CIBC Asset Management Inc Has $7.89 Million Stock Holdings in Ares Management Corporation $ARES

CIBC Asset Management Inc lifted its holdings in Ares Management Corporation (NYSE:ARES) by 496.2% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 48,814 shares of the asset manager’s stock after purchasing an additional 40,627 shares during the quarter. CIBC Asset Management Inc’s holdings in Ares Management were worth $7,890,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Redmont Wealth Advisors LLC acquired a new position in Ares Management during the 3rd quarter worth approximately $40,000. Atlantic Edge Private Wealth Management LLC acquired a new position in Ares Management during the 4th quarter worth approximately $42,000. Elyxium Wealth LLC acquired a new position in Ares Management during the 4th quarter worth approximately $42,000. Washington Trust Advisors Inc. acquired a new position in Ares Management during the 3rd quarter worth approximately $50,000. Finally, Leonteq Securities AG acquired a new position in Ares Management during the 4th quarter worth approximately $70,000. 50.03% of the stock is currently owned by institutional investors and hedge funds.

Ares Management Stock Down 3.5%

ARES opened at $125.92 on Friday. Ares Management Corporation has a 1-year low of $95.80 and a 1-year high of $195.26. The stock’s fifty day simple moving average is $117.49 and its 200 day simple moving average is $135.38. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.96. The stock has a market cap of $41.53 billion, a PE ratio of 58.57, a price-to-earnings-growth ratio of 1.14 and a beta of 1.51.

Ares Management (NYSE:ARES) last posted its quarterly earnings data on Friday, May 1st. The asset manager reported $1.24 earnings per share for the quarter, missing the consensus estimate of $1.32 by ($0.08). The firm 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 previous year, the business earned $1.09 EPS. As a group, research analysts expect that Ares Management Corporation will post 6.06 earnings per share for the current year.

Ares Management Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th will be given a dividend of $1.35 per share. The ex-dividend date is Tuesday, June 16th. This represents a $5.40 annualized dividend and a yield of 4.3%. Ares Management’s dividend payout ratio (DPR) is presently 251.16%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft raised Ares Management from a “hold” rating to a “buy” rating and reduced their price target for the stock from $182.00 to $155.00 in a research report on Friday, February 6th. Royal Bank Of Canada reiterated an “outperform” rating on shares of Ares Management in a research note on Wednesday, April 29th. Oppenheimer reiterated an “outperform” rating and set a $146.00 price objective (down from $147.00) on shares of Ares Management in a research note on Monday, May 4th. 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 research note on Monday, May 18th. Finally, 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 research note on Monday, February 9th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $162.56.

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.