Private Wealth Partners LLC Acquires New Position in Ares Management Corporation $ARES

Private Wealth Partners LLC acquired a new stake in Ares Management Corporation (NYSE:ARES) during the second quarter, Holdings Channel reports. The firm acquired 5,640 shares of the asset manager’s stock, valued at approximately $977,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ARES. Vanguard Group Inc. raised its stake in Ares Management by 2.0% in the 1st quarter. Vanguard Group Inc. now owns 19,189,991 shares of the asset manager’s stock valued at $2,813,445,000 after acquiring an additional 382,273 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Ares Management by 24.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,208,292 shares of the asset manager’s stock valued at $177,148,000 after acquiring an additional 240,564 shares during the period. Strs Ohio bought a new stake in Ares Management in the 1st quarter valued at about $26,350,000. Westfield Capital Management Co. LP raised its stake in Ares Management by 18.3% in the 1st quarter. Westfield Capital Management Co. LP now owns 1,128,415 shares of the asset manager’s stock valued at $165,437,000 after acquiring an additional 174,645 shares during the period. Finally, Principal Financial Group Inc. increased its position in shares of Ares Management by 4.8% during the first quarter. Principal Financial Group Inc. now owns 3,354,032 shares of the asset manager’s stock valued at $491,735,000 after buying an additional 152,169 shares during the period. 50.03% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Chairman Antony P. Ressler sold 128,837 shares of the firm’s stock in a transaction on Wednesday, September 10th. The stock was sold at an average price of $178.30, for a total value of $22,971,637.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold a total of 2,590,000 shares of company stock valued at $464,430,639 over the last ninety days. Company insiders own 36.86% of the company’s stock.

Ares Management Stock Up 1.0%

Shares of ARES opened at $150.85 on Tuesday. The firm has a market cap of $49.28 billion, a P/E ratio of 87.20, a P/E/G ratio of 1.18 and a beta of 1.43. The stock has a 50 day simple moving average of $166.12 and a two-hundred day simple moving average of $168.20. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.08 and a quick ratio of 1.08. Ares Management Corporation has a 1 year low of $110.63 and a 1 year high of $200.49.

Ares Management (NYSE:ARES) last announced its quarterly earnings data 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). Ares Management had a net margin of 9.47% and a return on equity of 15.81%. The company had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.02 billion. During the same quarter in the previous year, the firm posted $0.99 EPS. On average, analysts forecast that Ares Management Corporation will post 5.28 earnings per share for the current fiscal year.

Ares Management Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th were given a $1.12 dividend. The ex-dividend date was Tuesday, September 16th. This represents a $4.48 annualized dividend and a yield of 3.0%. Ares Management’s payout ratio is presently 258.96%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Morgan Stanley decreased their price target on Ares Management from $178.00 to $175.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 21st. Royal Bank Of Canada reiterated an “outperform” rating and set a $215.00 price target on shares of Ares Management in a research report on Monday, September 29th. Barclays decreased their price target on Ares Management from $200.00 to $187.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 8th. Oppenheimer set a $180.00 price target on Ares Management and gave the company an “outperform” rating in a research report on Tuesday, October 14th. Finally, Wells Fargo & Company upped 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. Thirteen research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $181.93.

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.