Wealthspire Advisors LLC Sells 112 Shares of Ares Management Co. (NYSE:ARES)

Wealthspire Advisors LLC trimmed its stake in Ares Management Co. (NYSE:ARES) by 6.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,671 shares of the asset manager’s stock after selling 112 shares during the period. Wealthspire Advisors LLC’s holdings in Ares Management were worth $223,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Curated Wealth Partners LLC boosted its stake in Ares Management by 199.7% in the second quarter. Curated Wealth Partners LLC now owns 1,658,217 shares of the asset manager’s stock worth $221,007,000 after buying an additional 3,321,434 shares in the last quarter. LRI Investments LLC purchased a new stake in shares of Ares Management during the first quarter valued at approximately $264,729,000. Norges Bank purchased a new stake in shares of Ares Management during the fourth quarter valued at approximately $205,499,000. M&G Plc raised its holdings in shares of Ares Management by 711.1% during the second quarter. M&G Plc now owns 1,015,009 shares of the asset manager’s stock valued at $134,996,000 after acquiring an additional 889,872 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of Ares Management by 4.0% during the fourth quarter. Vanguard Group Inc. now owns 16,392,349 shares of the asset manager’s stock valued at $1,949,378,000 after acquiring an additional 631,334 shares in the last quarter. 50.03% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on ARES. Barclays upped their target price on Ares Management from $151.00 to $155.00 and gave the company an “overweight” rating in a report on Monday, August 5th. Deutsche Bank Aktiengesellschaft decreased their target price on Ares Management from $134.00 to $133.00 and set a “hold” rating for the company in a report on Thursday, August 15th. TD Cowen upped their target price on Ares Management from $158.00 to $162.00 and gave the company a “buy” rating in a report on Monday, August 5th. JPMorgan Chase & Co. upped their target price on Ares Management from $141.00 to $143.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Finally, Redburn Atlantic began coverage on Ares Management in a report on Tuesday, August 27th. They set a “neutral” rating and a $140.00 target price for the company. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $141.42.

Ares Management Price Performance

Shares of NYSE:ARES opened at $152.81 on Wednesday. Ares Management Co. has a 1-year low of $96.00 and a 1-year high of $155.53. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.05 and a quick ratio of 1.05. The business has a fifty day moving average price of $144.15 and a 200-day moving average price of $138.90. The company has a market capitalization of $47.34 billion, a PE ratio of 68.52, a PEG ratio of 1.33 and a beta of 1.21.

Ares Management (NYSE:ARES) last issued its quarterly earnings results on Friday, August 2nd. The asset manager reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.01. Ares Management had a return on equity of 20.46% and a net margin of 12.53%. The firm had revenue of $788.68 million during the quarter, compared to the consensus estimate of $860.09 million. During the same period last year, the company earned $0.90 earnings per share. As a group, equities analysts expect that Ares Management Co. will post 4.15 EPS for the current fiscal year.

Ares Management Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors 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 2.43%. Ares Management’s dividend payout ratio (DPR) is presently 166.82%.

Insider Activity at Ares Management

In related news, Chairman Bennett Rosenthal sold 150,000 shares of the stock in a transaction on Friday, June 21st. The stock was sold at an average price of $131.94, for a total transaction of $19,791,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Ares Management news, insider David B. Kaplan sold 125,000 shares of the firm’s stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $131.94, for a total value of $16,492,500.00. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Chairman Bennett Rosenthal sold 150,000 shares of the firm’s stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $131.94, for a total value of $19,791,000.00. The disclosure for this sale can be found here. Insiders have sold 866,816 shares of company stock valued at $122,071,500 over the last ninety days. Insiders own 1.20% 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.