Compass Wealth Management LLC Purchases New Stake in Ares Management Co. (NYSE:ARES)

Compass Wealth Management LLC purchased a new stake in Ares Management Co. (NYSE:ARES) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 210 shares of the asset manager’s stock, valued at approximately $28,000.

Other hedge funds have also bought and sold shares of the company. Norges Bank bought a new position in Ares Management during the 4th quarter valued at $205,499,000. FMR LLC raised its stake in shares of Ares Management by 27.4% during the 3rd quarter. FMR LLC now owns 5,836,590 shares of the asset manager’s stock worth $600,410,000 after purchasing an additional 1,255,866 shares during the period. Corient Private Wealth LLC raised its stake in shares of Ares Management by 216.3% during the 4th quarter. Corient Private Wealth LLC now owns 1,253,644 shares of the asset manager’s stock worth $149,083,000 after purchasing an additional 857,245 shares during the period. Vanguard Group Inc. raised its stake in Ares Management by 4.0% in the 4th quarter. Vanguard Group Inc. now owns 16,392,349 shares of the asset manager’s stock valued at $1,949,378,000 after acquiring an additional 631,334 shares during the period. Finally, Invesco Ltd. raised its stake in Ares Management by 53.1% in the 3rd quarter. Invesco Ltd. now owns 1,461,097 shares of the asset manager’s stock valued at $150,303,000 after acquiring an additional 506,935 shares during the period. Institutional investors and hedge funds own 50.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Royal Bank of Canada reaffirmed an “outperform” rating and set a $150.00 target price on shares of Ares Management in a report on Wednesday, May 22nd. Deutsche Bank Aktiengesellschaft downgraded Ares Management from a “buy” rating to a “hold” rating and lowered their price objective for the company from $176.00 to $132.00 in a research report on Thursday, June 13th. TD Cowen upped their target price on Ares Management from $154.00 to $171.00 and gave the company a “buy” rating in a report on Wednesday, May 22nd. Barclays reduced their price target on Ares Management from $153.00 to $150.00 and set an “overweight” rating on the stock in a research note on Friday, May 3rd. Finally, Jefferies Financial Group cut their target price on Ares Management from $131.00 to $127.00 and set a “hold” rating on the stock in a research note on Thursday, May 9th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $130.29.

Ares Management Stock Up 0.7 %

NYSE ARES opened at $135.00 on Thursday. The stock’s 50-day moving average price is $137.57 and its 200-day moving average price is $129.55. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.70. Ares Management Co. has a 52 week low of $90.29 and a 52 week high of $150.12. The company has a market capitalization of $41.83 billion, a P/E ratio of 60.54, a price-to-earnings-growth ratio of 1.29 and a beta of 1.21.

Ares Management (NYSE:ARES) last released its earnings results on Thursday, May 2nd. The asset manager reported $0.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.93 by ($0.13). Ares Management had a return on equity of 21.22% and a net margin of 12.86%. The business had revenue of $707.36 million for the quarter, compared to analysts’ expectations of $814.88 million. During the same quarter in the prior year, the business posted $0.71 EPS. On average, equities research analysts predict that Ares Management Co. will post 4.25 earnings per share for the current year.

Ares Management Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be given a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a dividend yield of 2.76%. The ex-dividend date is Friday, June 14th. Ares Management’s dividend payout ratio is currently 166.82%.

Insider Buying and Selling

In other Ares Management news, Director Judy D. Olian sold 3,417 shares of the firm’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $134.00, for a total transaction of $457,878.00. Following the completion of the transaction, the director now owns 27,312 shares in the company, valued at approximately $3,659,808. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Ares Management news, Director Judy D. Olian sold 3,417 shares of the firm’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $134.00, for a total transaction of $457,878.00. Following the completion of the transaction, the director now owns 27,312 shares in the company, valued at approximately $3,659,808. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Antony P. Ressler sold 15,304 shares of the firm’s stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $134.58, for a total value of $2,059,612.32. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,440,288 shares of company stock worth $195,604,134. 1.20% of the stock is owned by corporate insiders.

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.