Westfield Capital Management Co. LP Sells 51,180 Shares of Ares Management Corporation $ARES

Westfield Capital Management Co. LP reduced its position in shares of Ares Management Corporation (NYSE:ARES) by 4.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,027,589 shares of the asset manager’s stock after selling 51,180 shares during the period. Westfield Capital Management Co. LP’s holdings in Ares Management were worth $164,301,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. Exchange Traded Concepts LLC raised its position in Ares Management by 100.0% during the 3rd quarter. Exchange Traded Concepts LLC now owns 190 shares of the asset manager’s stock valued at $30,000 after purchasing an additional 95 shares during the last quarter. Elevation Point Wealth Partners LLC bought a new stake in shares of Ares Management in the 2nd quarter worth approximately $35,000. Redmont Wealth Advisors LLC purchased a new position in shares of Ares Management during the third quarter valued at approximately $40,000. Washington Trust Advisors Inc. bought a new position in shares of Ares Management during the third quarter valued at approximately $50,000. Finally, First Horizon Corp bought a new position in shares of Ares Management during the third quarter valued at approximately $51,000. Hedge funds and other institutional investors own 50.03% of the company’s stock.

Ares Management Trading Up 1.8%

NYSE:ARES opened at $119.25 on Thursday. The firm has a market capitalization of $38.98 billion, a P/E ratio of 70.56, a PEG ratio of 0.71 and a beta of 1.52. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.22 and a quick ratio of 0.22. Ares Management Corporation has a one year low of $110.63 and a one year high of $195.26. The company’s 50-day simple moving average is $152.72 and its 200 day simple moving average is $160.04.

Ares Management (NYSE:ARES) last issued its quarterly earnings results on Thursday, February 5th. The asset manager reported $1.45 EPS for the quarter, missing analysts’ consensus estimates of $1.71 by ($0.26). Ares Management had a return on equity of 19.26% and a net margin of 9.41%.The company had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.38 billion. During the same period in the prior year, the firm earned $0.55 earnings per share. As a group, analysts forecast that Ares Management Corporation will post 5.28 EPS for the current fiscal year.

Ares Management Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 17th will be paid a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date is Tuesday, March 17th. This is a positive change from Ares Management’s previous quarterly dividend of $0.84. Ares Management’s dividend payout ratio (DPR) is presently 265.09%.

Insider Buying and Selling

In other news, CEO Michael J. Arougheti sold 98,673 shares of the company’s stock in a transaction that occurred on Friday, November 28th. The shares were sold at an average price of $156.15, for a total value of $15,407,788.95. Following the transaction, the chief executive officer owned 56,257 shares in the company, valued at approximately $8,784,530.55. This represents a 63.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Judy D. Olian purchased 480 shares of the business’s stock in a transaction dated Friday, February 20th. The shares were purchased at an average price of $124.43 per share, for a total transaction of $59,726.40. Following the acquisition, the director owned 29,734 shares of the company’s stock, valued at approximately $3,699,801.62. The trade was a 1.64% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 36.86% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. TD Cowen reiterated a “buy” rating on shares of Ares Management in a report on Wednesday, January 14th. Morgan Stanley set a $178.00 target price on shares of Ares Management in a research report on Tuesday, January 27th. The Goldman Sachs Group reduced their price target on shares of Ares Management from $189.00 to $165.00 and set a “buy” rating on the stock in a research report on Friday, February 6th. Raymond James Financial raised shares of Ares Management from a “market perform” rating to a “strong-buy” rating and set a $157.00 price target for the company in a research note on Monday, February 9th. Finally, Oppenheimer lowered their price objective on shares of Ares Management from $224.00 to $215.00 and set an “outperform” rating for the company in a report on Friday, February 6th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $182.67.

Ares Management 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.