Pictet Asset Management Holding SA Acquires 59,279 Shares of Ares Management Corporation $ARES

Key Points

• Pictet Asset Management Holding SA increased its stake in Ares Management by 63.9% in the first quarter, buying 59,279 additional shares and bringing its total holding to 151,978 shares worth about $16.6 million.
• Ares Management reported mixed quarterly results, with earnings of $1.24 per share missing estimates while revenue of $1.40 billion beat expectations. The company also posted strong profitability metrics, including a 22.14% return on equity.
• The company recently paid a quarterly dividend of $1.35 per share, equal to an annualized yield of 4.6%, while analysts currently rate the stock a consensus Moderate Buy with a target price of $163.12.

Pictet Asset Management Holding SA grew its holdings in Ares Management Corporation (NYSE:ARES - Free Report) by 63.9% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 151,978 shares of the asset manager's stock after buying an additional 59,279 shares during the quarter. Pictet Asset Management Holding SA's holdings in Ares Management were worth $16,574,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Ares Management by 5.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,344 shares of the asset manager's stock worth $197,000 after acquiring an additional 70 shares during the last quarter. Fulcrum Asset Management LLP increased its position in Ares Management by 1.7% in the 3rd quarter. Fulcrum Asset Management LLP now owns 4,321 shares of the asset manager's stock valued at $691,000 after acquiring an additional 72 shares in the last quarter. Wedbush Securities Inc. raised its stake in shares of Ares Management by 4.2% in the fourth quarter. Wedbush Securities Inc. now owns 2,030 shares of the asset manager's stock worth $328,000 after acquiring an additional 81 shares during the last quarter. U.S. Capital Wealth Advisors LLC raised its stake in shares of Ares Management by 3.2% in the fourth quarter. U.S. Capital Wealth Advisors LLC now owns 2,666 shares of the asset manager's stock worth $431,000 after acquiring an additional 83 shares during the last quarter. Finally, First Manhattan CO. LLC. lifted its position in shares of Ares Management by 0.5% during the fourth quarter. First Manhattan CO. LLC. now owns 17,634 shares of the asset manager's stock worth $2,850,000 after purchasing an additional 89 shares in the last quarter. 50.03% of the stock is owned by institutional investors.

Ares Management Stock Performance

ARES stock opened at $116.72 on Friday. Ares Management Corporation has a 1-year low of $95.80 and a 1-year high of $195.26. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.96. The firm has a market cap of $38.50 billion, a PE ratio of 54.29, a P/E/G ratio of 1.00 and a beta of 1.51. The business's 50-day moving average price is $123.03 and its two-hundred day moving average price is $130.51.

Ares Management (NYSE:ARES - Get Free Report) last announced its quarterly earnings results 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 the consensus estimate of $1.28 billion. Ares Management had a return on equity of 22.14% and a net margin of 10.54%.During the same quarter last year, the company earned $1.09 earnings per share. As a group, research analysts forecast that Ares Management Corporation will post 6.05 earnings per share for the current year.

Ares Management Announces Dividend

The firm also recently announced 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. This represents a $5.40 dividend on an annualized basis and a yield of 4.6%. The ex-dividend date of this dividend was Tuesday, June 16th. Ares Management's dividend payout ratio is presently 251.16%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on ARES shares. The Goldman Sachs Group decreased their price target on shares of Ares Management from $165.00 to $131.00 and set a "buy" rating on the stock in a research note on Tuesday, April 7th. Zacks Research raised Ares Management from a "strong sell" rating to a "hold" rating in a report on Tuesday, May 5th. Oppenheimer reiterated an "outperform" rating and issued a $146.00 price objective (down from $147.00) on shares of Ares Management in a research report on Monday, May 4th. Wall Street Zen raised Ares Management from a "sell" rating to a "hold" rating in a research note on Saturday, June 6th. Finally, Barclays boosted their target price on Ares Management from $127.00 to $140.00 and gave the stock an "overweight" rating in a research report on Monday, May 4th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $163.12.

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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