Callan Family Office LLC Makes New $713,000 Investment in Ares Management Corporation $ARES

Key Points

• Callan Family Office LLC has invested approximately $713,000 in Ares Management Corporation, acquiring 4,114 shares during the 2nd quarter.
• Ares Management reported $1.03 earnings per share for the last quarter, missing estimates, but generated revenue of $1.35 billion, surpassing expectations.
• The company has announced a quarterly dividend of $1.12, which reflects an annualized yield of 3.1% with a payout ratio of 258.96%.

Callan Family Office LLC acquired a new position in shares of Ares Management Corporation (NYSE:ARES - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,114 shares of the asset manager's stock, valued at approximately $713,000.

Other large investors have also recently added to or reduced their stakes in the company. Redmont Wealth Advisors LLC bought a new stake in shares of Ares Management during the first quarter valued at approximately $28,000. Financial Network Wealth Advisors LLC bought a new stake in shares of Ares Management during the first quarter valued at approximately $31,000. Rakuten Securities Inc. grew its stake in shares of Ares Management by 3,262.5% during the first quarter. Rakuten Securities Inc. now owns 269 shares of the asset manager's stock valued at $39,000 after purchasing an additional 261 shares during the last quarter. Banque Transatlantique SA bought a new stake in shares of Ares Management during the first quarter valued at approximately $39,000. Finally, Ameritas Advisory Services LLC bought a new stake in shares of Ares Management during the second quarter valued at approximately $43,000. 50.03% of the stock is owned by institutional investors.

Ares Management Trading Up 2.0%

Shares of NYSE ARES opened at $143.69 on Tuesday. The company's 50 day simple moving average is $174.36 and its 200 day simple moving average is $167.32. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.08 and a quick ratio of 1.08. The firm has a market capitalization of $46.94 billion, a P/E ratio of 83.06, a P/E/G ratio of 1.10 and a beta of 1.43. Ares Management Corporation has a fifty-two week low of $110.63 and a fifty-two week high of $200.49.

Ares Management (NYSE:ARES - Get Free Report) last posted its earnings results on Friday, August 1st. The asset manager reported $1.03 earnings per share for the quarter, missing the consensus estimate of $1.15 by ($0.12). The firm had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.02 billion. Ares Management had a return on equity of 15.81% and a net margin of 9.47%.During the same quarter last year, the business posted $0.99 earnings per share. On average, analysts predict that Ares Management Corporation will post 5.28 EPS for the current year.

Ares Management Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th were issued a $1.12 dividend. The ex-dividend date was Tuesday, September 16th. This represents a $4.48 annualized dividend and a yield of 3.1%. Ares Management's dividend payout ratio (DPR) is 258.96%.

Wall Street Analyst Weigh In

Several analysts have recently commented on ARES shares. BMO Capital Markets started coverage on shares of Ares Management in a research note on Friday, October 3rd. They set a "market perform" rating and a $156.00 price target on the stock. Keefe, Bruyette & Woods increased their price target on shares of Ares Management from $193.00 to $203.00 and gave the company an "outperform" rating in a research note on Monday, August 4th. Wells Fargo & Company increased their price objective on shares of Ares Management from $189.00 to $202.00 and gave the company an "overweight" rating in a report on Friday, July 11th. Barclays cut their price objective on shares of Ares Management from $200.00 to $187.00 and set an "overweight" rating on the stock in a report on Wednesday, October 8th. Finally, Royal Bank Of Canada restated an "outperform" rating and issued a $215.00 price objective on shares of Ares Management in a report on Monday, September 29th. Thirteen research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $180.00.

Insiders Place Their Bets

In other Ares Management news, Chairman Antony P. Ressler sold 128,837 shares of the stock in a transaction on Wednesday, September 10th. The shares were sold at an average price of $178.30, for a total value of $22,971,637.10. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders have sold 2,590,000 shares of company stock valued at $464,430,639 in the last quarter. Company insiders own 0.52% of the company's stock.

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.

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