Picton Mahoney Asset Management Has $9.02 Million Holdings in Ares Management Corporation (NYSE:ARES)

Key Points

• Picton Mahoney Asset Management increased its stake in Ares Management Corporation by 4.0% during the first quarter, holding 61,509 shares valued at approximately $9.02 million.
• Ares Management reported $1.09 earnings per share (EPS) for the quarter, exceeding analysts' estimates of $0.94 and achieving a revenue of $951.96 million.
• The company announced a quarterly dividend of $1.12 per share, equating to an annualized dividend yield of 2.39%.

Picton Mahoney Asset Management increased its holdings in shares of Ares Management Corporation (NYSE:ARES - Free Report) by 4.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 61,509 shares of the asset manager's stock after buying an additional 2,360 shares during the quarter. Picton Mahoney Asset Management's holdings in Ares Management were worth $9,018,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Financial Management Network Inc. raised its stake in shares of Ares Management by 56.4% in the 1st quarter. Financial Management Network Inc. now owns 2,171 shares of the asset manager's stock valued at $318,000 after purchasing an additional 783 shares during the period. Mackenzie Financial Corp raised its stake in shares of Ares Management by 76.5% in the 1st quarter. Mackenzie Financial Corp now owns 109,725 shares of the asset manager's stock valued at $16,087,000 after purchasing an additional 47,571 shares during the period. Sheaff Brock Investment Advisors LLC raised its stake in shares of Ares Management by 202.6% in the 1st quarter. Sheaff Brock Investment Advisors LLC now owns 3,489 shares of the asset manager's stock valued at $512,000 after purchasing an additional 2,336 shares during the period. Nemes Rush Group LLC raised its stake in shares of Ares Management by 48.6% in the 1st quarter. Nemes Rush Group LLC now owns 1,693 shares of the asset manager's stock valued at $248,000 after purchasing an additional 554 shares during the period. Finally, TCW Group Inc. raised its stake in shares of Ares Management by 99.5% in the 1st quarter. TCW Group Inc. now owns 31,765 shares of the asset manager's stock valued at $4,657,000 after purchasing an additional 15,846 shares during the period. Institutional investors and hedge funds own 50.03% of the company's stock.

Ares Management Trading Up 0.6%

Ares Management stock opened at $187.37 on Tuesday. Ares Management Corporation has a 52 week low of $110.63 and a 52 week high of $200.49. The stock has a market capitalization of $61.19 billion, a P/E ratio of 110.22, a PEG ratio of 1.52 and a beta of 1.37. The stock has a 50-day simple moving average of $172.05 and a 200 day simple moving average of $166.43. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.07 and a current ratio of 1.07.

Ares Management (NYSE:ARES - Get Free Report) last issued its quarterly earnings data on Monday, May 5th. The asset manager reported $1.09 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.94 by $0.15. Ares Management had a return on equity of 16.29% and a net margin of 9.73%. The company had revenue of $951.96 million during the quarter, compared to analysts' expectations of $914.00 million. During the same quarter in the previous year, the company posted $0.80 earnings per share. Analysts expect that Ares Management Corporation will post 5.28 earnings per share for the current year.

Ares Management Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 16th were issued a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a dividend yield of 2.39%. The ex-dividend date was Monday, June 16th. Ares Management's dividend payout ratio is presently 263.53%.

Insider Transactions at Ares Management

In other news, Chairman Bennett Rosenthal sold 85,000 shares of the business's stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $168.79, for a total transaction of $14,347,150.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Michael J. Arougheti sold 107,500 shares of the business's stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $161.34, for a total value of $17,344,050.00. Following the sale, the chief executive officer owned 1,400,000 shares of the company's stock, valued at approximately $225,876,000. This represents a 7.13% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 873,145 shares of company stock worth $146,204,353 over the last quarter. Company insiders own 0.52% of the company's stock.

Wall Street Analyst Weigh In

ARES has been the topic of several recent research reports. Citizens Jmp raised Ares Management from a "market perform" rating to an "outperform" rating and set a $165.00 price target on the stock in a research note on Tuesday, April 8th. TD Cowen lowered their target price on Ares Management from $216.00 to $161.00 and set a "buy" rating on the stock in a research report on Wednesday, April 9th. Bank of America lowered their target price on Ares Management from $221.00 to $201.00 and set a "buy" rating on the stock in a research report on Friday, April 4th. Barclays lifted their target price on Ares Management from $182.00 to $200.00 and gave the company an "overweight" rating in a research report on Thursday, July 10th. Finally, Wolfe Research set a $193.00 target price on Ares Management and gave the company an "outperform" rating in a research report on Tuesday, May 6th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $177.50.

Ares Management Company Profile

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.

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