Curated Wealth Partners LLC lifted its stake in shares of Ares Management Co. (NYSE:ARES - Free Report) by 0.2% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,489,009 shares of the asset manager's stock after purchasing an additional 3,237 shares during the quarter. Ares Management comprises about 28.2% of Curated Wealth Partners LLC's investment portfolio, making the stock its 2nd largest position. Curated Wealth Partners LLC owned approximately 0.47% of Ares Management worth $218,304,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also made changes to their positions in the company. Paragon Advisors LLC increased its stake in Ares Management by 2.9% in the 1st quarter. Paragon Advisors LLC now owns 12,712 shares of the asset manager's stock valued at $1,864,000 after purchasing an additional 362 shares in the last quarter. Wealthcare Advisory Partners LLC grew its holdings in Ares Management by 1.4% in the first quarter. Wealthcare Advisory Partners LLC now owns 9,566 shares of the asset manager's stock valued at $1,402,000 after purchasing an additional 134 shares during the last quarter. Harbor Capital Advisors Inc. increased its position in shares of Ares Management by 43.8% in the first quarter. Harbor Capital Advisors Inc. now owns 3,949 shares of the asset manager's stock valued at $579,000 after buying an additional 1,203 shares in the last quarter. Pallas Capital Advisors LLC raised its stake in shares of Ares Management by 5.4% during the 1st quarter. Pallas Capital Advisors LLC now owns 29,019 shares of the asset manager's stock worth $4,255,000 after buying an additional 1,474 shares during the last quarter. Finally, Portside Wealth Group LLC boosted its position in shares of Ares Management by 6.5% in the 1st quarter. Portside Wealth Group LLC now owns 7,820 shares of the asset manager's stock worth $1,146,000 after buying an additional 476 shares in the last quarter. 50.03% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several equities analysts have weighed in on ARES shares. Oppenheimer downgraded shares of Ares Management from an "outperform" rating to a "market perform" rating in a report on Thursday, May 15th. Wells Fargo & Company raised their price objective on shares of Ares Management from $182.00 to $189.00 and gave the stock an "overweight" rating in a research note on Friday, May 23rd. JMP Securities upped their target price on Ares Management from $165.00 to $185.00 and gave the company a "market outperform" rating in a research note on Thursday, May 8th. The Goldman Sachs Group lowered their target price on Ares Management from $188.00 to $166.00 and set a "buy" rating on the stock in a report on Thursday, April 3rd. Finally, TD Cowen cut their price target on Ares Management from $216.00 to $161.00 and set a "buy" rating for the company in a report on Wednesday, April 9th. One research analyst has rated the stock with a sell rating, four have given a hold rating and twelve have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $174.94.
Get Our Latest Analysis on ARES
Insider Transactions at Ares Management
In other Ares Management news, CEO Michael J. Arougheti sold 107,500 shares of the stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $161.34, for a total value of $17,344,050.00. Following the completion of the sale, the chief executive officer now owns 1,400,000 shares of the company's stock, valued at $225,876,000. This trade represents a 7.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider David B. Kaplan sold 62,500 shares of the business's stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $169.36, for a total transaction of $10,585,000.00. Following the transaction, the insider now directly owns 62,500 shares in the company, valued at approximately $10,585,000. The trade was a 50.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 898,990 shares of company stock worth $148,835,332 in the last three months. 36.86% of the stock is currently owned by company insiders.
Ares Management Trading Up 1.0%
Shares of ARES stock traded up $1.68 during trading hours on Thursday, hitting $170.46. 2,387,187 shares of the company were exchanged, compared to its average volume of 1,439,256. The firm has a fifty day moving average of $155.94 and a 200 day moving average of $167.27. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.53. Ares Management Co. has a 1 year low of $110.63 and a 1 year high of $200.49. The firm has a market cap of $55.67 billion, a PE ratio of 83.97, a PEG ratio of 1.28 and a beta of 1.38.
Ares Management (NYSE:ARES - Get Free Report) last announced its quarterly earnings results on Monday, May 5th. The asset manager reported $1.09 earnings per share for the quarter, beating analysts' consensus estimates of $0.94 by $0.15. The company had revenue of $951.96 million for the quarter, compared to analyst estimates of $914.00 million. Ares Management had a net margin of 11.35% and a return on equity of 16.64%. During the same quarter last year, the business earned $0.80 EPS. Analysts expect that Ares Management Co. will post 5.28 earnings per share for the current year.
Ares Management Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be paid a dividend of $1.12 per share. The ex-dividend date is Monday, June 16th. This represents a $4.48 annualized dividend and a yield of 2.63%. Ares Management's dividend payout ratio is presently 263.53%.
About Ares Management
(
Free Report)
Ares Management Corporation operates as an alternative asset manager in the United States, Europe, and Asia. The company's Tradable Credit Group segment manages various types of investment funds, such as commingled and separately managed accounts for institutional investors, and publicly traded vehicles and sub-advised funds for retail investors in the tradable and non-investment grade corporate credit markets.
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