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

Quantinno Capital Management LP increased its position in Ares Management Co. (NYSE:ARES) by 4.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,441 shares of the asset manager’s stock after buying an additional 639 shares during the period. Quantinno Capital Management LP’s holdings in Ares Management were worth $2,562,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the company. FMR LLC lifted its position in shares of Ares Management by 1.0% in the third quarter. FMR LLC now owns 6,301,709 shares of the asset manager’s stock worth $982,058,000 after buying an additional 63,851 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of Ares Management by 58.5% in the second 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 in the last quarter. Principal Financial Group Inc. raised its position in Ares Management by 31.3% during the third quarter. Principal Financial Group Inc. now owns 2,849,737 shares of the asset manager’s stock valued at $444,103,000 after purchasing an additional 678,549 shares during the period. LRI Investments LLC raised its position in Ares Management by 49.4% during the second quarter. LRI Investments LLC now owns 2,822,565 shares of the asset manager’s stock valued at $376,191,000 after purchasing an additional 933,664 shares during the period. Finally, American Century Companies Inc. raised its position in Ares Management by 24.4% during the second quarter. American Century Companies Inc. now owns 2,316,584 shares of the asset manager’s stock valued at $308,754,000 after purchasing an additional 453,657 shares during the period. 50.03% of the stock is currently owned by hedge funds and other institutional investors.

Ares Management Stock Up 0.4 %

Shares of NYSE:ARES opened at $176.07 on Wednesday. Ares Management Co. has a 52-week low of $110.41 and a 52-week high of $180.38. The stock has a market cap of $55.12 billion, a P/E ratio of 81.14, a price-to-earnings-growth ratio of 1.94 and a beta of 1.19. The business’s 50 day moving average is $168.29 and its 200 day moving average is $151.74. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.53.

Ares Management (NYSE:ARES) last announced its quarterly earnings data on Friday, November 1st. The asset manager reported $0.95 earnings per share (EPS) 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 company had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $833.58 million. During the same quarter in the prior year, the firm earned $0.83 earnings per share. Sell-side analysts predict that Ares Management Co. will post 4.06 EPS for the current 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 paid a $0.93 dividend. The ex-dividend date is Tuesday, December 17th. This represents a $3.72 annualized dividend and a yield of 2.11%. Ares Management’s dividend payout ratio (DPR) is currently 171.43%.

Analyst Upgrades and Downgrades

ARES has been the topic of a number of recent research reports. Royal Bank of Canada upped their price objective on Ares Management from $170.00 to $185.00 and gave the company an “outperform” rating in a research report on Monday, November 4th. Deutsche Bank Aktiengesellschaft upped their price objective on Ares Management from $146.00 to $150.00 and gave the company a “hold” rating in a research report on Monday, November 11th. Redburn Atlantic initiated coverage on Ares Management in a research report on Tuesday, August 27th. They set a “neutral” rating and a $140.00 price objective on the stock. Wells Fargo & Company upped their price objective on Ares Management from $172.00 to $176.00 and gave the company an “equal weight” rating in a research report on Monday, November 4th. Finally, TD Cowen increased their price target on Ares Management from $184.00 to $187.00 and gave the stock a “buy” rating in a report on Monday, November 4th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $166.36.

Insider Buying and Selling at Ares Management

In other Ares Management news, insider Ryan Berry sold 12,500 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $148.42, for a total transaction of $1,855,250.00. Following the sale, the insider now owns 414,202 shares of the company’s stock, valued at approximately $61,475,860.84. This trade represents a 2.93 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Bennett Rosenthal sold 75,000 shares of the stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $143.05, for a total value of $10,728,750.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 719,811 shares of company stock valued at $121,845,234. 41.89% of the stock is currently owned by corporate insiders.

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.