TD Asset Management Inc trimmed its holdings in Ares Management Corporation (NYSE:ARES – Free Report) by 92.3% in the fourth quarter, Holdings Channel reports. The institutional investor owned 83,180 shares of the asset manager’s stock after selling 1,004,013 shares during the quarter. TD Asset Management Inc’s holdings in Ares Management were worth $13,444,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Ares Management by 5.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,344 shares of the asset manager’s stock valued at $197,000 after buying an additional 70 shares in the last quarter. Fulcrum Asset Management LLP grew its stake in Ares Management by 1.7% in the 3rd quarter. Fulcrum Asset Management LLP now owns 4,321 shares of the asset manager’s stock valued at $691,000 after buying an additional 72 shares in the last quarter. Oppenheimer Asset Management Inc. grew its stake in Ares Management by 1.3% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 5,921 shares of the asset manager’s stock valued at $947,000 after buying an additional 76 shares in the last quarter. U.S. Capital Wealth Advisors LLC grew its stake in Ares Management by 3.2% in the 4th quarter. U.S. Capital Wealth Advisors LLC now owns 2,666 shares of the asset manager’s stock valued at $431,000 after buying an additional 83 shares in the last quarter. Finally, Wealth Alliance LLC grew its stake in Ares Management by 2.1% in the 3rd quarter. Wealth Alliance LLC now owns 4,480 shares of the asset manager’s stock valued at $716,000 after buying an additional 92 shares in the last quarter. 50.03% of the stock is currently owned by hedge funds and other institutional investors.
Ares Management Stock Performance
Ares Management stock opened at $126.64 on Tuesday. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.96. The company has a market capitalization of $41.77 billion, a PE ratio of 58.90, a P/E/G ratio of 1.10 and a beta of 1.51. The firm has a fifty day simple moving average of $117.87 and a two-hundred day simple moving average of $135.23. Ares Management Corporation has a twelve month low of $95.80 and a twelve month high of $195.26.
Ares Management Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th will be paid a $1.35 dividend. The ex-dividend date of this dividend is Tuesday, June 16th. This represents a $5.40 annualized dividend and a yield of 4.3%. Ares Management’s payout ratio is currently 251.16%.
Wall Street Analyst Weigh In
A number of research analysts have recently commented on the stock. Royal Bank Of Canada restated an “outperform” rating on shares of Ares Management in a research report on Wednesday, April 29th. Morgan Stanley reduced their price target on shares of Ares Management from $178.00 to $163.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 21st. JPMorgan Chase & Co. reduced their price target on shares of Ares Management from $188.00 to $144.00 and set an “overweight” rating for the company in a research report on Tuesday, April 28th. Zacks Research upgraded shares of Ares Management from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 5th. Finally, TD Cowen reduced their price target on shares of Ares Management from $148.00 to $144.00 and set a “buy” rating for the company in a research report on Monday, May 18th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, Ares Management has a consensus rating of “Moderate Buy” and an average target price of $162.56.
Read Our Latest Stock Analysis on Ares Management
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.
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