Fifth Third Bancorp Grows Position in Ares Management Corporation $ARES

Fifth Third Bancorp grew its position in Ares Management Corporation (NYSE:ARES) by 174.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 48,612 shares of the asset manager’s stock after acquiring an additional 30,903 shares during the quarter. Fifth Third Bancorp’s holdings in Ares Management were worth $5,304,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the company. Osbon Capital Management LLC bought a new stake in Ares Management in the fourth quarter worth $32,000. Atlantic Edge Private Wealth Management LLC bought a new position in Ares Management during the fourth quarter valued at $42,000. Elyxium Wealth LLC purchased a new position in Ares Management in the fourth quarter worth about $42,000. Summit Securities Group LLC purchased a new position in Ares Management in the fourth quarter worth about $49,000. Finally, AlphaCentric Advisors LLC bought a new stake in Ares Management during the fourth quarter worth approximately $62,000. 50.03% of the stock is owned by hedge funds and other institutional investors.

Ares Management Price Performance

Shares of ARES stock opened at $125.44 on Friday. Ares Management Corporation has a fifty-two week low of $95.80 and a fifty-two week high of $195.26. The firm has a market capitalization of $41.38 billion, a price-to-earnings ratio of 58.34, a PEG ratio of 1.11 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 stock’s 50-day simple moving average is $123.76 and its 200-day simple moving average is $127.11.

Ares Management (NYSE:ARES) last announced its quarterly earnings data 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 net margin of 10.54% and a return on equity of 22.14%. The company had revenue of $1.40 billion during the quarter, compared to analysts’ expectations of $1.28 billion. During the same period in the previous year, the business earned $1.09 earnings per share. As a group, equities analysts forecast that Ares Management Corporation will post 6.02 earnings per share for the current fiscal year.

Ares Management Announces Dividend

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

Analyst Ratings Changes

A number of brokerages have issued reports on ARES. The Goldman Sachs Group decreased their price objective on Ares Management from $165.00 to $131.00 and set a “buy” rating on the stock in a research report on Tuesday, April 7th. BMO Capital Markets lifted their target price on Ares Management from $125.00 to $128.00 and gave the stock a “market perform” rating in a report on Monday, July 13th. JPMorgan Chase & Co. cut their target price on Ares Management from $188.00 to $144.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 28th. Weiss Ratings restated a “hold (c)” rating on shares of Ares Management in a report on Tuesday, May 26th. Finally, Morgan Stanley lowered their price target on Ares Management from $178.00 to $163.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 21st. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, Ares Management has an average rating of “Moderate Buy” and an average price target of $159.13.

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.