Bank of Nova Scotia Has $8.67 Million Position in Ares Management Corporation $ARES

Bank of Nova Scotia raised its position in Ares Management Corporation (NYSE:ARES) by 156.1% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 79,469 shares of the asset manager’s stock after buying an additional 48,438 shares during the quarter. Bank of Nova Scotia’s holdings in Ares Management were worth $8,671,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Quilter Plc boosted its position in Ares Management by 5.6% during the 4th quarter. Quilter Plc now owns 704,069 shares of the asset manager’s stock worth $113,799,000 after buying an additional 37,366 shares during the period. New York Life Investment Management LLC grew its holdings in 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 stake in Ares Management by 25.6% during the 4th 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 during the period. Vanguard Group Inc. grew its position in Ares Management by 20.2% in the 4th quarter. Vanguard Group Inc. now owns 26,050,425 shares of the asset manager’s stock valued at $4,210,530,000 after purchasing an additional 4,373,955 shares during the period. Finally, M&T Bank Corp raised its holdings in shares of Ares Management by 169.3% in the 4th quarter. M&T Bank Corp now owns 26,526 shares of the asset manager’s stock worth $4,287,000 after acquiring an additional 16,677 shares during the last quarter. 50.03% of the stock is owned by institutional investors.

Ares Management Stock Down 0.1%

Shares of ARES stock opened at $126.37 on Monday. The company has a 50 day simple moving average of $123.48 and a two-hundred day simple moving average of $125.30. 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. The stock has a market cap of $41.68 billion, a P/E ratio of 58.78, a P/E/G ratio of 1.13 and a beta of 1.51.

Ares Management (NYSE:ARES) last announced 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). Ares Management had a return on equity of 22.14% and a net margin of 10.54%.The firm had revenue of $1.40 billion during the quarter, compared to analysts’ expectations of $1.28 billion. During the same period last year, the company earned $1.09 earnings per share. On average, research analysts expect that Ares Management Corporation will post 5.98 earnings per share for the current year.

Ares Management Announces Dividend

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

Analyst Ratings Changes

Several research analysts recently weighed in on ARES shares. Barclays cut their price target 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. Zacks Research raised Ares Management from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 5th. Oppenheimer lowered their price target on Ares Management from $146.00 to $140.00 and set an “outperform” rating on the stock in a research report on Friday, July 17th. The Goldman Sachs Group dropped their target price on Ares Management from $165.00 to $131.00 and set a “buy” rating for the company in a report on Tuesday, April 7th. Finally, BMO Capital Markets upped their price target on Ares Management from $125.00 to $128.00 and gave the company a “market perform” rating in a research report on Monday, July 13th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $158.93.

Ares Management 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.