Paragon Advisors LLC Cuts Stake in Ares Management Corporation $ARES

Paragon Advisors LLC cut its stake in shares of Ares Management Corporation (NYSE:ARES) by 23.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,821 shares of the asset manager’s stock after selling 4,139 shares during the quarter. Paragon Advisors LLC’s holdings in Ares Management were worth $2,210,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of ARES. LRI Investments LLC lifted its holdings in shares of Ares Management by 10.2% during the third quarter. LRI Investments LLC now owns 2,586,253 shares of the asset manager’s stock valued at $413,516,000 after purchasing an additional 238,531 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC raised its position in Ares Management by 1,456.9% in the 3rd quarter. Annis Gardner Whiting Capital Advisors LLC now owns 1,915 shares of the asset manager’s stock worth $306,000 after buying an additional 1,792 shares during the last quarter. New York State Common Retirement Fund lifted its stake in Ares Management by 0.5% during the 3rd quarter. New York State Common Retirement Fund now owns 98,348 shares of the asset manager’s stock valued at $15,725,000 after acquiring an additional 500 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Ares Management by 17.4% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 24,922 shares of the asset manager’s stock valued at $3,985,000 after acquiring an additional 3,702 shares during the last quarter. Finally, Truist Financial Corp grew its stake in shares of Ares Management by 4.4% in the third quarter. Truist Financial Corp now owns 629,076 shares of the asset manager’s stock worth $100,583,000 after acquiring an additional 26,333 shares during the period. 50.03% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Ares Management

In other Ares Management news, CEO Michael J. Arougheti sold 56,257 shares of the firm’s stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $157.26, for a total transaction of $8,846,975.82. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last ninety days, insiders sold 590,000 shares of company stock valued at $90,653,808. Corporate insiders own 0.52% of the company’s stock.

Ares Management Stock Up 0.4%

ARES stock opened at $149.91 on Thursday. The business’s 50-day moving average price is $164.82 and its 200-day moving average price is $167.25. The stock has a market cap of $49.00 billion, a P/E ratio of 64.34, a PEG ratio of 0.86 and a beta of 1.53. The company has a quick ratio of 0.22, a current ratio of 0.22 and a debt-to-equity ratio of 0.62. Ares Management Corporation has a twelve month low of $110.63 and a twelve month high of $200.49.

Ares Management (NYSE:ARES) last released its earnings results on Friday, October 31st. The asset manager reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $1.14 by $0.05. The company had revenue of $1.66 billion for the quarter, compared to analysts’ expectations of $1.03 billion. Ares Management had a net margin of 11.72% and a return on equity of 16.33%. During the same quarter last year, the business earned $0.55 EPS. On average, equities research analysts forecast that Ares Management Corporation will post 5.28 EPS for the current year.

Ares Management Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Wednesday, December 17th were issued a $0.8438 dividend. The ex-dividend date of this dividend was Wednesday, December 17th. This represents a $3.38 annualized dividend and a yield of 2.3%. Ares Management’s dividend payout ratio is currently 192.27%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on ARES. Keefe, Bruyette & Woods raised their target price on shares of Ares Management from $188.00 to $189.00 and gave the stock an “outperform” rating in a report on Tuesday, November 4th. BMO Capital Markets assumed coverage on Ares Management in a research note on Friday, October 3rd. They issued a “market perform” rating and a $156.00 price target on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Ares Management in a research report on Monday, December 29th. Barclays raised their target price on Ares Management from $218.00 to $222.00 and gave the stock an “overweight” rating in a research report on Friday, January 9th. Finally, Morgan Stanley set a $178.00 price target on shares of Ares Management in a research report on Tuesday. Twelve equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, Ares Management presently has a consensus rating of “Moderate Buy” and an average price target of $194.79.

Ares Management Company Profile

Ares Management Corporation (NYSE: ARES) is a global alternative asset manager that provides investment solutions across credit, private equity and real estate. The firm originates and manages capital across a range of strategies including direct lending, syndicated and special situations credit, private equity buyouts and growth investments, and real estate equity and debt. Ares serves institutional investors, insurance companies, pension funds, sovereign wealth funds, and high‑net‑worth clients through both commingled funds and bespoke managed account structures.

Within credit, Ares offers strategies spanning leveraged loans, structured credit, opportunistic and distressed debt, and specialty finance, with an emphasis on underwriting, portfolio construction and active asset management.