Peregrine Capital Management LLC Has $96.42 Million Position in Ares Management Corporation $ARES

Peregrine Capital Management LLC decreased its holdings in Ares Management Corporation (NYSE:ARES) by 7.4% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 603,037 shares of the asset manager’s stock after selling 48,061 shares during the quarter. Ares Management comprises about 2.9% of Peregrine Capital Management LLC’s portfolio, making the stock its 4th biggest position. Peregrine Capital Management LLC’s holdings in Ares Management were worth $96,420,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of ARES. Creative Planning increased its stake in shares of Ares Management by 29.6% in the second quarter. Creative Planning now owns 34,036 shares of the asset manager’s stock worth $5,895,000 after purchasing an additional 7,776 shares during the period. Wealth Alliance LLC boosted its stake in Ares Management by 30.6% in the second quarter. Wealth Alliance LLC now owns 4,388 shares of the asset manager’s stock worth $760,000 after purchasing an additional 1,027 shares in the last quarter. Winslow Capital Management LLC bought a new position in shares of Ares Management in the second quarter worth about $161,774,000. Zevenbergen Capital Investments LLC lifted its stake in shares of Ares Management by 6.7% during the third quarter. Zevenbergen Capital Investments LLC now owns 159,898 shares of the asset manager’s stock valued at $25,566,000 after acquiring an additional 10,069 shares during the period. Finally, Burling Wealth Partners LLC grew its holdings in Ares Management by 18.9% during the 2nd quarter. Burling Wealth Partners LLC now owns 20,679 shares of the asset manager’s stock worth $3,582,000 after acquiring an additional 3,288 shares during the period. Institutional investors and hedge funds own 50.03% of the company’s stock.

Insider Buying and Selling

In other Ares Management news, CEO Michael J. Arougheti sold 56,257 shares of the stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $157.26, for a total transaction of $8,846,975.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold a total of 590,000 shares of company stock worth $90,653,808 over the last quarter. Corporate insiders own 36.86% of the company’s stock.

Ares Management Price Performance

ARES stock opened at $175.83 on Friday. The company has a market capitalization of $57.47 billion, a P/E ratio of 75.46, a PEG ratio of 1.01 and a beta of 1.53. The company has a fifty day moving average price of $161.03 and a 200-day moving average price of $168.34. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.22 and a current ratio of 0.22. Ares Management Corporation has a 52-week low of $110.63 and a 52-week high of $200.49.

Ares Management (NYSE:ARES) last announced its earnings results on Friday, October 31st. The asset manager reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.14 by $0.05. The business had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.03 billion. Ares Management had a return on equity of 16.33% and a net margin of 11.72%.During the same period last year, the company earned $0.55 EPS. As a group, equities analysts expect that Ares Management Corporation will post 5.28 EPS for the current year.

Ares Management Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 17th were given a $0.8438 dividend. The ex-dividend date was Wednesday, December 17th. This represents a $3.38 dividend on an annualized basis and a dividend yield of 1.9%. Ares Management’s payout ratio is 192.27%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on ARES shares. Keefe, Bruyette & Woods upped their price objective on shares of Ares Management from $188.00 to $189.00 and gave the company an “outperform” rating in a research report on Tuesday, November 4th. UBS Group began coverage on shares of Ares Management in a research note on Thursday, December 11th. They issued a “neutral” rating and a $201.00 price target on the stock. Barclays lifted their price target on shares of Ares Management from $187.00 to $218.00 and gave the company an “overweight” rating in a research report on Friday, December 12th. Bank of America upped their price target on shares of Ares Management from $196.00 to $197.00 and gave the stock a “buy” rating in a report on Friday, October 3rd. Finally, BMO Capital Markets assumed coverage on Ares Management in a research note on Friday, October 3rd. They issued a “market perform” rating and a $156.00 price objective on the stock. Thirteen research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $191.86.

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.