TD Waterhouse Canada Inc. Acquires 9,364 Shares of Ares Management Corporation $ARES

Key Points

• TD Waterhouse Canada increased its Ares Management stake by 744.9% in the second quarter, purchasing 9,364 additional shares for a total holding worth approximately $1.21 million. Institutional investors collectively own 50.03% of Ares stock.
• Ares reported quarterly EPS of $1.29, narrowly beating estimates, while revenue reached $1.43 billion and rose 5.8% year over year. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $160.47.
• Ares announced a quarterly dividend of $1.35 per share, equivalent to $5.40 annually and a 3.9% yield; the dividend is payable September 30 to shareholders of record on September 16.

TD Waterhouse Canada Inc. increased its stake in shares of Ares Management Corporation (NYSE:ARES - Free Report) by 744.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,621 shares of the asset manager's stock after buying an additional 9,364 shares during the period. TD Waterhouse Canada Inc.'s holdings in Ares Management were worth $1,206,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Triumph Capital Management lifted its position in shares of Ares Management by 127.3% during the second quarter. Triumph Capital Management now owns 250 shares of the asset manager's stock worth $28,000 after purchasing an additional 140 shares in the last quarter. Osbon Capital Management LLC acquired a new stake in shares of Ares Management in the fourth quarter valued at approximately $32,000. Elyxium Wealth LLC acquired a new stake in shares of Ares Management in the fourth quarter valued at approximately $42,000. Summit Securities Group LLC bought a new position in Ares Management in the 4th quarter worth approximately $49,000. Finally, Western Wealth Management LLC bought a new position in Ares Management in the 1st quarter worth approximately $50,000. Institutional investors own 50.03% of the company's stock.

Analyst Upgrades and Downgrades

ARES has been the topic of a number of recent research reports. Citizens Jmp decreased their price objective on Ares Management from $190.00 to $160.00 and set a "market outperform" rating on the stock in a research report on Thursday, July 9th. BMO Capital Markets boosted their target price on Ares Management from $128.00 to $134.00 and gave the stock a "market perform" rating in a research report on Monday, August 3rd. Wall Street Zen lowered Ares Management from a "hold" rating to a "sell" rating in a research note on Saturday, July 4th. Weiss Ratings reiterated a "hold (c)" rating on shares of Ares Management in a report on Friday, August 21st. Finally, Citigroup reiterated a "market outperform" rating on shares of Ares Management in a research report on Monday, August 3rd. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $160.47.

Ares Management Stock Performance

Shares of Ares Management stock opened at $138.35 on Wednesday. The firm has a fifty day moving average of $132.39 and a two-hundred day moving average of $122.36. The stock has a market capitalization of $45.70 billion, a price-to-earnings ratio of 63.46, a PEG ratio of 1.21 and a beta of 1.49. Ares Management Corporation has a 52 week low of $95.80 and a 52 week high of $186.85. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.26 and a current ratio of 0.26.

Ares Management (NYSE:ARES - Get Free Report) last posted its quarterly earnings results on Friday, July 31st. The asset manager reported $1.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.28 by $0.01. The business had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.27 billion. Ares Management had a return on equity of 25.42% and a net margin of 10.63%.The firm's revenue was up 5.8% on a year-over-year basis. During the same period last year, the company earned $1.03 EPS. As a group, equities research analysts predict that Ares Management Corporation will post 5.94 EPS for the current year.

Ares Management Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 16th will be given a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 3.9%. The ex-dividend date is Wednesday, September 16th. Ares Management's payout ratio is presently 247.71%.

About Ares Management

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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