Assenagon Asset Management S.A. Acquires 54,781 Shares of Ares Management Corporation $ARES

Assenagon Asset Management S.A. lifted its holdings in shares of Ares Management Corporation (NYSE:ARES) by 764.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 61,948 shares of the asset manager’s stock after buying an additional 54,781 shares during the period. Assenagon Asset Management S.A.’s holdings in Ares Management were worth $6,759,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. 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 bought a new position in Ares Management in the fourth quarter valued at approximately $42,000. Elyxium Wealth LLC acquired a new position in shares of Ares Management during the 4th quarter worth approximately $42,000. Summit Securities Group LLC acquired a new position in shares of Ares Management during the 4th quarter worth approximately $49,000. Finally, AlphaCentric Advisors LLC bought a new stake in shares of Ares Management during the 4th quarter worth approximately $62,000. Institutional investors own 50.03% of the company’s stock.

Ares Management Stock Performance

ARES opened at $109.19 on Monday. Ares Management Corporation has a 12-month low of $95.80 and a 12-month high of $195.26. The stock has a market cap of $36.02 billion, a price-to-earnings ratio of 50.79, a PEG ratio of 0.96 and a beta of 1.51. The business has a 50 day moving average of $123.48 and a 200-day moving average of $132.31. 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 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). 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 the consensus estimate of $1.28 billion. During the same quarter in the prior year, the firm posted $1.09 earnings per share. On average, equities research analysts expect that Ares Management Corporation will post 6.06 earnings per share for the current year.

Ares Management Announces Dividend

The business 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. This represents a $5.40 dividend on an annualized basis and a yield of 4.9%. The ex-dividend date of this dividend is Tuesday, June 16th. Ares Management’s payout ratio is 251.16%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Zacks Research raised Ares Management from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 5th. The Goldman Sachs Group lowered their target price on shares of Ares Management from $165.00 to $131.00 and set a “buy” rating on the stock in a report on Tuesday, April 7th. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Ares Management in a research report on Wednesday, April 29th. Weiss Ratings reiterated a “hold (c)” rating on shares of Ares Management in a research note on Tuesday, May 26th. Finally, BMO Capital Markets decreased their price objective on shares of Ares Management from $140.00 to $112.00 and set a “market perform” rating for the company in a research report on Tuesday, March 24th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $163.12.

About Ares Management

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.