Massachusetts Financial Services Co. MA Acquires 1,377 Shares of Ares Management Co. (NYSE:ARES)

Massachusetts Financial Services Co. MA boosted its stake in Ares Management Co. (NYSE:ARES) by 0.0% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 5,059,771 shares of the asset manager’s stock after purchasing an additional 1,377 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Ares Management were worth $788,515,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in ARES. Curated Wealth Partners LLC boosted its stake in Ares Management by 199.7% during the 2nd quarter. Curated Wealth Partners LLC now owns 1,658,217 shares of the asset manager’s stock valued at $221,007,000 after purchasing an additional 3,321,434 shares during the last quarter. LRI Investments LLC purchased a new stake in Ares Management in the 1st quarter worth approximately $264,729,000. Lone Pine Capital LLC bought a new stake in shares of Ares Management during the 2nd quarter valued at $209,884,000. Millennium Management LLC grew its position in shares of Ares Management by 722.6% during the second quarter. Millennium Management LLC now owns 1,738,148 shares of the asset manager’s stock worth $231,660,000 after purchasing an additional 1,526,856 shares in the last quarter. Finally, M&G Plc lifted its stake in Ares Management by 711.1% in the 2nd quarter. M&G Plc now owns 1,015,009 shares of the asset manager’s stock worth $134,996,000 after purchasing an additional 889,872 shares in the last quarter. 50.03% of the stock is owned by hedge funds and other institutional investors.

Ares Management Trading Up 1.9 %

Shares of NYSE:ARES opened at $175.19 on Friday. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.05 and a quick ratio of 1.05. The firm has a market capitalization of $54.84 billion, a P/E ratio of 80.73, a P/E/G ratio of 1.85 and a beta of 1.20. The business’s 50-day moving average is $163.13 and its 200 day moving average is $148.86. Ares Management Co. has a 1 year low of $107.69 and a 1 year high of $176.31.

Ares Management (NYSE:ARES) last announced its quarterly earnings data on Friday, November 1st. The asset manager reported $0.95 EPS for the quarter, beating the consensus estimate of $0.94 by $0.01. The firm had revenue of $1.13 billion during the quarter, compared to analyst estimates of $833.58 million. Ares Management had a net margin of 12.51% and a return on equity of 19.89%. During the same period last year, the firm posted $0.83 EPS. On average, research analysts predict that Ares Management Co. will post 4.06 earnings per share for the current fiscal year.

Ares Management Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th will be issued a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a dividend yield of 2.12%. The ex-dividend date is Tuesday, December 17th. Ares Management’s dividend payout ratio (DPR) is presently 171.43%.

Insiders Place Their Bets

In other Ares Management news, Chairman Bennett Rosenthal sold 13,533 shares of the company’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $145.12, for a total value of $1,963,908.96. Following the sale, the chairman now directly owns 136,467 shares of the company’s stock, valued at approximately $19,804,091.04. This represents a 9.02 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Ryan Berry sold 18,329 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $175.18, for a total value of $3,210,874.22. Following the completion of the transaction, the insider now directly owns 254,885 shares of the company’s stock, valued at approximately $44,650,754.30. This trade represents a 6.71 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 518,051 shares of company stock valued at $79,122,336. 1.20% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. JPMorgan Chase & Co. cut their target price on shares of Ares Management from $176.00 to $174.00 and set an “overweight” rating for the company in a report on Tuesday, November 5th. The Goldman Sachs Group lifted their price objective on shares of Ares Management from $145.00 to $160.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. TD Cowen raised their price objective on shares of Ares Management from $184.00 to $187.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Deutsche Bank Aktiengesellschaft boosted their target price on Ares Management from $146.00 to $150.00 and gave the company a “hold” rating in a research report on Monday, November 11th. Finally, Redburn Atlantic initiated coverage on Ares Management in a report on Tuesday, August 27th. They issued a “neutral” rating and a $140.00 price target on the stock. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, Ares Management currently has an average rating of “Moderate Buy” and a consensus price target of $166.36.

Ares Management 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.