Westfield Capital Management Co. LP Raises Holdings in Ares Management Corporation $ARES

Westfield Capital Management Co. LP boosted its stake in shares of Ares Management Corporation (NYSE:ARES) by 12.0% during the 4th quarter, Holdings Channel.com reports. The firm owned 1,151,200 shares of the asset manager’s stock after acquiring an additional 123,611 shares during the period. Ares Management accounts for approximately 0.8% of Westfield Capital Management Co. LP’s portfolio, making the stock its 23rd biggest position. Westfield Capital Management Co. LP’s holdings in Ares Management were worth $186,068,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the stock. Daiwa Securities Group Inc. increased its holdings in Ares Management by 86.0% during the 4th quarter. Daiwa Securities Group Inc. now owns 34,182 shares of the asset manager’s stock worth $5,525,000 after purchasing an additional 15,804 shares during the period. Cibc World Market Inc. increased its holdings in shares of Ares Management by 227.3% in the 4th quarter. Cibc World Market Inc. now owns 12,152 shares of the asset manager’s stock valued at $1,964,000 after acquiring an additional 8,439 shares during the last quarter. Avestar Capital LLC increased its holdings in shares of Ares Management by 5.0% in the 4th quarter. Avestar Capital LLC now owns 6,207 shares of the asset manager’s stock valued at $1,003,000 after acquiring an additional 296 shares during the last quarter. CIBC Asset Management Inc increased its holdings in shares of Ares Management by 496.2% in the 4th quarter. CIBC Asset Management Inc now owns 48,814 shares of the asset manager’s stock valued at $7,890,000 after acquiring an additional 40,627 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in shares of Ares Management by 48.6% in the 4th quarter. Bank of New York Mellon Corp now owns 1,174,032 shares of the asset manager’s stock valued at $189,759,000 after acquiring an additional 384,148 shares during the last quarter. Hedge funds and other institutional investors own 50.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Morgan Stanley dropped their price objective on Ares Management from $178.00 to $163.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 21st. Barclays increased their price objective on Ares Management from $127.00 to $140.00 and gave the company an “overweight” rating in a report on Monday, May 4th. Raymond James Financial upgraded Ares Management from a “market perform” rating to a “strong-buy” rating and set a $157.00 price objective on the stock in a report on Monday, February 9th. JPMorgan Chase & Co. dropped 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, TD Cowen dropped their price objective on Ares Management from $148.00 to $144.00 and set a “buy” rating on the stock in a report on Monday, May 18th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $162.56.

Ares Management Trading Up 6.0%

NYSE:ARES opened at $130.55 on Friday. The stock’s 50 day moving average price is $117.11 and its 200 day moving average price is $135.45. The company has a market capitalization of $43.06 billion, a PE ratio of 60.72, a P/E/G ratio of 1.08 and a beta of 1.51. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.96. Ares Management Corporation has a 52-week low of $95.80 and a 52-week high of $195.26.

Ares Management (NYSE:ARES) last released its quarterly 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 firm had revenue of $1.40 billion for the quarter, compared to analysts’ expectations 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 prior year, the business earned $1.09 EPS. On average, research analysts anticipate that Ares Management Corporation will post 6.06 EPS for the current year.

Ares Management Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 16th will be paid a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date is Tuesday, June 16th. Ares Management’s dividend payout ratio (DPR) 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.