Ares Management Corporation $ARES Shares Purchased by Bank of Nova Scotia

Bank of Nova Scotia grew its stake in shares of Ares Management Corporation (NYSE:ARES) by 156.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 79,469 shares of the asset manager’s stock after acquiring an additional 48,438 shares during the quarter. Bank of Nova Scotia’s holdings in Ares Management were worth $8,671,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Osbon Capital Management LLC acquired a new stake in shares of Ares Management in the fourth quarter valued at about $32,000. Atlantic Edge Private Wealth Management LLC acquired a new position in Ares Management during the 4th quarter valued at about $42,000. Elyxium Wealth LLC bought a new stake in shares of Ares Management during the fourth quarter valued at about $42,000. Summit Securities Group LLC bought a new stake in shares of Ares Management in the 4th quarter worth $49,000. Finally, Cassaday & Co Wealth Management LLC acquired a new position in Ares Management in the first quarter worth approximately $55,000. 50.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently commented on ARES. Citizens Jmp decreased their target price on Ares Management from $190.00 to $160.00 and set a “market outperform” rating for the company in a research report on Thursday, July 9th. TD Cowen upped their price objective on shares of Ares Management from $144.00 to $153.00 and gave the stock a “buy” rating in a report on Tuesday, June 23rd. Royal Bank Of Canada reiterated an “outperform” rating on shares of Ares Management in a report on Wednesday, April 29th. JPMorgan Chase & Co. decreased their price objective on Ares Management from $188.00 to $144.00 and set an “overweight” rating on the stock in a report on Tuesday, April 28th. Finally, Citigroup reissued an “outperform” rating on shares of Ares Management in a report on Thursday, July 9th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $158.93.

Ares Management Trading Down 0.1%

ARES opened at $126.37 on Monday. Ares Management Corporation has a twelve month low of $95.80 and a twelve month high of $195.26. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.23 and a current ratio of 0.23. The firm has a market cap of $41.68 billion, a PE ratio of 58.78, a price-to-earnings-growth ratio of 1.13 and a beta of 1.51. The firm’s fifty day moving average is $123.48 and its two-hundred day moving average is $125.30.

Ares Management (NYSE:ARES) last released its quarterly 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). Ares Management had a return on equity of 22.14% and a net margin of 10.54%.The business had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.28 billion. During the same period in the prior year, the business earned $1.09 EPS. Equities research analysts anticipate that Ares Management Corporation will post 5.98 EPS for the current year.

Ares Management Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders 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 dividend yield of 4.3%. The ex-dividend date was Tuesday, June 16th. Ares Management’s dividend payout ratio is currently 251.16%.

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.