Premier Path Wealth Partners LLC Acquires 400 Shares of Ares Management Co. (NYSE:ARES)

Premier Path Wealth Partners LLC raised its holdings in shares of Ares Management Co. (NYSE:ARES) by 16.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,874 shares of the asset manager’s stock after buying an additional 400 shares during the quarter. Premier Path Wealth Partners LLC’s holdings in Ares Management were worth $383,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. International Assets Investment Management LLC bought a new stake in shares of Ares Management in the fourth quarter valued at about $216,650,000. Mackenzie Financial Corp lifted its position in shares of Ares Management by 3.6% in the 4th quarter. Mackenzie Financial Corp now owns 7,030 shares of the asset manager’s stock worth $836,000 after acquiring an additional 243 shares during the period. abrdn plc acquired a new stake in shares of Ares Management during the 4th quarter worth approximately $231,000. Lindbrook Capital LLC increased its position in shares of Ares Management by 76.7% during the fourth quarter. Lindbrook Capital LLC now owns 318 shares of the asset manager’s stock valued at $38,000 after purchasing an additional 138 shares during the period. Finally, Signaturefd LLC raised its stake in shares of Ares Management by 32.7% in the fourth quarter. Signaturefd LLC now owns 1,117 shares of the asset manager’s stock valued at $133,000 after purchasing an additional 275 shares in the last quarter. 50.03% of the stock is owned by institutional investors.

Insider Activity

In related news, Chairman Bennett Rosenthal sold 100,000 shares of Ares Management stock in a transaction that occurred on Friday, May 31st. The shares were sold at an average price of $140.41, for a total transaction of $14,041,000.00. Following the transaction, the chairman now owns 150,000 shares of the company’s stock, valued at approximately $21,061,500. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Ares Management news, Chairman Bennett Rosenthal sold 100,000 shares of Ares Management stock in a transaction dated Friday, May 31st. The stock was sold at an average price of $140.41, for a total transaction of $14,041,000.00. Following the transaction, the chairman now directly owns 150,000 shares in the company, valued at $21,061,500. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider David B. Kaplan sold 15,798 shares of the stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $144.10, for a total value of $2,276,491.80. Following the completion of the sale, the insider now owns 155,976 shares of the company’s stock, valued at $22,476,141.60. The disclosure for this sale can be found here. Insiders sold a total of 704,477 shares of company stock valued at $97,659,456 in the last ninety days. 1.20% of the stock is owned by insiders.

Analyst Ratings Changes

ARES has been the topic of a number of recent research reports. JPMorgan Chase & Co. lifted their price target on shares of Ares Management from $141.00 to $143.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. TD Cowen upped their target price on shares of Ares Management from $158.00 to $162.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Royal Bank of Canada restated an “outperform” rating and set a $150.00 price target on shares of Ares Management in a research note on Wednesday, May 22nd. Deutsche Bank Aktiengesellschaft lowered their price objective on Ares Management from $134.00 to $133.00 and set a “hold” rating on the stock in a research note on Thursday, August 15th. Finally, Barclays raised their target price on Ares Management from $151.00 to $155.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $138.82.

Ares Management Trading Up 2.4 %

Shares of NYSE ARES traded up $3.51 during mid-day trading on Friday, hitting $147.01. The company’s stock had a trading volume of 1,164,051 shares, compared to its average volume of 1,141,590. Ares Management Co. has a one year low of $96.00 and a one year high of $155.53. The company’s fifty day simple moving average is $141.15 and its 200-day simple moving average is $137.53. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.03 and a quick ratio of 1.03. The stock has a market cap of $45.55 billion, a price-to-earnings ratio of 65.92, a price-to-earnings-growth ratio of 1.29 and a beta of 1.22.

Ares Management (NYSE:ARES) last announced its quarterly earnings data on Friday, August 2nd. The asset manager reported $0.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.98 by $0.01. The firm had revenue of $788.68 million for the quarter, compared to analysts’ expectations of $860.09 million. Ares Management had a net margin of 12.86% and a return on equity of 21.22%. During the same period last year, the firm earned $0.90 earnings per share. On average, sell-side analysts anticipate that Ares Management Co. will post 4.23 earnings per share for the current fiscal year.

Ares Management Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be given a dividend of $0.93 per share. The ex-dividend date is Monday, September 16th. This represents a $3.72 annualized dividend and a dividend yield of 2.53%. Ares Management’s payout ratio is currently 166.82%.

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.