TD Waterhouse Canada Inc. Has $1.21 Million Stake in Ares Management Corporation $ARES

TD Waterhouse Canada Inc. grew its holdings in Ares Management Corporation (NYSE:ARES) by 744.9% in the 2nd quarter, Holdings Channel reports. The fund owned 10,621 shares of the asset manager’s stock after purchasing an additional 9,364 shares during the quarter. TD Waterhouse Canada Inc.’s holdings in Ares Management were worth $1,206,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of ARES. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of 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 purchasing an additional 70 shares during the period. Wedbush Securities Inc. raised its holdings in Ares Management by 4.2% during the 4th quarter. Wedbush Securities Inc. now owns 2,030 shares of the asset manager’s stock worth $328,000 after buying an additional 81 shares during the period. First Manhattan CO. LLC. raised its holdings in Ares Management by 0.5% during the 4th quarter. First Manhattan CO. LLC. now owns 17,634 shares of the asset manager’s stock worth $2,850,000 after buying an additional 89 shares during the period. Root Financial Partners LLC lifted its stake in Ares Management by 17.8% in the fourth quarter. Root Financial Partners LLC now owns 642 shares of the asset manager’s stock valued at $104,000 after buying an additional 97 shares in the last quarter. Finally, Marks Group Wealth Management Inc lifted its stake in Ares Management by 7.3% in the fourth quarter. Marks Group Wealth Management Inc now owns 1,522 shares of the asset manager’s stock valued at $246,000 after buying an additional 103 shares in the last quarter. Institutional investors own 50.03% of the company’s stock.

Ares Management Price Performance

NYSE ARES opened at $138.35 on Wednesday. The firm’s 50 day moving average is $132.39 and its 200-day moving average is $122.36. The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 1.00. The company has a market capitalization of $45.70 billion, a PE ratio of 63.46, a price-to-earnings-growth ratio of 1.21 and a beta of 1.49. Ares Management Corporation has a 12-month low of $95.80 and a 12-month high of $186.85.

Ares Management (NYSE:ARES) last announced its earnings results on Friday, July 31st. The asset manager reported $1.29 EPS for the quarter, topping the consensus estimate of $1.28 by $0.01. The business had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.27 billion. Ares Management had a net margin of 10.63% and a return on equity of 25.42%. The firm’s revenue was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.03 earnings per share. Equities research analysts anticipate that Ares Management Corporation will post 5.94 earnings per share for the current fiscal year.

Ares Management Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 16th will be paid a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date is Wednesday, September 16th. Ares Management’s dividend payout ratio is currently 247.71%.

Wall Street Analysts Forecast Growth

ARES has been the subject of several research reports. Citigroup reissued a “market outperform” rating on shares of Ares Management in a research report on Monday, August 3rd. TD Cowen boosted their price objective on shares of Ares Management from $153.00 to $155.00 and gave the company a “buy” rating in a research report on Monday, August 3rd. Citizens Jmp reduced their target price on shares of Ares Management from $190.00 to $160.00 and set a “market outperform” rating for the company in a research note on Thursday, July 9th. Morgan Stanley set a $160.00 target price on Ares Management in a report on Tuesday, July 21st. Finally, Barclays dropped their price target on Ares Management from $140.00 to $139.00 and set an “overweight” rating on the stock in a research note on Thursday, July 9th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $160.47.

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.