Assetmark Inc. Decreases Holdings in Ares Management Corporation $ARES

Assetmark Inc. decreased its holdings in Ares Management Corporation (NYSE:ARES) by 30.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 36,715 shares of the asset manager’s stock after selling 15,893 shares during the period. Assetmark Inc.’s holdings in Ares Management were worth $4,006,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings 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 worth $4,210,530,000 after purchasing an additional 4,373,955 shares during the period. Norges Bank bought a new position in shares of Ares Management during the 4th quarter valued at approximately $396,165,000. Geode Capital Management LLC raised its holdings 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 valued at $883,716,000 after buying an additional 1,963,460 shares during the period. Massachusetts Financial Services Co. MA raised its holdings 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 valued at $922,196,000 after buying an additional 1,187,174 shares during the period. Finally, River Road Asset Management LLC lifted its position 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 buying an additional 805,319 shares during the last quarter. Hedge funds and other institutional investors own 50.03% of the company’s stock.

Ares Management Price Performance

ARES opened at $119.76 on Thursday. The business has a fifty day moving average of $123.57 and a 200 day moving average of $125.94. Ares Management Corporation has a 52-week low of $95.80 and a 52-week high of $195.26. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.96. The stock has a market cap of $39.50 billion, a P/E ratio of 55.70, a PEG ratio of 1.07 and a beta of 1.51.

Ares Management (NYSE:ARES) last issued its earnings results on Friday, May 1st. The asset manager reported $1.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.08). The company had revenue of $1.40 billion for the quarter, compared to analysts’ expectations of $1.28 billion. Ares Management had a net margin of 10.54% and a return on equity of 22.14%. During the same period in the prior year, the firm posted $1.09 earnings per share. As a group, sell-side 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. Shareholders of record on Tuesday, June 16th were paid a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date was Tuesday, June 16th. Ares Management’s dividend payout ratio is currently 251.16%.

Wall Street Analyst Weigh In

Several research analysts have commented on ARES shares. Keefe, Bruyette & Woods raised shares of Ares Management to a “hold” rating in a research note on Monday. Royal Bank Of Canada reissued an “outperform” rating on shares of Ares Management in a research note on Wednesday, April 29th. JPMorgan Chase & Co. lowered their target price on shares of Ares Management from $188.00 to $144.00 and set an “overweight” rating for the company in a report on Tuesday, April 28th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Ares Management in a research note on Tuesday, May 26th. Finally, BMO Capital Markets upped their price target on shares of Ares Management from $125.00 to $128.00 and gave the company a “market perform” rating in a report on Monday, July 13th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, Ares Management currently has an average rating of “Moderate Buy” and an average target price of $158.93.

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.