, valued at $14,396,450. The trade was a 32.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider David B. Kaplan sold 62,500 shares of the company's stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $169.36, for a total value of $10,585,000.00. Following the transaction, the insider now directly owns 62,500 shares of the company's stock, valued at $10,585,000. The trade was a 50.00% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 873,145 shares of company stock worth $146,204,353. Company insiders own 0.52% of the company's stock.
About Ares Management
(
Free Report)
Ares Management Corporation operates as an alternative asset manager in the United States, Europe, and Asia. The company's Tradable Credit Group segment manages various types of investment funds, such as commingled and separately managed accounts for institutional investors, and publicly traded vehicles and sub-advised funds for retail investors in the tradable and non-investment grade corporate credit markets.
Featured Articles
Before you consider Ares Management, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Ares Management wasn't on the list.
While Ares Management currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
