LLBH Private Wealth Management LLC bought a new stake in shares of Ares Management L.P. (NYSE:ARES) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 51,279 shares of the asset manager’s stock, valued at approximately $923,000.

Other hedge funds have also recently made changes to their positions in the company. Royce & Associates LP increased its stake in shares of Ares Management L.P. by 1.0% in the first quarter. Royce & Associates LP now owns 3,646,776 shares of the asset manager’s stock valued at $69,106,000 after buying an additional 36,000 shares during the period. OppenheimerFunds Inc. increased its stake in shares of Ares Management L.P. by 41.0% in the first quarter. OppenheimerFunds Inc. now owns 1,305,908 shares of the asset manager’s stock valued at $24,747,000 after buying an additional 379,418 shares during the period. American Century Companies Inc. increased its stake in shares of Ares Management L.P. by 9.5% in the first quarter. American Century Companies Inc. now owns 1,181,639 shares of the asset manager’s stock valued at $22,392,000 after buying an additional 102,837 shares during the period. EJF Capital LLC purchased a new stake in shares of Ares Management L.P. during the first quarter valued at about $14,551,000. Finally, Wells Fargo & Company MN increased its stake in shares of Ares Management L.P. by 733.8% in the first quarter. Wells Fargo & Company MN now owns 553,854 shares of the asset manager’s stock valued at $10,496,000 after buying an additional 487,425 shares during the period. 14.36% of the stock is currently owned by institutional investors.

Ares Management L.P. (NYSE:ARES) opened at 18.10 on Tuesday. Ares Management L.P. has a 1-year low of $14.75 and a 1-year high of $23.25. The firm has a market capitalization of $3.88 billion, a P/E ratio of 24.23 and a beta of 1.25. The stock has a 50 day moving average of $18.26 and a 200-day moving average of $18.91.

Ares Management L.P. (NYSE:ARES) last announced its quarterly earnings results on Friday, August 4th. The asset manager reported $0.69 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.69. The company had revenue of $554 million for the quarter, compared to analysts’ expectations of $442.10 million. Ares Management L.P. had a net margin of 5.86% and a return on equity of 40.94%. The business’s quarterly revenue was up 49.9% compared to the same quarter last year. During the same period last year, the firm posted $0.40 earnings per share. On average, equities research analysts anticipate that Ares Management L.P. will post $1.84 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Friday, August 18th will be given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 6.85%. This is a boost from Ares Management L.P.’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend is Wednesday, August 16th. Ares Management L.P.’s dividend payout ratio (DPR) is currently 71.23%.

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ARES has been the topic of several recent analyst reports. TheStreet downgraded shares of Ares Management L.P. from a “b-” rating to a “c” rating in a research note on Monday, June 5th. Royal Bank Of Canada initiated coverage on shares of Ares Management L.P. in a research note on Thursday, June 29th. They set an “outperform” rating and a $21.00 target price on the stock. ValuEngine downgraded shares of Ares Management L.P. from a “strong-buy” rating to a “buy” rating in a research note on Thursday, July 27th. BidaskClub raised shares of Ares Management L.P. from a “sell” rating to a “hold” rating in a research note on Monday, July 24th. Finally, Zacks Investment Research raised shares of Ares Management L.P. from a “hold” rating to a “buy” rating and set a $20.00 target price on the stock in a research note on Tuesday, July 11th. One analyst has rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $21.57.

Ares Management L.P. Company Profile

Ares Management, L.P. is an alternative asset manager. The Company offers its investors a range of investment strategies. It operates through three segments: Credit Group, Private Equity Group and Real Estate Group. The Credit Group segment manages credit strategies across the non-investment grade credit universe in the United States and Europe.

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Institutional Ownership by Quarter for Ares Management L.P. (NYSE:ARES)

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