Pallas Capital Advisors LLC Purchases 1,474 Shares of Ares Management Co. (NYSE:ARES)

Pallas Capital Advisors LLC increased its position in Ares Management Co. (NYSE:ARES - Free Report) by 5.4% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 29,019 shares of the asset manager's stock after purchasing an additional 1,474 shares during the period. Pallas Capital Advisors LLC's holdings in Ares Management were worth $4,255,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of ARES. Norges Bank acquired a new stake in shares of Ares Management in the 4th quarter worth about $381,365,000. Raymond James Financial Inc. bought a new position in shares of Ares Management in the fourth quarter valued at approximately $335,858,000. TD Asset Management Inc. lifted its holdings in shares of Ares Management by 4,557.2% in the fourth quarter. TD Asset Management Inc. now owns 1,304,759 shares of the asset manager's stock valued at $230,981,000 after purchasing an additional 1,276,743 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Ares Management by 5.1% during the fourth quarter. Vanguard Group Inc. now owns 18,807,718 shares of the asset manager's stock valued at $3,329,530,000 after buying an additional 907,757 shares during the last quarter. Finally, FMR LLC grew its holdings in Ares Management by 12.8% during the fourth quarter. FMR LLC now owns 7,109,070 shares of the asset manager's stock worth $1,258,519,000 after buying an additional 807,361 shares in the last quarter. Institutional investors own 50.03% of the company's stock.

Ares Management Trading Up 2.4%

Shares of Ares Management stock opened at $174.11 on Monday. The company has a 50 day simple moving average of $153.81 and a two-hundred day simple moving average of $167.27. The firm has a market cap of $56.86 billion, a PE ratio of 85.77, a PEG ratio of 1.28 and a beta of 1.38. Ares Management Co. has a 1 year low of $110.63 and a 1 year high of $200.49. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.05 and a quick ratio of 1.05.

Ares Management (NYSE:ARES - Get Free Report) last announced its earnings results on Monday, May 5th. The asset manager reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.94 by $0.15. Ares Management had a net margin of 11.35% and a return on equity of 16.64%. The company had revenue of $951.96 million during the quarter, compared to analyst estimates of $914.00 million. During the same period in the previous year, the business earned $0.80 earnings per share. Analysts expect that Ares Management Co. will post 5.28 earnings per share for the current fiscal year.

Ares Management Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be given a dividend of $1.12 per share. The ex-dividend date is Monday, June 16th. This represents a $4.48 annualized dividend and a dividend yield of 2.57%. Ares Management's dividend payout ratio (DPR) is presently 263.53%.

Insider Activity

In other Ares Management news, CEO Michael J. Arougheti sold 110,845 shares of the business's stock in a transaction on Monday, March 24th. The shares were sold at an average price of $153.17, for a total value of $16,978,128.65. Following the completion of the sale, the chief executive officer now directly owns 1,400,000 shares of the company's stock, valued at $214,438,000. The trade was a 7.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Ashish Bhutani acquired 10,000 shares of Ares Management stock in a transaction dated Tuesday, March 11th. The shares were bought at an average cost of $141.33 per share, for a total transaction of $1,413,300.00. Following the completion of the purchase, the director now directly owns 22,905 shares of the company's stock, valued at approximately $3,237,163.65. The trade was a 77.49% increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders have sold 898,990 shares of company stock worth $148,835,332. 36.86% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on ARES. Bank of America dropped their price target on shares of Ares Management from $221.00 to $201.00 and set a "buy" rating on the stock in a research report on Friday, April 4th. JMP Securities lifted their price target on shares of Ares Management from $165.00 to $185.00 and gave the stock a "market outperform" rating in a report on Thursday, May 8th. Wells Fargo & Company increased their price objective on Ares Management from $182.00 to $189.00 and gave the company an "overweight" rating in a report on Friday, May 23rd. Citizens Jmp raised Ares Management from a "market perform" rating to an "outperform" rating and set a $165.00 price target on the stock in a research report on Tuesday, April 8th. Finally, Oppenheimer downgraded shares of Ares Management from an "outperform" rating to a "market perform" rating in a report on Thursday, May 15th. One analyst has rated the stock with a sell rating, four have given a hold rating and twelve have given a buy rating to the company. According to MarketBeat, Ares Management presently has a consensus rating of "Moderate Buy" and a consensus target price of $174.94.

Ares Management Company 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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