PNC Financial Services Group Inc. Buys 13,642 Shares of Ares Management Corporation $ARES

PNC Financial Services Group Inc. grew its stake in Ares Management Corporation (NYSE:ARES) by 40.7% during the first quarter, HoldingsChannel reports. The fund owned 47,169 shares of the asset manager’s stock after acquiring an additional 13,642 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Ares Management were worth $5,146,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the stock. Cassaday & Co Wealth Management LLC purchased a new stake in shares of Ares Management during the 1st quarter worth $55,000. Dimensional Fund Advisors LP grew its stake in Ares Management by 13.7% in the first quarter. Dimensional Fund Advisors LP now owns 520,846 shares of the asset manager’s stock valued at $56,824,000 after purchasing an additional 62,767 shares during the last quarter. SEB Asset Management AB bought a new position in Ares Management in the first quarter worth about $4,781,000. Vision Retirement LLC raised its holdings in Ares Management by 24.0% in the first quarter. Vision Retirement LLC now owns 1,768 shares of the asset manager’s stock worth $193,000 after purchasing an additional 342 shares in the last quarter. Finally, Jennison Associates LLC bought a new position in Ares Management in the first quarter worth about $2,543,000. 50.03% of the stock is owned by institutional investors.

Ares Management Trading Up 1.1%

Ares Management stock opened at $127.85 on Tuesday. The stock has a 50-day moving average of $123.57 and a two-hundred day moving average of $124.96. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.23 and a current ratio of 0.23. Ares Management Corporation has a one year low of $95.80 and a one year high of $195.26. The stock has a market cap of $42.17 billion, a PE ratio of 59.46, a price-to-earnings-growth ratio of 1.13 and a beta of 1.51.

Ares Management (NYSE:ARES) last issued 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). Ares Management had a return on equity of 22.14% and a net margin of 10.54%.The business had revenue of $1.40 billion for the quarter, compared to analysts’ expectations of $1.28 billion. During the same quarter in the previous year, the firm posted $1.09 EPS. On average, research analysts anticipate that Ares Management Corporation will post 5.98 EPS for the current fiscal year.

Ares Management Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 16th were paid a $1.35 dividend. The ex-dividend date was Tuesday, June 16th. This represents a $5.40 dividend on an annualized basis and a yield of 4.2%. Ares Management’s dividend payout ratio (DPR) is 251.16%.

Analysts Set New Price Targets

ARES has been the topic of a number of recent analyst reports. Barclays lowered their price target on shares of Ares Management from $140.00 to $139.00 and set an “overweight” rating on the stock in a report on Thursday, July 9th. Wall Street Zen lowered shares of Ares Management from a “hold” rating to a “sell” rating in a research note on Saturday, July 4th. Zacks Research raised shares of Ares Management from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 5th. Citizens Jmp lowered their target price on shares of Ares Management from $190.00 to $160.00 and set a “market outperform” rating for the company in a research note on Thursday, July 9th. Finally, The Goldman Sachs Group cut their price target on shares of Ares Management from $165.00 to $131.00 and set a “buy” rating on the stock in a report on Tuesday, April 7th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $158.93.

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.