Bank of New York Mellon Corp Has $126.29 Million Stock Holdings in Ares Management Corporation $ARES

Bank of New York Mellon Corp reduced its stake in Ares Management Corporation (NYSE:ARES) by 12.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 789,884 shares of the asset manager’s stock after selling 116,133 shares during the quarter. Bank of New York Mellon Corp owned about 0.24% of Ares Management worth $126,294,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of Ares Management by 9.1% in the 2nd quarter. Vanguard Group Inc. now owns 20,936,367 shares of the asset manager’s stock valued at $3,626,179,000 after purchasing an additional 1,746,376 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Ares Management by 7.6% in the second quarter. Geode Capital Management LLC now owns 3,454,083 shares of the asset manager’s stock valued at $596,280,000 after buying an additional 244,286 shares during the period. Norges Bank bought a new stake in Ares Management during the second quarter valued at $328,910,000. Winslow Capital Management LLC acquired a new stake in Ares Management during the 2nd quarter worth about $161,774,000. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Ares Management by 8.3% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 796,472 shares of the asset manager’s stock worth $137,949,000 after acquiring an additional 61,317 shares in the last quarter. Institutional investors and hedge funds own 50.03% of the company’s stock.

Ares Management Stock Performance

NYSE ARES opened at $149.73 on Friday. The company has a market cap of $48.94 billion, a P/E ratio of 64.26, a PEG ratio of 0.87 and a beta of 1.53. The company has a fifty day simple moving average of $165.01 and a 200 day simple moving average of $166.88. The company has a current ratio of 0.22, a quick ratio of 0.22 and a debt-to-equity ratio of 0.62. Ares Management Corporation has a 12-month low of $110.63 and a 12-month high of $200.49.

Ares Management (NYSE:ARES) last released its quarterly earnings data on Friday, October 31st. The asset manager reported $1.19 earnings per share for the quarter, beating analysts’ consensus estimates of $1.14 by $0.05. The firm had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.03 billion. Ares Management had a net margin of 11.72% and a return on equity of 16.33%. During the same period last year, the firm earned $0.55 earnings per share. Sell-side analysts predict that Ares Management Corporation will post 5.28 earnings per share for the current fiscal year.

Ares Management Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 17th were issued a dividend of $0.8438 per share. This represents a $3.38 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend was Wednesday, December 17th. Ares Management’s payout ratio is currently 192.27%.

Insider Activity at Ares Management

In other news, CEO Michael J. Arougheti sold 56,257 shares of the firm’s stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $157.26, for a total value of $8,846,975.82. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders sold 590,000 shares of company stock valued at $90,653,808 over the last three months. Corporate insiders own 36.86% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on ARES shares. TD Cowen restated a “buy” rating on shares of Ares Management in a research report on Wednesday, January 14th. Barclays boosted their price target on Ares Management from $218.00 to $222.00 and gave the company an “overweight” rating in a research note on Friday, January 9th. Morgan Stanley set a $178.00 price objective on shares of Ares Management in a research report on Tuesday. Citigroup reiterated a “market outperform” rating on shares of Ares Management in a research note on Tuesday, October 21st. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Ares Management in a research report on Monday, December 29th. Twelve analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $194.79.

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.