Ares Management Corporation $ARES Shares Bought by Curated Wealth Partners LLC

Key Points

• Curated Wealth Partners increased its Ares Management position by 968.3% in the third quarter, holding 1.45 million shares worth approximately $168.5 million. Institutional investors collectively own 50.03% of Ares’ stock.
• Analysts maintain a generally positive view, with a consensus rating of “Moderate Buy” and an average price target of $155.38. Recent price targets from major firms range from $136 to $168.
• Ares reported quarterly earnings of $1.29 per share, slightly exceeding estimates, while revenue rose 5.8% year over year to $1.43 billion. The company also declared a $1.35 quarterly dividend, representing a 4.8% yield.

Curated Wealth Partners LLC grew its position in shares of Ares Management Corporation (NYSE:ARES - Free Report) by 968.3% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 1,450,854 shares of the asset manager's stock after purchasing an additional 1,315,043 shares during the quarter. Ares Management accounts for 14.1% of Curated Wealth Partners LLC's portfolio, making the stock its 2nd largest position. Curated Wealth Partners LLC owned about 0.44% of Ares Management worth $168,546,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of ARES. Renaissance Technologies LLC bought a new stake in shares of Ares Management during the first quarter valued at approximately $9,350,000. Junto Capital Management LP acquired a new position in Ares Management during the second quarter worth $40,084,000. National Pension Service grew its holdings in shares of Ares Management by 18.6% in the 2nd quarter. National Pension Service now owns 367,433 shares of the asset manager's stock worth $40,899,000 after purchasing an additional 57,641 shares during the last quarter. Bank of Nova Scotia grew its stake in Ares Management by 156.1% during the first quarter. Bank of Nova Scotia now owns 79,469 shares of the asset manager's stock worth $8,671,000 after buying an additional 48,438 shares during the last quarter. Finally, Wealthfront Advisers LLC grew its position in Ares Management by 88.7% during the 1st quarter. Wealthfront Advisers LLC now owns 43,582 shares of the asset manager's stock worth $4,755,000 after acquiring an additional 20,490 shares during the last quarter. Institutional investors and hedge funds own 50.03% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on ARES shares. Royal Bank Of Canada boosted their price objective on shares of Ares Management from $162.00 to $168.00 and gave the stock an "outperform" rating in a research report on Monday, August 3rd. JPMorgan Chase & Co. increased their price objective on shares of Ares Management from $143.00 to $153.00 and gave the company an "overweight" rating in a report on Monday, August 3rd. Wells Fargo & Company initiated coverage on Ares Management in a research note on Friday, October 2nd. They issued an "overweight" rating and a $136.00 target price on the stock. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and issued a $144.00 target price on shares of Ares Management in a report on Monday, August 3rd. Finally, Oppenheimer increased their price target on Ares Management from $151.00 to $162.00 and gave the stock an "outperform" rating in a report on Thursday, August 27th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, Ares Management presently has an average rating of "Moderate Buy" and a consensus target price of $155.38.

Ares Management Stock Performance

ARES stock traded up $0.48 during trading hours on Thursday, reaching $112.97. The stock had a trading volume of 1,189,625 shares, compared to its average volume of 2,921,456. Ares Management Corporation has a fifty-two week low of $95.80 and a fifty-two week high of $181.19. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.26 and a quick ratio of 0.26. The stock has a market capitalization of $37.31 billion, a PE ratio of 51.82, a price-to-earnings-growth ratio of 1.03 and a beta of 1.53. The stock has a 50-day simple moving average of $131.08 and a 200 day simple moving average of $124.40.

Ares Management (NYSE:ARES - Get Free Report) last posted its quarterly earnings results on Friday, July 31st. The asset manager reported $1.29 earnings per share for the quarter, beating analysts' consensus estimates of $1.28 by $0.01. The business had revenue of $1.43 billion for the quarter, compared to analysts' expectations of $1.27 billion. Ares Management had a return on equity of 25.42% and a net margin of 10.63%. The firm's revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.03 EPS. Analysts predict that Ares Management Corporation will post 5.87 EPS for the current fiscal year.

Ares Management Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Wednesday, September 16th were paid a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 4.8%. The ex-dividend date was Wednesday, September 16th. Ares Management's payout ratio is 247.71%.

Ares Management Company Profile

Ares Management Corporation NYSE: ARES is a global alternative investment manager that provides investment solutions across credit, private equity, real assets and secondaries. The company serves institutional investors, including pension plans, insurance companies, endowments and foundations, as well as wealth-management clients and other investors.

Its investment businesses include direct lending and other private credit strategies, liquid credit, corporate private equity, real estate, infrastructure and secondary investments.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.