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

Massachusetts Financial Services Co. MA lifted its stake in shares of Ares Management Co. (NYSE:ARES) by 0.0% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,059,771 shares of the asset manager’s stock after purchasing an additional 1,377 shares during the period. Massachusetts Financial Services Co. MA owned 1.62% of Ares Management worth $788,515,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Eastern Bank acquired a new position in shares of Ares Management during the 3rd quarter worth about $39,000. West Oak Capital LLC raised its stake in Ares Management by 40.0% in the second quarter. West Oak Capital LLC now owns 350 shares of the asset manager’s stock valued at $47,000 after buying an additional 100 shares during the period. Key Financial Inc bought a new position in shares of Ares Management during the 2nd quarter worth approximately $53,000. EntryPoint Capital LLC acquired a new stake in Ares Management during the 1st quarter valued at $54,000. Finally, Industrial Alliance Investment Management Inc. boosted its holdings in shares of Ares Management by 80.4% during the 2nd quarter. Industrial Alliance Investment Management Inc. now owns 451 shares of the asset manager’s stock worth $60,000 after buying an additional 201 shares during the period. 50.03% of the stock is currently owned by institutional investors and hedge funds.

Ares Management Price Performance

Ares Management stock opened at $175.19 on Friday. Ares Management Co. has a 12 month low of $107.69 and a 12 month high of $176.31. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.53. The business’s 50 day simple moving average is $163.13 and its 200 day simple moving average is $148.86. The company has a market cap of $54.84 billion, a price-to-earnings ratio of 80.73, a PEG ratio of 1.85 and a beta of 1.20.

Ares Management (NYSE:ARES) last announced its quarterly earnings results on Friday, November 1st. The asset manager reported $0.95 EPS for the quarter, beating analysts’ consensus estimates of $0.94 by $0.01. The company had revenue of $1.13 billion for the quarter, compared to analysts’ expectations 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 in the prior year, the company posted $0.83 EPS. Sell-side analysts forecast that Ares Management Co. will post 4.06 EPS for the current year.

Ares Management Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th will be paid a $0.93 dividend. The ex-dividend date of this dividend is Tuesday, December 17th. This represents a $3.72 dividend on an annualized basis and a yield of 2.12%. Ares Management’s dividend payout ratio is currently 171.43%.

Analysts Set New Price Targets

ARES has been the topic of several recent research reports. The Goldman Sachs Group increased their price objective on Ares Management from $145.00 to $160.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. JPMorgan Chase & Co. dropped their price objective on shares of Ares Management from $176.00 to $174.00 and set an “overweight” rating for the company in a research note on Tuesday, November 5th. Royal Bank of Canada increased their target price on shares of Ares Management from $170.00 to $185.00 and gave the stock an “outperform” rating in a research report on Monday, November 4th. TD Cowen raised their price objective on Ares Management from $184.00 to $187.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Finally, Wells Fargo & Company raised their price objective 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. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $166.36.

Insider Buying and Selling at Ares Management

In related 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 transaction of $1,963,908.96. Following the completion of the sale, the chairman now directly owns 136,467 shares in the company, valued at $19,804,091.04. This represents a 9.02 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Ryan Berry sold 57,500 shares of the firm’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $140.74, for a total transaction of $8,092,550.00. Following the completion of the sale, the insider now directly owns 456,702 shares in the company, valued at approximately $64,276,239.48. This trade represents a 11.18 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 518,051 shares of company stock valued at $79,122,336 in the last 90 days. Corporate insiders own 1.20% of the company’s stock.

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.