PNC Financial Services Group Inc. Has $5.42 Million Stake in Ares Management Corporation $ARES

PNC Financial Services Group Inc. reduced its stake in shares of Ares Management Corporation (NYSE:ARES) by 53.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,527 shares of the asset manager’s stock after selling 39,147 shares during the period. PNC Financial Services Group Inc.’s holdings in Ares Management were worth $5,419,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Redmont Wealth Advisors LLC bought a new position in Ares Management during the third quarter valued at about $40,000. Atlantic Edge Private Wealth Management LLC bought a new position in shares of Ares Management in the 4th quarter valued at approximately $42,000. Elyxium Wealth LLC bought a new position in shares of Ares Management in the 4th quarter valued at approximately $42,000. Washington Trust Advisors Inc. bought a new position in shares of Ares Management in the 3rd quarter valued at approximately $50,000. Finally, Covestor Ltd raised its stake in shares of Ares Management by 182.6% in the 3rd quarter. Covestor Ltd now owns 421 shares of the asset manager’s stock valued at $67,000 after acquiring an additional 272 shares in the last quarter. 50.03% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. The Goldman Sachs Group cut their price objective on Ares Management from $165.00 to $131.00 and set a “buy” rating on the stock in a research note on Tuesday, April 7th. Royal Bank Of Canada reissued an “outperform” rating on shares of Ares Management in a research note on Wednesday, April 29th. Barclays raised their price objective on Ares Management from $127.00 to $140.00 and gave the company an “overweight” rating in a research note on Monday, May 4th. UBS Group set a $148.00 price objective on Ares Management in a research note on Friday, February 20th. Finally, Wall Street Zen downgraded Ares Management from a “hold” rating to a “sell” rating in a research note on Saturday, February 28th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $162.56.

Ares Management Stock Performance

ARES opened at $124.45 on Monday. The firm has a market capitalization of $41.05 billion, a P/E ratio of 57.88, a price-to-earnings-growth ratio of 1.09 and a beta of 1.50. The stock’s 50 day moving average price is $113.00 and its two-hundred day moving average price is $137.03. 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 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 (EPS) for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.08). The business 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 last year, the business earned $1.09 EPS. On average, equities analysts forecast that Ares Management Corporation will post 6.06 earnings per share for the current year.

Ares Management Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th will be issued a $1.35 dividend. The ex-dividend date of this dividend is Tuesday, June 16th. This represents a $5.40 dividend on an annualized basis and a yield of 4.3%. Ares Management’s dividend payout ratio (DPR) is 251.16%.

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.