Burling Wealth Partners LLC Raises Stock Holdings in Ares Management Corporation (NYSE:ARES)

Burling Wealth Partners LLC grew its holdings in shares of Ares Management Corporation (NYSE:ARES - Free Report) by 13.3% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 17,391 shares of the asset manager's stock after buying an additional 2,037 shares during the period. Burling Wealth Partners LLC's holdings in Ares Management were worth $2,550,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in ARES. Avantax Advisory Services Inc. increased its stake in shares of Ares Management by 12.0% during the fourth quarter. Avantax Advisory Services Inc. now owns 7,227 shares of the asset manager's stock valued at $1,279,000 after buying an additional 777 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Ares Management by 12.4% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,007 shares of the asset manager's stock valued at $1,063,000 after buying an additional 665 shares during the period. Commonwealth Equity Services LLC boosted its position in shares of Ares Management by 34.2% during the fourth quarter. Commonwealth Equity Services LLC now owns 28,622 shares of the asset manager's stock valued at $5,067,000 after purchasing an additional 7,300 shares in the last quarter. Natixis Advisors LLC boosted its position in shares of Ares Management by 5.4% during the fourth quarter. Natixis Advisors LLC now owns 41,757 shares of the asset manager's stock valued at $7,393,000 after purchasing an additional 2,156 shares in the last quarter. Finally, Harbour Investments Inc. boosted its position in shares of Ares Management by 25.6% during the fourth quarter. Harbour Investments Inc. now owns 398 shares of the asset manager's stock valued at $70,000 after purchasing an additional 81 shares in the last quarter. 50.03% of the stock is owned by hedge funds and other institutional investors.

Ares Management Stock Performance

Shares of NYSE:ARES traded down $0.04 during midday trading on Friday, reaching $183.13. 2,397,943 shares of the company's stock traded hands, compared to its average volume of 1,438,363. The company has a market cap of $59.81 billion, a price-to-earnings ratio of 107.72, a P/E/G ratio of 1.47 and a beta of 1.37. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.07 and a current ratio of 1.07. Ares Management Corporation has a one year low of $110.63 and a one year high of $200.49. The stock has a 50 day moving average of $170.38 and a 200 day moving average of $166.45.

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 (EPS) for the quarter, beating analysts' consensus estimates of $0.94 by $0.15. The firm had revenue of $951.96 million for the quarter, compared to the consensus estimate of $914.00 million. Ares Management had a return on equity of 16.29% and a net margin of 9.73%. During the same period in the prior year, the company posted $0.80 earnings per share. As a group, equities research analysts anticipate that Ares Management Corporation will post 5.28 EPS for the current fiscal year.

Ares Management Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 16th were issued a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a yield of 2.45%. The ex-dividend date was Monday, June 16th. Ares Management's dividend payout ratio is 263.53%.

Analyst Upgrades and Downgrades

ARES has been the topic of several research reports. Citigroup restated an "outperform" rating on shares of Ares Management in a research report on Monday. Morgan Stanley dropped their price target on Ares Management from $197.00 to $152.00 and set an "equal weight" rating on the stock in a research report on Monday, April 14th. JMP Securities set a $195.00 price target on Ares Management and gave the company a "market outperform" rating in a research report on Monday. Wells Fargo & Company lifted their price target on Ares Management from $189.00 to $202.00 and gave the company an "overweight" rating in a research report on Friday, July 11th. Finally, Bank of America dropped their price target on Ares Management from $221.00 to $201.00 and set a "buy" rating on the stock in a research report on Friday, April 4th. One research analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have issued a buy rating to the company's stock. According to MarketBeat, Ares Management presently has an average rating of "Moderate Buy" and an average price target of $177.50.

Insider Buying and Selling at Ares Management

In other Ares Management news, CEO Michael J. Arougheti sold 182,108 shares of the stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $170.07, for a total value of $30,971,107.56. Following the transaction, the chief executive officer owned 350,684 shares of the company's stock, valued at approximately $59,640,827.88. This represents a 34.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider David B. Kaplan sold 62,500 shares of the stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $169.36, for a total value of $10,585,000.00. Following the completion of the transaction, the insider directly owned 62,500 shares in the company, valued at approximately $10,585,000. This represents a 50.00% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 873,145 shares of company stock valued at $146,204,353. 36.86% of the stock is owned by company insiders.

Ares Management Profile

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.