Ares Management Corporation $ARES Shares Purchased by Wealthfront Advisers LLC

Wealthfront Advisers LLC grew its stake in shares of Ares Management Corporation (NYSE:ARES) by 88.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 43,582 shares of the asset manager’s stock after acquiring an additional 20,490 shares during the period. Wealthfront Advisers LLC’s holdings in Ares Management were worth $4,755,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Ares Management by 5.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,344 shares of the asset manager’s stock valued at $197,000 after purchasing an additional 70 shares in the last quarter. Wedbush Securities Inc. boosted its holdings in shares of Ares Management by 4.2% during the fourth quarter. Wedbush Securities Inc. now owns 2,030 shares of the asset manager’s stock worth $328,000 after purchasing an additional 81 shares during the last quarter. U.S. Capital Wealth Advisors LLC boosted its stake in Ares Management by 3.2% in the 4th quarter. U.S. Capital Wealth Advisors LLC now owns 2,666 shares of the asset manager’s stock worth $431,000 after buying an additional 83 shares during the last quarter. First Manhattan CO. LLC. boosted its position in shares of Ares Management by 0.5% in the fourth quarter. First Manhattan CO. LLC. now owns 17,634 shares of the asset manager’s stock worth $2,850,000 after acquiring an additional 89 shares during the last quarter. Finally, Root Financial Partners LLC boosted its holdings in shares of Ares Management by 17.8% in the 4th quarter. Root Financial Partners LLC now owns 642 shares of the asset manager’s stock valued at $104,000 after purchasing an additional 97 shares during the last quarter. 50.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ARES has been the subject of a number of research reports. Morgan Stanley decreased their target price on Ares Management from $178.00 to $163.00 and set an “equal weight” rating for the company in a report on Tuesday, April 21st. The Goldman Sachs Group lowered their target price 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. Weiss Ratings reissued a “hold (c)” rating on shares of Ares Management in a research report on Tuesday, May 26th. Oppenheimer decreased their price target on Ares Management from $146.00 to $140.00 and set an “outperform” rating for the company in a research note on Friday. Finally, Barclays lowered their target price on shares of Ares Management from $140.00 to $139.00 and set an “overweight” rating for the company in a research note on Thursday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $159.13.

Ares Management Stock Up 0.0%

ARES opened at $125.44 on Friday. Ares Management Corporation has a 12 month low of $95.80 and a 12 month high of $195.26. The stock’s 50 day moving average price is $123.76 and its 200 day moving average price is $127.11. 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 stock has a market cap of $41.38 billion, a P/E ratio of 58.34, a P/E/G ratio of 1.11 and a beta of 1.51.

Ares Management (NYSE:ARES) last posted its quarterly earnings data on Friday, May 1st. The asset manager reported $1.24 earnings per share for the quarter, missing the consensus estimate 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 during the quarter, compared to analyst estimates of $1.28 billion. During the same period in the previous year, the company earned $1.09 EPS. As a group, research analysts predict that Ares Management Corporation will post 5.99 earnings per share for the current year.

Ares Management Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th were paid a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date of this dividend was Tuesday, June 16th. Ares Management’s payout ratio is currently 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.