Pallas Capital Advisors LLC Acquires 447 Shares of Ares Management Corporation $ARES

Pallas Capital Advisors LLC grew its position in Ares Management Corporation (NYSE:ARES) by 1.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,466 shares of the asset manager’s stock after purchasing an additional 447 shares during the period. Pallas Capital Advisors LLC’s holdings in Ares Management were worth $5,103,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. MassMutual Private Wealth & Trust FSB raised its holdings in shares of Ares Management by 27.0% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,518 shares of the asset manager’s stock valued at $263,000 after purchasing an additional 323 shares during the last quarter. RMR Wealth Builders raised its holdings in shares of Ares Management by 10.1% in the second quarter. RMR Wealth Builders now owns 1,674 shares of the asset manager’s stock valued at $290,000 after purchasing an additional 154 shares during the last quarter. E. Ohman J or Asset Management AB raised its holdings in shares of Ares Management by 276.5% in the second quarter. E. Ohman J or Asset Management AB now owns 8,660 shares of the asset manager’s stock valued at $1,500,000 after purchasing an additional 6,360 shares during the last quarter. Parallel Advisors LLC raised its holdings in shares of Ares Management by 7.2% in the second quarter. Parallel Advisors LLC now owns 10,888 shares of the asset manager’s stock valued at $1,886,000 after purchasing an additional 731 shares during the last quarter. Finally, Osprey Private Wealth LLC raised its holdings in shares of Ares Management by 1.6% in the second quarter. Osprey Private Wealth LLC now owns 34,765 shares of the asset manager’s stock valued at $6,187,000 after purchasing an additional 550 shares during the last quarter. Hedge funds and other institutional investors own 50.03% of the company’s stock.

Ares Management Price Performance

Shares of NYSE:ARES opened at $178.53 on Wednesday. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.64. The firm has a market capitalization of $58.33 billion, a PE ratio of 103.20, a P/E/G ratio of 1.41 and a beta of 1.44. Ares Management Corporation has a twelve month low of $110.63 and a twelve month high of $200.49. The company has a 50-day moving average price of $182.36 and a two-hundred day moving average price of $165.77.

Ares Management (NYSE:ARES) last issued its earnings results on Friday, August 1st. The asset manager reported $1.03 earnings per share for the quarter, missing analysts’ consensus estimates of $1.15 by ($0.12). The business had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.02 billion. Ares Management had a return on equity of 15.81% and a net margin of 9.47%.During the same quarter in the prior year, the business earned $0.99 EPS. Equities analysts forecast that Ares Management Corporation will post 5.28 EPS for the current year.

Ares Management Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th will be given a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date is Tuesday, September 16th. Ares Management’s dividend payout ratio (DPR) is 258.96%.

Insider Buying and Selling

In other news, Chairman Antony P. Ressler sold 196,197 shares of the firm’s stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $178.79, for a total value of $35,078,061.63. Following the completion of the transaction, the chairman directly owned 1,424,538 shares in the company, valued at approximately $254,693,149.02. This trade represents a 12.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael J. Arougheti sold 136,516 shares of the firm’s stock in a transaction that occurred on Tuesday, August 19th. The shares were 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 of the company’s stock, valued at $56,965,174.72. This trade represents a 30.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,590,000 shares of company stock valued at $464,430,639 over the last 90 days. 0.52% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Citigroup restated an “outperform” rating on shares of Ares Management in a report on Monday, July 14th. JMP Securities raised their price objective on shares of Ares Management from $195.00 to $205.00 and gave the stock a “market outperform” rating in a report on Wednesday, August 6th. Keefe, Bruyette & Woods raised their price objective on shares of Ares Management from $193.00 to $203.00 and gave the stock an “outperform” rating in a report on Monday, August 4th. Raymond James Financial assumed coverage on shares of Ares Management in a report on Monday, July 28th. They set a “market perform” rating for the company. Finally, Barclays raised their price objective on shares of Ares Management from $182.00 to $200.00 and gave the stock an “overweight” rating in a report on Thursday, July 10th. Thirteen equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $182.73.

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.