Blue Barn Wealth LLC Purchases 174 Shares of Ares Management Co. (NYSE:ARES)

Blue Barn Wealth LLC boosted its holdings in shares of Ares Management Co. (NYSE:ARES) by 10.4% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,846 shares of the asset manager’s stock after purchasing an additional 174 shares during the period. Blue Barn Wealth LLC’s holdings in Ares Management were worth $246,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. Compass Wealth Management LLC bought a new stake in shares of Ares Management during the 1st quarter valued at approximately $28,000. Riverview Trust Co bought a new stake in shares of Ares Management during the first quarter worth $29,000. West Oak Capital LLC increased its holdings in shares of Ares Management by 66.7% during the first quarter. West Oak Capital LLC now owns 250 shares of the asset manager’s stock worth $33,000 after buying an additional 100 shares in the last quarter. Global Retirement Partners LLC lifted its stake in shares of Ares Management by 555.0% in the 1st quarter. Global Retirement Partners LLC now owns 262 shares of the asset manager’s stock valued at $35,000 after acquiring an additional 222 shares during the last quarter. Finally, J.Safra Asset Management Corp boosted its holdings in shares of Ares Management by 717.6% during the 1st quarter. J.Safra Asset Management Corp now owns 278 shares of the asset manager’s stock valued at $37,000 after acquiring an additional 244 shares in the last quarter. Institutional investors and hedge funds own 50.03% of the company’s stock.

Insider Buying and Selling at Ares Management

In other news, Chairman Bennett Rosenthal sold 26,579 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $142.66, for a total value of $3,791,760.14. Following the completion of the sale, the chairman now directly owns 75,000 shares of the company’s stock, valued at $10,699,500. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, Chairman Bennett Rosenthal sold 26,579 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $142.66, for a total value of $3,791,760.14. Following the completion of the sale, the chairman now owns 75,000 shares in the company, valued at approximately $10,699,500. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Michael J. Arougheti sold 14,962 shares of the firm’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $145.62, for a total transaction of $2,178,766.44. Following the transaction, the chief executive officer now directly owns 1,375,000 shares in the company, valued at $200,227,500. The disclosure for this sale can be found here. In the last quarter, insiders sold 711,815 shares of company stock worth $99,973,606. Insiders own 1.20% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Redburn Atlantic began coverage on Ares Management in a report on Tuesday, August 27th. They issued a “neutral” rating and a $140.00 target price for the company. Jefferies Financial Group dropped their price objective on shares of Ares Management from $131.00 to $127.00 and set a “hold” rating for the company in a report on Thursday, May 9th. UBS Group cut their target price 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. JPMorgan Chase & Co. upped 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. Finally, TD Cowen lifted their price target on shares of Ares Management from $158.00 to $162.00 and gave the stock a “buy” rating in a report on Monday, August 5th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $138.92.

Ares Management Stock Down 0.3 %

ARES stock opened at $140.59 on Friday. The stock’s 50 day simple moving average is $142.92 and its 200 day simple moving average is $138.17. The company has a market cap of $43.56 billion, a P/E ratio of 63.27, a price-to-earnings-growth ratio of 1.38 and a beta of 1.22. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.05 and a current ratio of 1.05. Ares Management Co. has a fifty-two week low of $96.00 and a fifty-two week high of $155.53.

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

Ares Management Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be paid a dividend of $0.93 per share. The ex-dividend date of this dividend is Monday, September 16th. This represents a $3.72 dividend on an annualized basis and a yield of 2.65%. Ares Management’s dividend payout ratio (DPR) is currently 166.82%.

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.