Bank of New York Mellon Corp Sells 30,709 Shares of Ares Management Corporation $ARES

Bank of New York Mellon Corp lowered its stake in shares of Ares Management Corporation (NYSE:ARES) by 2.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,143,323 shares of the asset manager’s stock after selling 30,709 shares during the period. Bank of New York Mellon Corp’s holdings in Ares Management were worth $124,737,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Quilter Plc lifted its stake in Ares Management by 5.6% in the 4th quarter. Quilter Plc now owns 704,069 shares of the asset manager’s stock worth $113,799,000 after purchasing an additional 37,366 shares in the last quarter. New York Life Investment Management LLC increased its holdings in shares of Ares Management by 1,033.1% in the fourth quarter. New York Life Investment Management LLC now owns 28,272 shares of the asset manager’s stock worth $4,570,000 after purchasing an additional 25,777 shares during the period. Osprey Private Wealth LLC raised its position in shares of Ares Management by 25.6% in the fourth quarter. Osprey Private Wealth LLC now owns 64,530 shares of the asset manager’s stock worth $10,430,000 after buying an additional 13,165 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Ares Management by 20.2% in the fourth quarter. Vanguard Group Inc. now owns 26,050,425 shares of the asset manager’s stock worth $4,210,530,000 after buying an additional 4,373,955 shares in the last quarter. Finally, M&T Bank Corp grew its position in Ares Management by 169.3% during the fourth quarter. M&T Bank Corp now owns 26,526 shares of the asset manager’s stock worth $4,287,000 after buying an additional 16,677 shares in the last quarter. 50.03% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

ARES has been the topic of a number of research analyst reports. Wall Street Zen lowered Ares Management from a “hold” rating to a “sell” rating in a research note on Saturday, July 4th. Barclays dropped their price target on Ares Management from $140.00 to $139.00 and set an “overweight” rating for the company in a research report on Thursday, July 9th. Morgan Stanley cut their price objective on Ares Management from $178.00 to $163.00 and set an “equal weight” rating for the company in a report on Tuesday, April 21st. Royal Bank Of Canada restated an “outperform” rating on shares of Ares Management in a research report on Wednesday, April 29th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Ares Management from $188.00 to $144.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 28th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, Ares Management has an average rating of “Moderate Buy” and an average target price of $159.13.

Ares Management Stock Down 0.2%

Shares of NYSE:ARES opened at $125.44 on Monday. The stock has a market capitalization of $41.38 billion, a P/E ratio of 58.34, a price-to-earnings-growth ratio of 1.12 and a beta of 1.51. The stock’s 50-day moving average price is $123.76 and its 200-day moving average price is $126.82. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.96. Ares Management Corporation has a 12-month low of $95.80 and a 12-month high of $195.26.

Ares Management (NYSE:ARES) last released its earnings results on Friday, May 1st. The asset manager reported $1.24 earnings per share for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.08). The company had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.28 billion. Ares Management had a net margin of 10.54% and a return on equity of 22.14%. During the same period last year, the firm posted $1.09 EPS. On average, equities analysts anticipate that Ares Management Corporation will post 5.99 earnings per share for the current year.

Ares Management Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th were paid a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date of this dividend was Tuesday, June 16th. 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.