Pictet Asset Management Holding SA Buys 59,279 Shares of Ares Management Corporation $ARES

Pictet Asset Management Holding SA increased its stake in Ares Management Corporation (NYSE:ARES) by 63.9% in the first quarter, Holdings Channel.com reports. The firm owned 151,978 shares of the asset manager’s stock after purchasing an additional 59,279 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Ares Management were worth $16,574,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in ARES. Osbon Capital Management LLC bought 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 shares of Ares Management during the fourth quarter worth about $42,000. Elyxium Wealth LLC bought a new position in shares of Ares Management during the fourth quarter worth about $42,000. Summit Securities Group LLC bought a new position in shares of Ares Management during the fourth quarter worth about $49,000. Finally, AlphaCentric Advisors LLC acquired a new stake in Ares Management in the 4th quarter valued at approximately $62,000. Institutional investors own 50.03% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Barclays upped their price target on Ares Management from $127.00 to $140.00 and gave the stock an “overweight” rating in a research report on Monday, May 4th. The Goldman Sachs Group cut their price objective on shares of Ares Management from $165.00 to $131.00 and set a “buy” rating on the stock in a research report on Tuesday, April 7th. TD Cowen increased their target price 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. Oppenheimer reaffirmed an “outperform” rating and issued a $146.00 target price (down from $147.00) on shares of Ares Management in a research report on Monday, May 4th. Finally, Citizens Jmp lowered their price target on shares of Ares Management from $205.00 to $190.00 and set a “market outperform” rating on the stock in a research note on Wednesday, April 22nd. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $163.12.

Ares Management Price Performance

NYSE:ARES opened at $116.72 on Friday. 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’s 50 day moving average price is $123.03 and its two-hundred day moving average price is $130.51. The firm has a market capitalization of $38.50 billion, a price-to-earnings ratio of 54.29, a P/E/G ratio of 1.00 and a beta of 1.51. Ares Management Corporation has a 12-month low of $95.80 and a 12-month high of $195.26.

Ares Management (NYSE:ARES) last issued its earnings results on Friday, May 1st. The asset manager reported $1.24 EPS for the quarter, missing the consensus estimate 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 prior year, the firm posted $1.09 earnings per share. On average, analysts anticipate that Ares Management Corporation will post 6.05 earnings per share for the current year.

Ares Management Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th were issued a dividend of $1.35 per share. The ex-dividend date of this dividend was Tuesday, June 16th. This represents a $5.40 annualized dividend and a yield of 4.6%. 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.