PNC Financial Services Group Inc. Acquires 13,642 Shares of Ares Management Corporation $ARES

PNC Financial Services Group Inc. boosted its holdings in shares of Ares Management Corporation (NYSE:ARES) by 40.7% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 47,169 shares of the asset manager’s stock after acquiring an additional 13,642 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Ares Management were worth $5,146,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Ares Management by 5.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,344 shares of the asset manager’s stock worth $197,000 after purchasing an additional 70 shares during the last quarter. Wedbush Securities Inc. grew its holdings 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 purchasing an additional 81 shares during the last quarter. U.S. Capital Wealth Advisors LLC grew its holdings 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 purchasing an additional 83 shares during the last quarter. First Manhattan CO. LLC. increased its stake in Ares Management by 0.5% in 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. Finally, Root Financial Partners LLC increased its stake in Ares Management by 17.8% in the 4th quarter. Root Financial Partners LLC now owns 642 shares of the asset manager’s stock worth $104,000 after buying an additional 97 shares during the period. Institutional investors own 50.03% of the company’s stock.

Ares Management Stock Performance

ARES stock opened at $127.85 on Tuesday. 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 business has a 50-day moving average price of $123.57 and a 200 day moving average price of $124.96. The company has a market capitalization of $42.17 billion, a P/E ratio of 59.46, a PEG ratio of 1.13 and a beta of 1.51. Ares Management Corporation has a 1-year low of $95.80 and a 1-year high of $195.26.

Ares Management (NYSE:ARES) last released 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 period last year, the company earned $1.09 earnings per share. As a group, equities research analysts forecast that Ares Management Corporation will post 5.98 EPS for the current fiscal year.

Ares Management Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th were issued a $1.35 dividend. The ex-dividend date was Tuesday, June 16th. This represents a $5.40 annualized dividend and a dividend yield of 4.2%. Ares Management’s payout ratio is currently 251.16%.

Wall Street Analyst Weigh In

ARES has been the subject of several research reports. JPMorgan Chase & Co. lowered their price objective 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. Oppenheimer dropped their target price on shares of Ares Management from $146.00 to $140.00 and set an “outperform” rating on the stock in a research note on Friday, July 17th. The Goldman Sachs Group reduced their target price on shares of Ares Management from $165.00 to $131.00 and set a “buy” rating on the stock in a research report on Tuesday, April 7th. Keefe, Bruyette & Woods raised shares of Ares Management to a “hold” rating in a research note on Monday, July 20th. Finally, Morgan Stanley set a $160.00 price target on Ares Management in a report on Tuesday, July 21st. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, Ares Management presently has a consensus rating of “Moderate Buy” and an average target price of $158.93.

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.