Tower Wealth Partners Inc. Buys New Position in Ares Management Corporation $ARES

Tower Wealth Partners Inc. bought a new stake in Ares Management Corporation (NYSE:ARES) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 1,293 shares of the asset manager’s stock, valued at approximately $224,000.

Several other institutional investors have also recently added to or reduced their stakes in ARES. Redmont Wealth Advisors LLC acquired a new position in Ares Management in the 1st quarter valued at about $28,000. Financial Network Wealth Advisors LLC purchased a new stake in Ares Management in the 1st quarter valued at about $31,000. Rakuten Securities Inc. grew its holdings in Ares Management by 3,262.5% in the 1st quarter. Rakuten Securities Inc. now owns 269 shares of the asset manager’s stock valued at $39,000 after buying an additional 261 shares during the period. Banque Transatlantique SA purchased a new stake in Ares Management in the 1st quarter valued at about $39,000. Finally, Ameritas Advisory Services LLC purchased a new stake in Ares Management in the 2nd quarter valued at about $43,000. Institutional investors and hedge funds own 50.03% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on ARES. Barclays lowered their price target on Ares Management from $200.00 to $187.00 and set an “overweight” rating for the company in a report on Wednesday, October 8th. JMP Securities lifted their price target on Ares Management from $195.00 to $205.00 and gave the company a “market outperform” rating in a report on Wednesday, August 6th. Weiss Ratings restated a “hold (c)” rating on shares of Ares Management in a report on Tuesday. Royal Bank Of Canada restated an “outperform” rating and issued a $215.00 price target on shares of Ares Management in a report on Monday, September 29th. Finally, BMO Capital Markets started coverage on Ares Management in a report on Friday, October 3rd. They issued a “market perform” rating and a $156.00 price target for the company. Fourteen analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $181.31.

Insider Buying and Selling

In other Ares Management news, Chairman Antony P. Ressler sold 196,197 shares of the company’s stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $178.79, for a total value of $35,078,061.63. Following the completion of the transaction, the chairman owned 1,424,538 shares in the company, valued at $254,693,149.02. This represents a 12.11% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael J. Arougheti sold 136,516 shares of the company’s stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $182.74, for a total value of $24,946,933.84. Following the completion of the transaction, the chief executive officer owned 311,728 shares of the company’s stock, valued at approximately $56,965,174.72. This represents a 30.46% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,590,000 shares of company stock valued at $464,430,639. 36.86% of the stock is owned by company insiders.

Ares Management Stock Up 0.9%

Shares of NYSE:ARES opened at $151.00 on Thursday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.08 and a current ratio of 1.08. Ares Management Corporation has a 1 year low of $110.63 and a 1 year high of $200.49. The stock has a market capitalization of $49.33 billion, a P/E ratio of 87.28, a PEG ratio of 1.18 and a beta of 1.43. The stock has a 50-day simple moving average of $172.82 and a 200-day simple moving average of $167.09.

Ares Management (NYSE:ARES) last released its quarterly earnings results on Friday, August 1st. The asset manager reported $1.03 earnings per share for the quarter, missing analysts’ consensus estimates of $1.15 by ($0.12). The company had revenue of $1.35 billion during the quarter, compared to analysts’ expectations 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 in the prior year, the company earned $0.99 EPS. Equities analysts forecast that Ares Management Corporation will post 5.28 earnings per share for the current year.

Ares Management Dividend Announcement

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

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.