Paladin Wealth LLC Invests $164,000 in Ares Management Co. (NYSE:ARES)

Paladin Wealth LLC bought a new position in Ares Management Co. (NYSE:ARES) during the third quarter, Holdings Channel.com reports. The fund bought 1,051 shares of the asset manager’s stock, valued at approximately $164,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. EP Wealth Advisors LLC increased its stake in Ares Management by 32.5% in the 1st quarter. EP Wealth Advisors LLC now owns 20,345 shares of the asset manager’s stock worth $2,705,000 after purchasing an additional 4,996 shares in the last quarter. Norden Group LLC raised its holdings in shares of Ares Management by 2,695.3% during the first quarter. Norden Group LLC now owns 70,414 shares of the asset manager’s stock valued at $9,364,000 after acquiring an additional 67,895 shares during the period. Sumitomo Mitsui Trust Holdings Inc. lifted its position in shares of Ares Management by 17.7% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 397,285 shares of the asset manager’s stock valued at $52,831,000 after acquiring an additional 59,668 shares in the last quarter. FORA Capital LLC acquired a new position in Ares Management in the 1st quarter worth approximately $3,434,000. Finally, Vaughan Nelson Investment Management L.P. grew its position in Ares Management by 24.6% during the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 192,634 shares of the asset manager’s stock worth $25,674,000 after purchasing an additional 38,047 shares in the last quarter. 50.03% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. The Goldman Sachs Group increased their target price on Ares Management from $145.00 to $160.00 and gave the company a “buy” rating in a report on Monday, September 30th. Royal Bank of Canada increased their price objective on Ares Management from $150.00 to $170.00 and gave the stock an “outperform” rating in a research note on Friday. Morgan Stanley lifted their target price on Ares Management from $136.00 to $162.00 and gave the company an “equal weight” rating in a research note on Thursday. Wells Fargo & Company increased their price target on shares of Ares Management from $156.00 to $172.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 9th. Finally, TD Cowen raised their price target on shares of Ares Management from $162.00 to $175.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $155.82.

Ares Management Price Performance

NYSE ARES opened at $161.95 on Monday. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $50.17 billion, a PE ratio of 72.62, a price-to-earnings-growth ratio of 1.48 and a beta of 1.22. Ares Management Co. has a 12-month low of $96.00 and a 12-month high of $162.37. The company has a 50 day moving average price of $148.14 and a two-hundred day moving average price of $141.86.

Ares Management (NYSE:ARES) last released its quarterly earnings data on Friday, August 2nd. The asset manager reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.01. The business had revenue of $788.68 million during the quarter, compared to analyst estimates of $860.09 million. Ares Management had a net margin of 12.53% and a return on equity of 20.46%. During the same quarter in the previous year, the business earned $0.90 EPS. As a group, equities analysts predict that Ares Management Co. will post 4.16 earnings per share for the current fiscal year.

Ares Management Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were paid a dividend of $0.93 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $3.72 annualized dividend and a dividend yield of 2.30%. Ares Management’s dividend payout ratio (DPR) is presently 166.82%.

Insider Activity

In related news, CEO Michael J. Arougheti sold 27,120 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $145.67, for a total value of $3,950,570.40. Following the completion of the sale, the chief executive officer now directly owns 222,880 shares in the company, valued at approximately $32,466,929.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, insider Ryan Berry sold 20,000 shares of the firm’s stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $160.07, for a total value of $3,201,400.00. Following the sale, the insider now directly owns 344,202 shares of the company’s stock, valued at approximately $55,096,414.14. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Michael J. Arougheti sold 27,120 shares of Ares Management stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $145.67, for a total value of $3,950,570.40. Following the completion of the transaction, the chief executive officer now owns 222,880 shares in the company, valued at $32,466,929.60. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 624,316 shares of company stock valued at $90,919,400. Insiders own 1.20% of the company’s stock.

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.