Fiduciary Family Office LLC Takes Position in Ares Management Co. (NYSE:ARES)

Fiduciary Family Office LLC purchased a new position in Ares Management Co. (NYSE:ARES - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 6,078 shares of the asset manager's stock, valued at approximately $810,000.

Several other hedge funds have also added to or reduced their stakes in the business. Curated Wealth Partners LLC raised its stake in shares of Ares Management by 199.7% during the second quarter. Curated Wealth Partners LLC now owns 1,658,217 shares of the asset manager's stock valued at $221,007,000 after acquiring an additional 3,321,434 shares during the last quarter. LRI Investments LLC bought a new position in shares of Ares Management during the first quarter valued at about $264,729,000. Norges Bank bought a new position in shares of Ares Management during the fourth quarter valued at about $205,499,000. M&G Plc increased its position 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 buying an additional 889,872 shares during the period. Finally, Corient Private Wealth LLC increased its position in shares of Ares Management by 216.3% during the fourth quarter. Corient Private Wealth LLC now owns 1,253,644 shares of the asset manager's stock valued at $149,083,000 after buying an additional 857,245 shares during the period. 50.03% of the stock is owned by institutional investors.

Ares Management Stock Down 3.0 %

Shares of NYSE ARES traded down $4.37 during midday trading on Tuesday, hitting $142.03. The stock had a trading volume of 900,956 shares, compared to its average volume of 1,136,417. The business's 50 day moving average is $142.57 and its 200-day moving average is $138.08. The company has a market cap of $44.00 billion, a P/E ratio of 65.65, a PEG ratio of 1.38 and a beta of 1.22. Ares Management Co. has a 52 week low of $96.00 and a 52 week high of $155.53. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.52.

Ares Management (NYSE:ARES - Get Free Report) last issued its earnings results on Friday, August 2nd. The asset manager reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.01. The firm had revenue of $788.68 million for the quarter, compared to the consensus estimate of $860.09 million. Ares Management had a net margin of 12.53% and a return on equity of 20.46%. During the same quarter in the prior year, the firm posted $0.90 earnings per share. As a group, analysts predict that Ares Management Co. will post 4.15 EPS for the current year.

Ares Management Dividend Announcement

The business 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 dividend on an annualized basis and a yield of 2.62%. Ares Management's dividend payout ratio (DPR) is 166.82%.

Wall Street Analysts Forecast Growth

ARES has been the topic of several research analyst reports. TD Cowen boosted their price target on shares of Ares Management from $158.00 to $162.00 and gave the company a "buy" rating in a research report on Monday, August 5th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Ares Management from $134.00 to $133.00 and set a "hold" rating on the stock in a research report on Thursday, August 15th. JPMorgan Chase & Co. boosted their price target on shares of Ares Management from $141.00 to $143.00 and gave the company an "overweight" rating in a research report on Tuesday, July 30th. UBS Group reduced their price target on shares of Ares Management from $160.00 to $158.00 and set a "buy" rating on the stock in a research report on Wednesday, July 10th. Finally, Royal Bank of Canada restated an "outperform" rating and issued a $150.00 price objective on shares of Ares Management in a report on Wednesday, May 22nd. One investment analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $138.92.

Insider Activity at Ares Management

In other Ares Management news, CEO Michael J. Arougheti sold 27,120 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $145.67, for a total value of $3,950,570.40. Following the transaction, the chief executive officer now directly owns 222,880 shares in the company, valued at $32,466,929.60. 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, CEO Michael J. Arougheti sold 27,120 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $145.67, for a total value of $3,950,570.40. Following the transaction, the chief executive officer now directly owns 222,880 shares in the company, valued at $32,466,929.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider David B. Kaplan sold 125,000 shares of the stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $131.94, for a total transaction of $16,492,500.00. The disclosure for this sale can be found here. Insiders have sold a total of 688,653 shares of company stock worth $96,639,724 over the last quarter. Company insiders own 1.20% of the company's stock.

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.