Tower Wealth Partners Inc. Buys Shares of 1,293 Ares Management Corporation $ARES

Tower Wealth Partners Inc. bought a new stake in Ares Management Corporation (NYSE:ARES) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 1,293 shares of the asset manager’s stock, valued at approximately $224,000.

A number of other institutional investors also recently made changes to their positions in ARES. Vanguard Group Inc. raised its position in shares of Ares Management by 2.0% in the 1st quarter. Vanguard Group Inc. now owns 19,189,991 shares of the asset manager’s stock valued at $2,813,445,000 after purchasing an additional 382,273 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Ares Management by 24.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,208,292 shares of the asset manager’s stock valued at $177,148,000 after purchasing an additional 240,564 shares in the last quarter. Strs Ohio acquired a new position in shares of Ares Management in the 1st quarter valued at approximately $26,350,000. Westfield Capital Management Co. LP raised its position in shares of Ares Management by 18.3% in the 1st quarter. Westfield Capital Management Co. LP now owns 1,128,415 shares of the asset manager’s stock valued at $165,437,000 after purchasing an additional 174,645 shares in the last quarter. Finally, Principal Financial Group Inc. raised its position in shares of Ares Management by 4.8% in the 1st quarter. Principal Financial Group Inc. now owns 3,354,032 shares of the asset manager’s stock valued at $491,735,000 after purchasing an additional 152,169 shares in the last quarter. 50.03% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO Michael J. Arougheti sold 136,516 shares of the company’s stock in a transaction 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 directly owned 311,728 shares in the company, valued at $56,965,174.72. This represents a 30.46% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Antony P. Ressler sold 196,197 shares of the company’s stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $178.79, for a total value of $35,078,061.63. Following the transaction, the chairman owned 1,424,538 shares of the company’s stock, valued at approximately $254,693,149.02. The trade was a 12.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,590,000 shares of company stock valued at $464,430,639. 36.86% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Citigroup reissued an “outperform” rating on shares of Ares Management in a research report on Monday, July 14th. Weiss Ratings reissued a “hold (c)” rating on shares of Ares Management in a research report on Tuesday. JMP Securities upped their price target on Ares Management from $195.00 to $205.00 and gave the company a “market outperform” rating in a research report on Wednesday, August 6th. BMO Capital Markets assumed coverage on Ares Management in a research report on Friday, October 3rd. They set a “market perform” rating and a $156.00 price target on the stock. Finally, Keefe, Bruyette & Woods upped their price target on Ares Management from $193.00 to $203.00 and gave the company an “outperform” rating in a research report on Monday, August 4th. Fourteen research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $181.31.

Ares Management Price Performance

Shares of ARES opened at $151.00 on Thursday. The company has a market cap of $49.33 billion, a P/E ratio of 87.28, a PEG ratio of 1.18 and a beta of 1.43. The stock has a fifty day moving average price of $172.82 and a 200 day moving average price of $167.09. 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 12 month low of $110.63 and a 12 month high of $200.49.

Ares Management (NYSE:ARES) last issued its quarterly earnings data on Friday, August 1st. The asset manager reported $1.03 EPS for the quarter, missing analysts’ consensus estimates of $1.15 by ($0.12). The company 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 previous year, the company earned $0.99 earnings per share. On average, research analysts forecast that Ares Management Corporation will post 5.28 earnings per share for the current year.

Ares Management Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th were paid a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date was Tuesday, September 16th. Ares Management’s dividend payout ratio is presently 258.96%.

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.