Whittier Trust Co. of Nevada Inc. Boosts Holdings in 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 first quarter, HoldingsChannel.com reports. The firm owned 37,693 shares of the asset manager’s stock after acquiring 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 SEC filing.

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

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Zacks Research upgraded shares of Ares Management from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 5th. Royal Bank Of Canada reiterated an “outperform” rating on shares of Ares Management in a research note on Wednesday, April 29th. TD Cowen lifted their target price on Ares Management from $144.00 to $153.00 and gave the stock a “buy” rating in a report on Tuesday, June 23rd. Weiss Ratings restated a “hold (c)” rating on shares of Ares Management in a research note on Tuesday, May 26th. Finally, Wall Street Zen downgraded Ares Management from a “hold” rating to a “sell” rating in a report on Saturday. One 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $163.12.

Ares Management Stock Performance

Shares of NYSE:ARES traded down $1.58 during trading on Tuesday, hitting $120.25. The company’s stock had a trading volume of 276,942 shares, compared to its average volume of 3,348,752. The company has a 50-day moving average of $123.08 and a 200-day moving average of $129.75. Ares Management Corporation has a 12 month low of $95.80 and a 12 month high of $195.26. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.23 and a quick ratio of 0.23. The firm has a market cap of $39.66 billion, a price-to-earnings ratio of 55.94, a P/E/G ratio of 1.03 and a beta of 1.51.

Ares Management (NYSE:ARES) last announced its earnings results on Friday, May 1st. The asset manager reported $1.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.32 by ($0.08). Ares Management had a net margin of 10.54% and a return on equity of 22.14%. The business had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.28 billion. During the same quarter last year, the firm posted $1.09 earnings per share. On average, sell-side analysts expect that Ares Management Corporation will post 6.04 earnings per share for the current year.

Ares Management Dividend Announcement

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