Hsbc Holdings PLC Sells 26,926 Shares of Ares Management Corporation $ARES

Hsbc Holdings PLC reduced its position in shares of Ares Management Corporation (NYSE:ARES) by 6.8% in the 1st quarter, HoldingsChannel.com reports. The firm owned 369,039 shares of the asset manager’s stock after selling 26,926 shares during the quarter. Hsbc Holdings PLC’s holdings in Ares Management were worth $40,276,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Osbon Capital Management LLC acquired a new stake in shares of Ares Management during the fourth quarter worth $32,000. Atlantic Edge Private Wealth Management LLC acquired a new position in shares of Ares Management in the fourth quarter valued at about $42,000. Elyxium Wealth LLC acquired a new position in shares of Ares Management in the fourth quarter valued at about $42,000. Summit Securities Group LLC bought a new position in Ares Management during the fourth quarter worth about $49,000. Finally, AlphaCentric Advisors LLC bought a new position in Ares Management during the fourth quarter worth about $62,000. 50.03% of the stock is currently owned by institutional investors.

Ares Management Trading Down 3.4%

NYSE ARES opened at $121.41 on Tuesday. 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 twelve month low of $95.80 and a twelve month high of $195.26. The company has a market cap of $40.05 billion, a price-to-earnings ratio of 56.47, a price-to-earnings-growth ratio of 1.12 and a beta of 1.51. The business’s fifty day moving average is $123.70 and its 200 day moving average is $126.52.

Ares Management (NYSE:ARES) last issued 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 firm had revenue of $1.40 billion during the quarter, compared to analyst estimates of $1.28 billion. Ares Management had a return on equity of 22.14% and a net margin of 10.54%.During the same period in the previous year, the company earned $1.09 EPS. As a group, sell-side analysts expect that Ares Management Corporation will post 5.99 EPS for the current fiscal 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. The ex-dividend date of this dividend was Tuesday, June 16th. This represents a $5.40 annualized dividend and a dividend yield of 4.4%. Ares Management’s dividend payout ratio is currently 251.16%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on ARES. The Goldman Sachs Group dropped their price target on shares of Ares Management from $165.00 to $131.00 and set a “buy” rating for the company in a research report on Tuesday, April 7th. JPMorgan Chase & Co. lowered their price objective on Ares Management from $188.00 to $144.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 28th. Wall Street Zen cut Ares Management from a “hold” rating to a “sell” rating in a report on Saturday, July 4th. TD Cowen upped their target price on Ares Management from $144.00 to $153.00 and gave the company a “buy” rating in a research report on Tuesday, June 23rd. Finally, Royal Bank Of Canada reiterated an “outperform” rating on shares of Ares Management in a research report on Wednesday, April 29th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, Ares Management presently has an average rating of “Moderate Buy” and an average price target of $159.13.

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.