Bank of New York Mellon Corp Sells 30,709 Shares of Ares Management Corporation $ARES

Bank of New York Mellon Corp reduced its holdings in shares of Ares Management Corporation (NYSE:ARES) by 2.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,143,323 shares of the asset manager’s stock after selling 30,709 shares during the period. Bank of New York Mellon Corp owned 0.35% of Ares Management worth $124,737,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Ares Management by 20.2% in the 4th quarter. Vanguard Group Inc. now owns 26,050,425 shares of the asset manager’s stock valued at $4,210,530,000 after acquiring an additional 4,373,955 shares in the last quarter. Norges Bank bought a new stake in Ares Management in the 4th quarter valued at about $396,165,000. Geode Capital Management LLC raised its stake in Ares Management by 55.7% during the 4th quarter. Geode Capital Management LLC now owns 5,489,004 shares of the asset manager’s stock worth $883,716,000 after buying an additional 1,963,460 shares during the period. Massachusetts Financial Services Co. MA raised its stake in Ares Management by 26.3% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 5,705,599 shares of the asset manager’s stock worth $922,196,000 after buying an additional 1,187,174 shares during the period. Finally, River Road Asset Management LLC boosted its holdings in Ares Management by 40,652.1% in the fourth quarter. River Road Asset Management LLC now owns 807,300 shares of the asset manager’s stock worth $130,484,000 after acquiring an additional 805,319 shares in the last quarter. 50.03% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on ARES shares. Citigroup reissued an “outperform” rating on shares of Ares Management in a research report on Thursday, July 9th. Citizens Jmp lowered their price objective on shares of Ares Management from $190.00 to $160.00 and set a “market outperform” rating on the stock in a report on Thursday, July 9th. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Ares Management in a research note on Wednesday, April 29th. Wall Street Zen cut shares of Ares Management from a “hold” rating to a “sell” rating in a report on Saturday, July 4th. Finally, The Goldman Sachs Group decreased their target price on shares of Ares Management from $165.00 to $131.00 and set a “buy” rating for the company in a research report on Tuesday, April 7th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and five have given a Hold rating to the company. According to MarketBeat, Ares Management has a consensus rating of “Moderate Buy” and a consensus target price of $159.13.

Ares Management Stock Performance

Shares of Ares Management stock opened at $125.44 on Monday. The business’s fifty day simple moving average is $123.76 and its 200 day simple moving average is $126.82. 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 Corporation has a 12 month low of $95.80 and a 12 month high of $195.26. The firm has a market capitalization of $41.38 billion, a P/E ratio of 58.34, a price-to-earnings-growth ratio of 1.12 and a beta of 1.51.

Ares Management (NYSE:ARES) last released its earnings results on Friday, May 1st. The asset manager reported $1.24 EPS for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.08). The business had revenue of $1.40 billion for 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 in the previous year, the firm earned $1.09 earnings per share. As a group, analysts anticipate that Ares Management Corporation will post 5.99 EPS for the current year.

Ares Management Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th were given a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date of this dividend was Tuesday, June 16th. Ares Management’s dividend payout ratio is currently 251.16%.

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.