Whittier Trust Co. of Nevada Inc. Purchases 37,083 Shares of Ares Management Corporation $ARES

Whittier Trust Co. of Nevada Inc. increased its position in Ares Management Corporation (NYSE:ARES) by 6,079.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 37,693 shares of the asset manager’s stock after buying an additional 37,083 shares during the quarter. Whittier Trust Co. of Nevada Inc.’s holdings in Ares Management were worth $3,876,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Osbon Capital Management LLC bought a new stake in Ares Management in the 4th quarter worth $32,000. Atlantic Edge Private Wealth Management LLC bought a new position in shares of Ares Management during the fourth quarter valued at about $42,000. Elyxium Wealth LLC bought a new position in shares of Ares Management during the fourth quarter valued at about $42,000. Summit Securities Group LLC purchased a new stake in shares of Ares Management during the fourth quarter worth about $49,000. Finally, AlphaCentric Advisors LLC purchased a new stake in shares of Ares Management during the fourth quarter worth about $62,000. 50.03% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

ARES has been the topic of a number of research analyst reports. JPMorgan Chase & Co. reduced their price target on Ares Management from $188.00 to $144.00 and set an “overweight” rating on the stock in a report on Tuesday, April 28th. Oppenheimer reiterated an “outperform” rating and issued a $146.00 price objective (down from $147.00) on shares of Ares Management in a research report on Monday, May 4th. The Goldman Sachs Group reduced their target price on Ares Management from $165.00 to $131.00 and set a “buy” rating on the stock in a research note on Tuesday, April 7th. Morgan Stanley dropped their price target on Ares Management from $178.00 to $163.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 21st. Finally, Wall Street Zen cut shares of Ares Management from a “hold” rating to a “sell” rating in a report on Saturday. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $163.12.

Ares Management Stock Down 1.3%

NYSE ARES traded down $1.58 during trading hours on Tuesday, reaching $120.25. 276,942 shares of the company’s stock traded hands, compared to its average volume of 3,348,752. Ares Management Corporation has a 52-week low of $95.80 and a 52-week high of $195.26. The firm has a market cap of $39.66 billion, a PE ratio of 55.94, a PEG ratio of 1.03 and a beta of 1.51. The firm has a 50-day simple moving average of $123.08 and a 200 day simple moving average of $129.75. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.23 and a quick ratio of 0.23.

Ares Management (NYSE:ARES) last announced its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $1.28 billion. During the same quarter last year, the company posted $1.09 EPS. Sell-side analysts anticipate that Ares Management Corporation will post 6.04 EPS for the current fiscal year.

Ares Management Dividend Announcement

The business also recently declared 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 annualized dividend and a dividend yield of 4.5%. Ares Management’s dividend payout ratio is presently 251.16%.

About Ares Management

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.