Quantinno Capital Management LP increased its position in Ares Management Co. (NYSE:ARES - Free Report) by 14.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 18,743 shares of the asset manager's stock after buying an additional 2,302 shares during the quarter. Quantinno Capital Management LP's holdings in Ares Management were worth $3,318,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also made changes to their positions in ARES. Norges Bank acquired a new stake in Ares Management in the 4th quarter valued at $381,365,000. Raymond James Financial Inc. acquired a new stake in Ares Management in the 4th quarter valued at $335,858,000. TD Asset Management Inc. increased its holdings in Ares Management by 4,557.2% in the 4th quarter. TD Asset Management Inc. now owns 1,304,759 shares of the asset manager's stock valued at $230,981,000 after purchasing an additional 1,276,743 shares in the last quarter. Vanguard Group Inc. increased its holdings in Ares Management by 5.1% in the 4th quarter. Vanguard Group Inc. now owns 18,807,718 shares of the asset manager's stock valued at $3,329,530,000 after purchasing an additional 907,757 shares in the last quarter. Finally, FMR LLC increased its holdings in Ares Management by 12.8% in the 4th quarter. FMR LLC now owns 7,109,070 shares of the asset manager's stock valued at $1,258,519,000 after purchasing an additional 807,361 shares in the last quarter. 50.03% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several brokerages recently issued reports on ARES. TD Cowen lowered their price target on Ares Management from $216.00 to $161.00 and set a "buy" rating for the company in a report on Wednesday, April 9th. Oppenheimer downgraded Ares Management from an "outperform" rating to a "market perform" rating in a research note on Thursday, May 15th. Wolfe Research set a $193.00 target price on Ares Management and gave the company an "outperform" rating in a research note on Tuesday, May 6th. Wells Fargo & Company raised their target price on Ares Management from $156.00 to $182.00 and gave the company an "overweight" rating in a research note on Tuesday, May 6th. Finally, Morgan Stanley lowered their target price on Ares Management from $197.00 to $152.00 and set an "equal weight" rating for the company in a research note on Monday, April 14th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $174.50.
Check Out Our Latest Analysis on Ares Management
Ares Management Stock Performance
Shares of NYSE ARES opened at $168.56 on Tuesday. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.53. The firm's 50-day moving average price is $148.97 and its two-hundred day moving average price is $167.64. Ares Management Co. has a 52-week low of $110.63 and a 52-week high of $200.49. The stock has a market capitalization of $55.05 billion, a P/E ratio of 83.03, a P/E/G ratio of 1.28 and a beta of 1.40.
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, topping analysts' consensus estimates of $0.94 by $0.15. Ares Management had a net margin of 11.35% and a return on equity of 16.64%. The firm had revenue of $951.96 million for the quarter, compared to analysts' expectations of $914.00 million. During the same quarter last year, the company posted $0.80 earnings per share. As a group, sell-side analysts forecast that Ares Management Co. will post 5.28 earnings per share for the current year.
Ares Management Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be issued a dividend of $1.12 per share. The ex-dividend date of this dividend is Monday, June 16th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 2.66%. Ares Management's dividend payout ratio (DPR) is presently 263.53%.
Insider Activity
In other news, Chairman Bennett Rosenthal sold 69,809 shares of Ares Management stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $161.01, for a total transaction of $11,239,947.09. Following the sale, the chairman now owns 30,191 shares of the company's stock, valued at approximately $4,861,052.91. The trade was a 69.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Michael J. Arougheti sold 110,845 shares of Ares Management stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $153.17, for a total value of $16,978,128.65. Following the sale, the chief executive officer now directly owns 1,400,000 shares in the company, valued at approximately $214,438,000. This trade represents a 7.34% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 685,180 shares of company stock valued at $113,177,573. Insiders own 36.86% of the company's stock.
About Ares Management
(
Free Report)
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.
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