Massachusetts Financial Services Co. MA Has $736.57 Million Position in Ares Management Corporation (NYSE:ARES)

Massachusetts Financial Services Co. MA cut its stake in shares of Ares Management Corporation (NYSE:ARES - Free Report) by 2.0% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 5,023,985 shares of the asset manager's stock after selling 102,457 shares during the period. Massachusetts Financial Services Co. MA owned approximately 1.59% of Ares Management worth $736,566,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Transce3nd LLC purchased a new stake in Ares Management during the 4th quarter worth approximately $29,000. Johnson Financial Group Inc. grew its position in shares of Ares Management by 104.8% during the fourth quarter. Johnson Financial Group Inc. now owns 170 shares of the asset manager's stock worth $30,000 after buying an additional 87 shares in the last quarter. Elequin Capital LP bought a new stake in shares of Ares Management in the fourth quarter worth $33,000. Redmont Wealth Advisors LLC bought a new stake in shares of Ares Management in the first quarter worth $28,000. Finally, Global Financial Private Client LLC raised its holdings in Ares Management by 125.6% in the first quarter. Global Financial Private Client LLC now owns 264 shares of the asset manager's stock valued at $39,000 after acquiring an additional 147 shares in the last quarter. Institutional investors and hedge funds own 50.03% of the company's stock.

Wall Street Analyst Weigh In

ARES has been the topic of a number of recent analyst reports. Barclays upped their target price on shares of Ares Management from $182.00 to $200.00 and gave the company an "overweight" rating in a research note on Thursday. Wolfe Research set a $193.00 target price on Ares Management and gave the stock an "outperform" rating in a report on Tuesday, May 6th. Wells Fargo & Company boosted their price target on Ares Management from $189.00 to $202.00 and gave the company an "overweight" rating in a report on Friday. Citizens Jmp raised Ares Management from a "market perform" rating to an "outperform" rating and set a $165.00 price target on the stock in a research report on Tuesday, April 8th. Finally, The Goldman Sachs Group decreased their price objective on shares of Ares Management from $188.00 to $166.00 and set a "buy" rating for the company in a report on Thursday, April 3rd. 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 stock. According to data from MarketBeat, Ares Management presently has an average rating of "Moderate Buy" and a consensus price target of $177.50.

Insider Buying and Selling at Ares Management

In related news, Chairman Bennett Rosenthal sold 85,000 shares of the business's stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $168.79, for a total value of $14,347,150.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Michael J. Arougheti sold 182,108 shares of the company's stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $170.07, for a total transaction of $30,971,107.56. Following the sale, the chief executive officer directly owned 350,684 shares in the company, valued at $59,640,827.88. This represents a 34.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 873,145 shares of company stock worth $146,204,353 over the last 90 days. Insiders own 0.52% of the company's stock.

Ares Management Stock Up 1.8%

Shares of NYSE ARES traded up $3.13 during mid-day trading on Monday, reaching $180.50. The company had a trading volume of 1,331,606 shares, compared to its average volume of 1,682,997. The stock has a fifty day moving average of $168.99 and a two-hundred day moving average of $166.26. Ares Management Corporation has a 12-month low of $110.63 and a 12-month high of $200.49. The company has a market capitalization of $58.95 billion, a price-to-earnings ratio of 106.18, a PEG ratio of 1.45 and a beta of 1.37. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.07 and a current ratio of 1.07.

Ares Management (NYSE:ARES - Get Free Report) last issued its earnings results on Monday, May 5th. The asset manager reported $1.09 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.94 by $0.15. Ares Management had a net margin of 9.73% and a return on equity of 16.29%. The company had revenue of $951.96 million during the quarter, compared to analyst estimates of $914.00 million. During the same quarter last year, the business posted $0.80 EPS. As a group, equities research analysts expect that Ares Management Corporation will post 5.28 EPS for the current year.

Ares Management Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 16th were issued a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a dividend yield of 2.48%. The ex-dividend date of this dividend was Monday, June 16th. Ares Management's dividend payout ratio is 263.53%.

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.