Burling Wealth Partners LLC Buys 3,288 Shares of Ares Management Corporation $ARES

Burling Wealth Partners LLC grew its position in shares of Ares Management Corporation (NYSE:ARES) by 18.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor 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 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Financial Network Wealth Advisors LLC bought a new stake in Ares Management during the first quarter valued at $31,000. Banque Transatlantique SA purchased a new position in Ares Management during the first quarter worth about $39,000. Ameritas Advisory Services LLC bought a new position in Ares Management in the 2nd quarter valued at $43,000. SouthState Corp bought a new position in shares of Ares Management during the 1st quarter valued at approximately $48,000. Finally, GW&K Investment Management LLC grew its stake in shares of Ares Management by 69.5% during the 1st quarter. GW&K Investment Management LLC now owns 373 shares of the asset manager’s stock worth $55,000 after acquiring an additional 153 shares during the period. 50.03% of the stock is currently owned by institutional investors.

Ares Management Stock Performance

NYSE:ARES opened at $148.61 on Friday. The stock has a 50-day simple moving average of $158.98 and a two-hundred day simple moving average of $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. Ares Management Corporation has a 52-week low of $110.63 and a 52-week high of $200.49. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.08 and a current ratio of 1.08.

Ares Management (NYSE:ARES) last issued its quarterly earnings results on Friday, October 31st. The asset manager reported $1.19 earnings per share for the quarter, beating the consensus estimate of $1.14 by $0.05. The business had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $1.03 billion. Ares Management had a net margin of 9.47% and a return on equity of 15.81%. During the same quarter in the previous year, the firm earned $0.55 earnings per share. Analysts forecast that Ares Management Corporation will post 5.28 EPS for the current year.

Ares Management Cuts Dividend

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

Insider Buying and Selling at Ares Management

In other Ares Management news, CEO Michael J. Arougheti sold 136,516 shares of the firm’s stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $182.74, for a total transaction of $24,946,933.84. Following the completion of the transaction, the chief executive officer owned 311,728 shares in the company, valued at $56,965,174.72. This trade represents a 30.46% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Chairman Antony P. Ressler sold 196,197 shares of the business’s stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $178.79, for a total transaction of $35,078,061.63. Following the completion of the sale, the chairman owned 1,424,538 shares in the company, valued at $254,693,149.02. This represents a 12.11% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 2,533,796 shares of company stock worth $453,825,507 in the last three months. Insiders own 0.52% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on ARES shares. Keefe, Bruyette & Woods lifted their target price on Ares Management from $188.00 to $189.00 and gave the company an “outperform” rating in a report on Tuesday, November 4th. Oppenheimer set a $190.00 price target on shares of Ares Management and gave the company an “outperform” rating in a report on Tuesday, November 4th. JMP Securities raised their target price on shares of Ares Management from $195.00 to $205.00 and gave the stock a “market outperform” rating in a research report on Wednesday, August 6th. Cowen restated a “buy” rating on shares of Ares Management in a report on Tuesday, November 4th. Finally, Citigroup reissued a “market outperform” rating on shares of Ares Management in a report on Tuesday, October 21st. Thirteen equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $187.46.

About Ares Management

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.