Assetmark Inc. Trims Stake in Ares Management Corporation $ARES

Assetmark Inc. cut its position in shares of Ares Management Corporation (NYSE:ARES) by 30.2% in the first quarter, HoldingsChannel reports. The firm owned 36,715 shares of the asset manager’s stock after selling 15,893 shares during the period. Assetmark Inc.’s holdings in Ares Management were worth $4,006,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Ares Management by 20.2% during the fourth quarter. Vanguard Group Inc. now owns 26,050,425 shares of the asset manager’s stock valued at $4,210,530,000 after buying an additional 4,373,955 shares during the period. Massachusetts Financial Services Co. MA lifted its stake in Ares Management by 26.3% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 5,705,599 shares of the asset manager’s stock worth $922,196,000 after acquiring an additional 1,187,174 shares during the period. Geode Capital Management LLC lifted its stake in Ares Management by 55.7% in the fourth quarter. Geode Capital Management LLC now owns 5,489,004 shares of the asset manager’s stock worth $883,716,000 after acquiring an additional 1,963,460 shares during the period. Capital International Investors grew its holdings in Ares Management by 0.3% during the 4th quarter. Capital International Investors now owns 4,257,710 shares of the asset manager’s stock worth $688,176,000 after acquiring an additional 14,516 shares in the last quarter. Finally, Principal Financial Group Inc. grew its holdings in Ares Management by 4.4% during the 1st quarter. Principal Financial Group Inc. now owns 4,009,291 shares of the asset manager’s stock worth $437,417,000 after acquiring an additional 169,598 shares in the last quarter. 50.03% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ARES has been the subject of several recent research reports. TD Cowen boosted their price target on shares of Ares Management from $144.00 to $153.00 and gave the company a “buy” rating in a report on Tuesday, June 23rd. Royal Bank Of Canada reiterated an “outperform” rating on shares of Ares Management in a research note on Wednesday, April 29th. Wall Street Zen lowered shares of Ares Management from a “hold” rating to a “sell” rating in a report on Saturday, July 4th. Weiss Ratings reissued a “hold (c)” rating on shares of Ares Management in a research note on Tuesday, May 26th. Finally, Citizens Jmp lowered their target price on Ares Management from $190.00 to $160.00 and set a “market outperform” rating for the company in a report on Thursday, July 9th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, Ares Management presently has a consensus rating of “Moderate Buy” and a consensus price target of $158.93.

Ares Management Stock Down 0.8%

NYSE:ARES opened at $119.76 on Thursday. Ares Management Corporation has a fifty-two week low of $95.80 and a fifty-two week high of $195.26. The stock has a market capitalization of $39.50 billion, a P/E ratio of 55.70, a P/E/G ratio of 1.07 and a beta of 1.51. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.23 and a current ratio of 0.23. The company’s 50-day simple moving average is $123.57 and its 200-day simple moving average is $125.94.

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

Ares Management Announces Dividend

The company also recently announced 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 annualized dividend and a yield of 4.5%. The ex-dividend date was Tuesday, June 16th. Ares Management’s dividend payout ratio (DPR) is 251.16%.

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.