Jennison Associates LLC Acquires Shares of 23,311 Ares Management Corporation $ARES

Jennison Associates LLC acquired a new stake in shares of Ares Management Corporation (NYSE:ARES) in the first quarter, Holdings Channel.com reports. The firm acquired 23,311 shares of the asset manager’s stock, valued at approximately $2,543,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Osbon Capital Management LLC purchased a new stake in shares of Ares Management in the fourth quarter worth about $32,000. Atlantic Edge Private Wealth Management LLC purchased a new position in Ares Management during the fourth quarter valued at approximately $42,000. Elyxium Wealth LLC acquired a new position in Ares Management in the fourth quarter valued at approximately $42,000. Summit Securities Group LLC acquired a new position in Ares Management in the fourth quarter valued at approximately $49,000. Finally, AlphaCentric Advisors LLC purchased a new stake in Ares Management in the 4th quarter worth approximately $62,000. Institutional investors and hedge funds own 50.03% of the company’s stock.

Wall Street Analysts Forecast Growth

ARES has been the topic of a number of analyst reports. JPMorgan Chase & Co. dropped their price objective on shares of Ares Management from $188.00 to $144.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 28th. BMO Capital Markets boosted their target price on shares of Ares Management from $125.00 to $128.00 and gave the company a “market perform” rating in a research note on Monday, July 13th. Citigroup reissued an “outperform” rating on shares of Ares Management in a report on Thursday, July 9th. Citizens Jmp cut their price objective on shares of Ares Management from $190.00 to $160.00 and set a “market outperform” rating for the company in a report on Thursday, July 9th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Ares Management in a report on Wednesday, April 29th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $158.93.

Ares Management Stock Down 0.8%

Shares of ARES opened at $119.76 on Thursday. The firm has a market cap of $39.50 billion, a P/E ratio of 55.70, a PEG ratio of 1.07 and a beta of 1.51. 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 is $123.57 and its two-hundred day moving average is $125.94. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.96.

Ares Management (NYSE:ARES) last announced its earnings results 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 business had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.28 billion. During the same period in the previous year, the company earned $1.09 earnings per share. Analysts predict that Ares Management Corporation will post 5.99 earnings per share for the current fiscal year.

Ares Management Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th were given a dividend of $1.35 per share. The ex-dividend date was Tuesday, June 16th. This represents a $5.40 dividend on an annualized basis and a yield of 4.5%. Ares Management’s dividend payout ratio is currently 251.16%.

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.