Adage Capital Partners GP L.L.C. Acquires 187,000 Shares of Ares Management Co. (NYSE:ARES)

Adage Capital Partners GP L.L.C. raised its stake in shares of Ares Management Co. (NYSE:ARES - Free Report) by 415.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 232,000 shares of the asset manager's stock after purchasing an additional 187,000 shares during the period. Adage Capital Partners GP L.L.C. owned 0.07% of Ares Management worth $41,071,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Chesley Taft & Associates LLC increased its stake in Ares Management by 0.4% during the 4th quarter. Chesley Taft & Associates LLC now owns 14,022 shares of the asset manager's stock valued at $2,482,000 after purchasing an additional 60 shares in the last quarter. Huntington National Bank lifted its stake in Ares Management by 9.8% during the 4th quarter. Huntington National Bank now owns 704 shares of the asset manager's stock valued at $125,000 after acquiring an additional 63 shares during the period. Premier Path Wealth Partners LLC boosted its stake in shares of Ares Management by 2.3% in the fourth quarter. Premier Path Wealth Partners LLC now owns 2,799 shares of the asset manager's stock worth $496,000 after buying an additional 64 shares during the last quarter. Versant Capital Management Inc increased its holdings in Ares Management by 67.0% in the fourth quarter. Versant Capital Management Inc now owns 162 shares of the asset manager's stock valued at $29,000 after buying an additional 65 shares in the last quarter. Finally, Yousif Capital Management LLC boosted its stake in shares of Ares Management by 2.8% during the 4th quarter. Yousif Capital Management LLC now owns 2,352 shares of the asset manager's stock worth $416,000 after acquiring an additional 65 shares in the last quarter. Institutional investors own 50.03% of the company's stock.

Ares Management Trading Down 2.1 %

NYSE:ARES traded down $3.14 during mid-day trading on Wednesday, reaching $149.65. The company's stock had a trading volume of 476,810 shares, compared to its average volume of 1,394,970. The company's fifty day simple moving average is $147.84 and its two-hundred day simple moving average is $167.92. The stock has a market cap of $47.20 billion, a P/E ratio of 73.72, a P/E/G ratio of 1.28 and a beta of 1.32. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.05 and a quick ratio of 1.05. Ares Management Co. has a twelve month low of $110.63 and a twelve month high of $200.49.

Ares Management (NYSE:ARES - Get Free Report) last issued its quarterly earnings data on Wednesday, February 5th. The asset manager reported $1.23 earnings per share for the quarter, missing analysts' consensus estimates of $1.35 by ($0.12). Ares Management had a net margin of 11.35% and a return on equity of 16.64%. On average, equities analysts predict that Ares Management Co. will post 5.28 EPS for the current year.

Ares Management Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were issued a $1.12 dividend. The ex-dividend date was Monday, March 17th. This represents a $4.48 annualized dividend and a dividend yield of 2.99%. This is a boost from Ares Management's previous quarterly dividend of $0.93. Ares Management's dividend payout ratio is currently 183.25%.

Insider Buying and Selling at Ares Management

In related news, insider R. Kipp Deveer sold 78,933 shares of the firm's stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $190.02, for a total value of $14,998,848.66. Following the transaction, the insider now directly owns 1,150,000 shares in the company, valued at approximately $218,523,000. This trade represents a 6.42 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider David B. Kaplan sold 69,526 shares of the firm's stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $160.99, for a total value of $11,192,990.74. Following the completion of the transaction, the insider now directly owns 30,474 shares of the company's stock, valued at approximately $4,906,009.26. This trade represents a 69.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 329,113 shares of company stock valued at $54,409,915 in the last three months. 0.52% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

ARES has been the subject of a number of research analyst reports. StockNews.com cut shares of Ares Management from a "hold" rating to a "sell" rating in a research report on Wednesday, January 8th. Bank of America decreased their target price on Ares Management from $221.00 to $201.00 and set a "buy" rating on the stock in a research report on Friday, April 4th. Wells Fargo & Company decreased their price objective on Ares Management from $187.00 to $156.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Oppenheimer upgraded Ares Management from a "market perform" rating to an "outperform" rating and set a $159.00 price target for the company in a research report on Wednesday, April 16th. Finally, JMP Securities raised Ares Management from a "market perform" rating to a "market outperform" rating and set a $165.00 target price on the stock in a research report on Tuesday, April 8th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $165.00.

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.