CIBC Asset Management Inc Buys 40,627 Shares of Ares Management Corporation $ARES

CIBC Asset Management Inc increased its stake in Ares Management Corporation (NYSE:ARES) by 496.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 48,814 shares of the asset manager’s stock after purchasing an additional 40,627 shares during the period. CIBC Asset Management Inc’s holdings in Ares Management were worth $7,890,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of ARES. Redmont Wealth Advisors LLC bought a new position in shares of Ares Management in the third quarter worth $40,000. Atlantic Edge Private Wealth Management LLC bought a new position in shares of Ares Management in the fourth quarter worth $42,000. Elyxium Wealth LLC bought a new position in shares of Ares Management in the fourth quarter worth $42,000. Washington Trust Advisors Inc. bought a new position in shares of Ares Management in the third quarter worth $50,000. Finally, Leonteq Securities AG bought a new position in shares of Ares Management in the fourth quarter worth $70,000. Institutional investors own 50.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on ARES shares. Weiss Ratings restated a “hold (c)” rating on shares of Ares Management in a research report on Tuesday, May 26th. Citizens Jmp reduced their price objective on Ares Management from $205.00 to $190.00 and set a “market outperform” rating on the stock in a research note on Wednesday, April 22nd. UBS Group set a $148.00 price objective on Ares Management in a research note on Friday, February 20th. Raymond James Financial raised Ares Management from a “market perform” rating to a “strong-buy” rating and set a $157.00 price objective on the stock in a research note on Monday, February 9th. Finally, BMO Capital Markets reduced their price objective on Ares Management from $140.00 to $112.00 and set a “market perform” rating on the stock in a research note on Tuesday, March 24th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have given a Hold rating to the company. According to MarketBeat, Ares Management has a consensus rating of “Moderate Buy” and a consensus price target of $162.56.

Ares Management Price Performance

Shares of ARES opened at $125.92 on Friday. Ares Management Corporation has a 1 year low of $95.80 and a 1 year high of $195.26. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.23 and a quick ratio of 0.23. The company has a market capitalization of $41.53 billion, a price-to-earnings ratio of 58.57, a price-to-earnings-growth ratio of 1.14 and a beta of 1.51. The business has a 50-day moving average of $117.49 and a 200-day moving average of $135.38.

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). Ares Management had a return on equity of 22.14% and a net margin of 10.54%.The company had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.28 billion. During the same quarter last year, the business earned $1.09 earnings per share. As a group, equities research analysts anticipate that Ares Management Corporation will post 6.06 earnings per share for the current year.

Ares Management Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th will be 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 is Tuesday, June 16th. Ares Management’s dividend payout ratio (DPR) is 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.