Granite Bay Wealth Management LLC Buys 5,795 Shares of Ares Management Corporation $ARES

Granite Bay Wealth Management LLC boosted its stake in Ares Management Corporation (NYSE:ARES) by 23.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 31,027 shares of the asset manager’s stock after purchasing an additional 5,795 shares during the quarter. Ares Management makes up 1.2% of Granite Bay Wealth Management LLC’s investment portfolio, making the stock its 28th largest position. Granite Bay Wealth Management LLC’s holdings in Ares Management were worth $5,015,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in ARES. Vanguard Group Inc. grew its position in Ares Management by 20.2% during the fourth quarter. Vanguard Group Inc. now owns 26,050,425 shares of the asset manager’s stock worth $4,210,530,000 after buying an additional 4,373,955 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of Ares Management by 26.3% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 5,705,599 shares of the asset manager’s stock worth $922,196,000 after purchasing an additional 1,187,174 shares in the last quarter. Capital International Investors grew its holdings in shares of Ares Management by 0.4% during the third quarter. Capital International Investors now owns 4,243,194 shares of the asset manager’s stock worth $678,448,000 after purchasing an additional 15,913 shares in the last quarter. Principal Financial Group Inc. grew its holdings in shares of Ares Management by 8.6% during the fourth 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. Finally, LRI Investments LLC grew its holdings in shares of Ares Management by 10.2% during the third quarter. LRI Investments LLC now owns 2,586,253 shares of the asset manager’s stock worth $413,516,000 after purchasing an additional 238,531 shares in the last quarter. Institutional investors own 50.03% of the company’s stock.

Ares Management Stock Performance

Shares of ARES stock opened at $128.68 on Friday. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.22 and a current ratio of 0.23. Ares Management Corporation has a fifty-two week low of $95.80 and a fifty-two week high of $195.26. The stock has a 50 day moving average price of $111.50 and a two-hundred day moving average price of $138.19. The company has a market capitalization of $42.40 billion, a P/E ratio of 59.85, a PEG ratio of 1.08 and a beta of 1.50.

Ares Management (NYSE:ARES) last announced 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 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 the consensus estimate of $1.28 billion. During the same quarter in the previous year, the firm posted $1.09 EPS. Analysts expect that Ares Management Corporation will post 6.05 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. Shareholders of record on Tuesday, June 16th will be given a $1.35 dividend. The ex-dividend date is Tuesday, June 16th. This represents a $5.40 annualized dividend and a yield of 4.2%. Ares Management’s payout ratio is presently 251.16%.

Insiders Place Their Bets

In related news, Director Judy D. Olian acquired 480 shares of the stock in a transaction on Friday, February 20th. The stock was purchased at an average price of $124.43 per share, for a total transaction of $59,726.40. Following the completion of the transaction, the director owned 29,734 shares of the company’s stock, valued at $3,699,801.62. This trade represents a 1.64% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 36.86% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on ARES. Morgan Stanley cut their price objective 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. Royal Bank Of Canada reissued an “outperform” rating on shares of Ares Management in a report on Wednesday, April 29th. Raymond James Financial raised Ares Management from a “market perform” rating to a “strong-buy” rating and set a $157.00 price objective for the company in a report on Monday, February 9th. Wall Street Zen lowered Ares Management from a “hold” rating to a “sell” rating in a report on Saturday, February 28th. Finally, Zacks Research raised Ares Management from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 5th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $166.06.

About Ares Management

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.