Corient Private Wealth LLC Sells 203,115 Shares of Ares Management Corporation $ARES

Corient Private Wealth LLC trimmed its holdings in shares of Ares Management Corporation (NYSE:ARES) by 24.4% during the 4th quarter, Holdings Channel reports. The fund owned 628,120 shares of the asset manager’s stock after selling 203,115 shares during the period. Corient Private Wealth LLC’s holdings in Ares Management were worth $102,031,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. Atlantic Edge Private Wealth Management LLC bought a new position in shares of Ares Management during the 4th quarter worth approximately $42,000. Elyxium Wealth LLC purchased a new position in shares of Ares Management in the fourth quarter worth about $42,000. Summit Securities Group LLC purchased a new position in Ares Management during the 4th quarter worth approximately $49,000. Washington Trust Advisors Inc. acquired a new stake in Ares Management during the 3rd quarter worth about $50,000. Finally, AlphaCentric Advisors LLC purchased a new position in Ares Management during the fourth quarter valued at approximately $62,000. Hedge funds and other institutional investors own 50.03% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Morgan Stanley lowered their target price on shares of Ares Management from $178.00 to $163.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 21st. Oppenheimer reissued 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. Wall Street Zen upgraded Ares Management from a “sell” rating to a “hold” rating in a research report on Saturday, June 6th. Weiss Ratings reiterated a “hold (c)” rating on shares of Ares Management in a report on Tuesday, May 26th. Finally, TD Cowen lowered their price objective on shares of Ares Management from $148.00 to $144.00 and set a “buy” rating for the company in a research report on Monday, May 18th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $162.56.

Ares Management Trading Up 0.1%

NYSE:ARES opened at $129.41 on Friday. The stock’s 50 day moving average price is $122.70 and its 200 day moving average price is $134.13. The company has a market capitalization of $42.69 billion, a PE ratio of 60.19, a P/E/G ratio of 1.13 and a beta of 1.51. Ares Management Corporation has a 52-week low of $95.80 and a 52-week high of $195.26. 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 released its earnings results 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 company had revenue of $1.40 billion during the quarter, compared to analyst estimates 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 in the previous year, the firm posted $1.09 EPS. On average, research analysts anticipate that Ares Management Corporation will post 6.06 EPS for the current year.

Ares Management Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th will be given a $1.35 dividend. The ex-dividend date is Tuesday, June 16th. This represents a $5.40 annualized dividend and a dividend yield of 4.2%. Ares Management’s dividend payout ratio is currently 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.