Granite Bay Wealth Management LLC Raises Stock Holdings in Ares Management Corporation $ARES

Granite Bay Wealth Management LLC raised its holdings in shares of Ares Management Corporation (NYSE:ARES) by 44.5% in the first quarter, Holdings Channel.com reports. The firm owned 44,832 shares of the asset manager’s stock after buying an additional 13,805 shares during the period. Ares Management comprises 1.0% of Granite Bay Wealth Management LLC’s portfolio, making the stock its 29th largest holding. Granite Bay Wealth Management LLC’s holdings in Ares Management were worth $4,903,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of ARES. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised 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 in the last quarter. Fulcrum Asset Management LLP grew its position in shares of Ares Management by 1.7% during the third quarter. Fulcrum Asset Management LLP now owns 4,321 shares of the asset manager’s stock worth $691,000 after buying an additional 72 shares in the last quarter. Wedbush Securities Inc. increased its stake in shares of Ares Management by 4.2% in the fourth 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 last quarter. U.S. Capital Wealth Advisors LLC increased its stake in shares of Ares Management by 3.2% in the fourth quarter. U.S. Capital Wealth Advisors LLC now owns 2,666 shares of the asset manager’s stock worth $431,000 after buying an additional 83 shares during the last quarter. Finally, First Manhattan CO. LLC. raised its holdings in Ares Management by 0.5% in the fourth quarter. First Manhattan CO. LLC. now owns 17,634 shares of the asset manager’s stock valued at $2,850,000 after acquiring an additional 89 shares in the last quarter. 50.03% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have weighed in on ARES shares. Wall Street Zen lowered shares of Ares Management from a “hold” rating to a “sell” rating in a report on Saturday, July 4th. Barclays cut their target price on shares of Ares Management from $140.00 to $139.00 and set an “overweight” rating on the stock in a research note on Thursday. Citizens Jmp reduced their price target on shares of Ares Management from $190.00 to $160.00 and set a “market outperform” rating on the stock in a research report on Thursday. Zacks Research upgraded Ares Management from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 5th. Finally, Royal Bank Of Canada reissued an “outperform” rating on shares of Ares Management in a report on Wednesday, April 29th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $158.47.

Ares Management Stock Up 0.3%

ARES stock opened at $122.07 on Friday. The firm has a fifty day moving average price of $123.71 and a two-hundred day moving average price of $128.71. 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 Corporation has a 1-year low of $95.80 and a 1-year high of $195.26. The firm has a market cap of $40.26 billion, a price-to-earnings ratio of 56.78, a PEG ratio of 1.07 and a beta of 1.51.

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). The business had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.28 billion. Ares Management had a net margin of 10.54% and a return on equity of 22.14%. During the same period in the prior year, the company earned $1.09 EPS. Research analysts predict that Ares Management Corporation will post 6.03 EPS for the current year.

Ares Management Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th were issued a dividend of $1.35 per share. The ex-dividend date of this dividend was Tuesday, June 16th. This represents a $5.40 annualized dividend and a dividend yield of 4.4%. Ares Management’s dividend payout ratio is 251.16%.

Ares Management 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.