Curated Wealth Partners LLC Sells 1,060 Shares of Ares Management Co. (NYSE:ARES)

Curated Wealth Partners LLC reduced its position in Ares Management Co. (NYSE:ARES) by 0.1% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 1,657,157 shares of the asset manager’s stock after selling 1,060 shares during the period. Ares Management comprises 33.0% of Curated Wealth Partners LLC’s holdings, making the stock its 2nd largest position. Curated Wealth Partners LLC’s holdings in Ares Management were worth $258,251,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in ARES. Compass Wealth Management LLC acquired a new position in Ares Management in the 1st quarter valued at about $28,000. Riverview Trust Co acquired a new position in shares of Ares Management during the 1st quarter worth approximately $29,000. West Oak Capital LLC boosted its stake in shares of Ares Management by 66.7% in the first quarter. West Oak Capital LLC now owns 250 shares of the asset manager’s stock valued at $33,000 after buying an additional 100 shares during the period. J.Safra Asset Management Corp increased its stake in Ares Management by 717.6% during the 1st quarter. J.Safra Asset Management Corp now owns 278 shares of the asset manager’s stock worth $37,000 after acquiring an additional 244 shares during the period. Finally, TFO Wealth Partners LLC lifted its position in shares of Ares Management by 29,200.0% during the 4th quarter. TFO Wealth Partners LLC now owns 293 shares of the asset manager’s stock valued at $35,000 after acquiring an additional 292 shares during the period. 50.03% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. JPMorgan Chase & Co. raised their price target on Ares Management from $141.00 to $143.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Wells Fargo & Company assumed coverage on shares of Ares Management in a report on Thursday, September 12th. They set an “equal weight” rating and a $156.00 price target for the company. Barclays upped their target price on Ares Management from $151.00 to $155.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. The Goldman Sachs Group lifted their price target on Ares Management from $145.00 to $160.00 and gave the company a “buy” rating in a research note on Monday, September 30th. Finally, Redburn Atlantic began coverage on Ares Management in a research report on Tuesday, August 27th. They issued a “neutral” rating and a $140.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $143.67.

Insider Activity

In related news, CEO Michael J. Arougheti sold 27,120 shares of the company’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 transaction of $3,950,570.40. Following the transaction, the chief executive officer now directly owns 222,880 shares of the company’s stock, valued at approximately $32,466,929.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Michael J. Arougheti sold 27,120 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $145.67, for a total value of $3,950,570.40. Following the sale, the chief executive officer now owns 222,880 shares in the company, valued at $32,466,929.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Ryan Berry sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $142.12, for a total value of $1,421,200.00. Following the sale, the insider now directly owns 446,702 shares of the company’s stock, valued at $63,485,288.24. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 604,316 shares of company stock worth $87,718,000. Company insiders own 1.20% of the company’s stock.

Ares Management Trading Up 2.1 %

NYSE ARES traded up $3.34 on Friday, reaching $160.39. The company had a trading volume of 1,052,709 shares, compared to its average volume of 1,106,741. The firm has a market cap of $49.69 billion, a price-to-earnings ratio of 71.89, a P/E/G ratio of 1.47 and a beta of 1.22. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.05 and a quick ratio of 1.05. Ares Management Co. has a fifty-two week low of $96.00 and a fifty-two week high of $160.39. The business has a 50 day moving average of $147.04 and a two-hundred day moving average of $140.89.

Ares Management (NYSE:ARES) last posted its quarterly earnings data on Friday, August 2nd. The asset manager reported $0.99 EPS for the quarter, topping analysts’ consensus estimates of $0.98 by $0.01. Ares Management had a return on equity of 20.46% and a net margin of 12.53%. The company had revenue of $788.68 million for the quarter, compared to analyst estimates of $860.09 million. During the same period in the previous year, the firm earned $0.90 earnings per share. Analysts forecast that Ares Management Co. will post 4.15 EPS for the current year.

Ares Management Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were paid a $0.93 dividend. This represents a $3.72 annualized dividend and a yield of 2.32%. The ex-dividend date was Monday, September 16th. Ares Management’s dividend payout ratio (DPR) is currently 166.82%.

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.