Ares Management Corporation $ARES Shares Sold by Peregrine Capital Management LLC

Peregrine Capital Management LLC cut its holdings in shares of Ares Management Corporation (NYSE:ARES) by 1.6% during the first quarter, Holdings Channel.com reports. The institutional investor owned 584,716 shares of the asset manager’s stock after selling 9,388 shares during the period. Ares Management accounts for 2.4% of Peregrine Capital Management LLC’s investment portfolio, making the stock its 4th largest holding. Peregrine Capital Management LLC’s holdings in Ares Management were worth $63,793,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Ares Management by 20.2% in the fourth quarter. Vanguard Group Inc. now owns 26,050,425 shares of the asset manager’s stock worth $4,210,530,000 after acquiring an additional 4,373,955 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Ares Management by 26.3% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 5,705,599 shares of the asset manager’s stock valued at $922,196,000 after acquiring an additional 1,187,174 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Ares Management by 55.7% in the fourth quarter. Geode Capital Management LLC now owns 5,489,004 shares of the asset manager’s stock valued at $883,716,000 after purchasing an additional 1,963,460 shares during the period. Capital International Investors boosted its holdings in Ares Management by 0.3% in the fourth quarter. Capital International Investors now owns 4,257,710 shares of the asset manager’s stock valued at $688,176,000 after purchasing an additional 14,516 shares during the period. Finally, Principal Financial Group Inc. grew its stake in Ares Management by 8.6% during the 4th quarter. Principal Financial Group Inc. now owns 3,839,693 shares of the asset manager’s stock worth $620,616,000 after purchasing an additional 304,920 shares in the last quarter. Hedge funds and other institutional investors own 50.03% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Oppenheimer restated an “outperform” rating and set a $146.00 price target (down from $147.00) on shares of Ares Management in a report on Monday, May 4th. The Goldman Sachs Group decreased their price objective on Ares Management from $165.00 to $131.00 and set a “buy” rating for the company in a research note on Tuesday, April 7th. Zacks Research raised Ares Management from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 5th. JPMorgan Chase & Co. cut their target price on shares of Ares Management from $188.00 to $144.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 28th. Finally, Morgan Stanley reduced 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 report on Tuesday, April 21st. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, Ares Management has an average rating of “Moderate Buy” and a consensus target price of $163.12.

Ares Management Stock Performance

Shares of ARES stock opened at $111.45 on Wednesday. The company has a market cap of $36.76 billion, a P/E ratio of 51.84, a PEG ratio of 0.94 and a beta of 1.51. The firm has a fifty day moving average price of $123.20 and a 200 day moving average price of $131.36. 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.

Ares Management (NYSE:ARES) last posted its quarterly earnings results on Friday, May 1st. The asset manager reported $1.24 earnings per share 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 quarter in the prior year, the business earned $1.09 earnings per share. Sell-side analysts predict that Ares Management Corporation will post 6.06 earnings per share for the current fiscal year.

Ares Management Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th were issued a $1.35 dividend. The ex-dividend date was Tuesday, June 16th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.8%. Ares Management’s dividend payout ratio is presently 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.