Burling Wealth Partners LLC Boosts Stake in Ares Management Corporation $ARES

Burling Wealth Partners LLC raised its holdings in shares of Ares Management Corporation (NYSE:ARES) by 18.9% in the 2nd quarter, Holdings Channel reports. The firm owned 20,679 shares of the asset manager’s stock after purchasing an additional 3,288 shares during the quarter. Burling Wealth Partners LLC’s holdings in Ares Management were worth $3,582,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in ARES. Candriam S.C.A. bought a new position in Ares Management in the second quarter worth approximately $3,137,000. Police & Firemen s Retirement System of New Jersey boosted its stake in Ares Management by 5.1% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 28,534 shares of the asset manager’s stock worth $4,942,000 after purchasing an additional 1,383 shares in the last quarter. Geode Capital Management LLC lifted its position in Ares Management by 7.6% during the 2nd quarter. Geode Capital Management LLC now owns 3,454,083 shares of the asset manager’s stock worth $596,280,000 after acquiring an additional 244,286 shares during the period. Wealth Alliance LLC lifted its stake in Ares Management by 30.6% during the 2nd quarter. Wealth Alliance LLC now owns 4,388 shares of the asset manager’s stock valued at $760,000 after acquiring an additional 1,027 shares during the period. Finally, Forsta AP Fonden boosted its stake in shares of Ares Management by 8.6% in the second quarter. Forsta AP Fonden now owns 44,200 shares of the asset manager’s stock worth $7,655,000 after buying an additional 3,500 shares during the last quarter. 50.03% of the stock is owned by hedge funds and other institutional investors.

Ares Management Trading Down 3.3%

Shares of ARES stock opened at $148.61 on Friday. The business’s fifty day moving average price is $158.98 and its 200 day moving average price is $168.87. The firm has a market capitalization of $48.55 billion, a PE ratio of 85.90, a P/E/G ratio of 1.19 and a beta of 1.45. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.08 and a quick ratio of 1.08. Ares Management Corporation has a 1-year low of $110.63 and a 1-year high of $200.49.

Ares Management (NYSE:ARES) last issued its earnings results on Friday, October 31st. The asset manager reported $1.19 EPS for the quarter, topping the consensus estimate of $1.14 by $0.05. Ares Management had a net margin of 9.47% and a return on equity of 15.81%. The company had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same period in the previous year, the firm earned $0.55 EPS. As a group, sell-side analysts forecast that Ares Management Corporation will post 5.28 EPS for the current fiscal year.

Ares Management Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 17th will be issued a $0.8438 dividend. The ex-dividend date of this dividend is Wednesday, December 17th. This represents a $3.38 dividend on an annualized basis and a yield of 2.3%. Ares Management’s dividend payout ratio (DPR) is 192.27%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on ARES shares. JMP Securities increased their price target on Ares Management from $195.00 to $205.00 and gave the stock a “market outperform” rating in a research report on Wednesday, August 6th. Royal Bank Of Canada reiterated an “outperform” rating and set a $215.00 price target on shares of Ares Management in a report on Monday, September 29th. Barclays dropped their target price on Ares Management from $200.00 to $187.00 and set an “overweight” rating for the company in a research report on Wednesday, October 8th. Bank of America boosted their price objective on Ares Management from $196.00 to $197.00 and gave the stock a “buy” rating in a research report on Friday, October 3rd. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Ares Management in a report on Tuesday. Thirteen investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $187.46.

Insider Activity

In other news, Chairman Antony P. Ressler sold 128,837 shares of the business’s stock in a transaction that occurred on Wednesday, September 10th. The stock was sold at an average price of $178.30, for a total transaction of $22,971,637.10. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In the last three months, insiders have sold 2,533,796 shares of company stock worth $453,825,507. 0.52% of the stock is currently owned by company insiders.

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.