Ares Management Corporation $ARES Shares Purchased by Fifth Third Bancorp

Fifth Third Bancorp increased its holdings in shares of Ares Management Corporation (NYSE:ARES) by 174.5% in the 1st quarter, HoldingsChannel reports. The firm owned 48,612 shares of the asset manager’s stock after acquiring an additional 30,903 shares during the quarter. Fifth Third Bancorp’s holdings in Ares Management were worth $5,304,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Granite Bay Wealth Management LLC grew its position in Ares Management by 44.5% during the 1st quarter. Granite Bay Wealth Management LLC now owns 44,832 shares of the asset manager’s stock worth $4,903,000 after purchasing an additional 13,805 shares during the period. Candriam S.C.A. increased its stake in Ares Management by 7.6% during the 1st quarter. Candriam S.C.A. now owns 15,419 shares of the asset manager’s stock worth $1,682,000 after buying an additional 1,083 shares in the last quarter. Sequoia Financial Advisors LLC lifted its holdings in Ares Management by 23.7% in the 1st quarter. Sequoia Financial Advisors LLC now owns 7,635 shares of the asset manager’s stock valued at $833,000 after purchasing an additional 1,464 shares in the last quarter. Whipplewood Advisors LLC purchased a new position in shares of Ares Management in the first quarter worth about $660,000. Finally, Resona Asset Management Co. Ltd. lifted its stake in Ares Management by 1.7% in the 1st quarter. Resona Asset Management Co. Ltd. now owns 66,477 shares of the asset manager’s stock worth $7,235,000 after purchasing an additional 1,081 shares in the last quarter. 50.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Citigroup reissued an “outperform” rating on shares of Ares Management in a research report on Thursday, July 9th. The Goldman Sachs Group cut their price objective 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. Morgan Stanley reduced their target price on shares of Ares Management from $178.00 to $163.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 21st. Barclays decreased their target price on shares of Ares Management from $140.00 to $139.00 and set an “overweight” rating on the stock in a report on Thursday, July 9th. Finally, Wall Street Zen cut shares of Ares Management from a “hold” rating to a “sell” rating in a research note on Saturday, July 4th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $159.13.

Ares Management Price Performance

ARES stock opened at $125.44 on Friday. The business has a 50 day moving average price of $123.76 and a 200 day moving average price of $127.11. The stock has a market cap of $41.38 billion, a price-to-earnings ratio of 58.34, a PEG ratio of 1.11 and a beta of 1.51. Ares Management Corporation has a fifty-two week low of $95.80 and a fifty-two 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.

Ares Management (NYSE:ARES) last announced its quarterly 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). Ares Management had a net margin of 10.54% and a return on equity of 22.14%. The company had revenue of $1.40 billion during the quarter, compared to analysts’ expectations of $1.28 billion. During the same quarter in the prior year, the company earned $1.09 earnings per share. Equities research analysts anticipate that Ares Management Corporation will post 6.02 earnings per share for the current fiscal year.

Ares Management Dividend Announcement

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

Ares Management Company 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.