Quantinno Capital Management LP Buys 639 Shares of Ares Management Co. (NYSE:ARES)

Quantinno Capital Management LP increased its stake in shares of Ares Management Co. (NYSE:ARESFree Report) by 4.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,441 shares of the asset manager’s stock after acquiring an additional 639 shares during the quarter. Quantinno Capital Management LP’s holdings in Ares Management were worth $2,562,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Massachusetts Financial Services Co. MA grew its position in shares of Ares Management by 58.5% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 5,058,394 shares of the asset manager’s stock worth $674,183,000 after buying an additional 1,867,933 shares during the last quarter. Lone Pine Capital LLC bought a new stake in shares of Ares Management in the 2nd quarter worth approximately $209,884,000. Millennium Management LLC grew its position in shares of Ares Management by 722.6% in the 2nd quarter. Millennium Management LLC now owns 1,738,148 shares of the asset manager’s stock worth $231,660,000 after buying an additional 1,526,856 shares during the last quarter. LRI Investments LLC grew its position in shares of Ares Management by 49.4% in the 2nd quarter. LRI Investments LLC now owns 2,822,565 shares of the asset manager’s stock worth $376,191,000 after buying an additional 933,664 shares during the last quarter. Finally, Principal Financial Group Inc. grew its position in shares of Ares Management by 31.3% in the 3rd quarter. Principal Financial Group Inc. now owns 2,849,737 shares of the asset manager’s stock worth $444,103,000 after buying an additional 678,549 shares during the last quarter. 50.03% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Ares Management news, Chairman Bennett Rosenthal sold 75,000 shares of the business’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $143.05, for a total transaction of $10,728,750.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Ryan Berry sold 1,671 shares of the business’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $175.00, for a total value of $292,425.00. Following the sale, the insider now directly owns 253,214 shares of the company’s stock, valued at $44,312,450. This represents a 0.66 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 719,811 shares of company stock valued at $121,845,234 over the last 90 days. Company insiders own 41.89% of the company’s stock.

Ares Management Stock Up 0.4 %

ARES stock opened at $176.07 on Wednesday. Ares Management Co. has a 1-year low of $110.41 and a 1-year high of $180.38. The business has a fifty day moving average price of $168.29 and a 200-day moving average price of $151.74. 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 stock has a market capitalization of $55.12 billion, a P/E ratio of 81.14, a P/E/G ratio of 1.94 and a beta of 1.19.

Ares Management (NYSE:ARESGet Free Report) last posted its quarterly earnings results on Friday, November 1st. The asset manager reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.94 by $0.01. Ares Management had a return on equity of 19.89% and a net margin of 12.51%. The firm had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $833.58 million. During the same quarter in the previous year, the business earned $0.83 earnings per share. Equities analysts forecast that Ares Management Co. will post 4.06 earnings per share for the current fiscal year.

Ares Management Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th will be issued a $0.93 dividend. This represents a $3.72 annualized dividend and a dividend yield of 2.11%. The ex-dividend date is Tuesday, December 17th. Ares Management’s payout ratio is currently 171.43%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on ARES. Royal Bank of Canada lifted their price objective on Ares Management from $170.00 to $185.00 and gave the stock an “outperform” rating in a research report on Monday, November 4th. Deutsche Bank Aktiengesellschaft lifted their price objective on Ares Management from $146.00 to $150.00 and gave the stock a “hold” rating in a research report on Monday, November 11th. JPMorgan Chase & Co. lowered their target price on Ares Management from $176.00 to $174.00 and set an “overweight” rating for the company in a research note on Tuesday, November 5th. Wells Fargo & Company raised their target price on Ares Management from $172.00 to $176.00 and gave the company an “equal weight” rating in a research note on Monday, November 4th. Finally, Barclays raised their target price on Ares Management from $155.00 to $174.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Ares Management has a consensus rating of “Hold” and an average target price of $166.36.

Get Our Latest Stock Analysis on ARES

Ares Management Company Profile

(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.

Further Reading

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

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