Wells Fargo & Company MN boosted its stake in shares of Ares Management LP (NYSE:ARES) by 43.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 900,886 shares of the asset manager’s stock after buying an additional 273,890 shares during the quarter. Wells Fargo & Company MN owned 1.10% of Ares Management worth $18,018,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also added to or reduced their stakes in the company. Goldman Sachs Group Inc. grew its position in shares of Ares Management by 37.9% in the second quarter. Goldman Sachs Group Inc. now owns 14,483 shares of the asset manager’s stock valued at $261,000 after purchasing an additional 3,982 shares during the last quarter. Royal Bank of Canada lifted its stake in shares of Ares Management by 359.8% during the second quarter. Royal Bank of Canada now owns 9,840 shares of the asset manager’s stock valued at $177,000 after buying an additional 7,700 shares during the period. American Century Companies Inc. lifted its stake in shares of Ares Management by 0.8% during the fourth quarter. American Century Companies Inc. now owns 1,218,527 shares of the asset manager’s stock valued at $24,371,000 after buying an additional 9,989 shares during the period. Commerce Bank purchased a new position in shares of Ares Management during the third quarter valued at approximately $205,000. Finally, Stifel Financial Corp purchased a new position in shares of Ares Management during the third quarter valued at approximately $278,000. Institutional investors and hedge funds own 17.09% of the company’s stock.
Ares Management LP (NYSE:ARES) opened at $21.90 on Monday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.32 and a current ratio of 0.32. The firm has a market cap of $1,812.41, a P/E ratio of 35.90, a price-to-earnings-growth ratio of 1.32 and a beta of 1.22. Ares Management LP has a one year low of $17.25 and a one year high of $25.95.
The business also recently declared a dividend, which was paid on Wednesday, February 28th. Shareholders of record on Monday, February 26th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, February 23rd. Ares Management’s dividend payout ratio is currently 262.30%.
Several equities analysts recently issued reports on the stock. Wells Fargo & Co downgraded shares of Ares Management from an “outperform” rating to a “market perform” rating in a research note on Friday, February 16th. They noted that the move was a valuation call. ValuEngine raised shares of Ares Management from a “buy” rating to a “strong-buy” rating in a research note on Thursday, February 15th. Royal Bank of Canada set a $26.00 price objective on shares of Ares Management and gave the company a “buy” rating in a research note on Thursday, February 15th. Morgan Stanley reissued an “equal weight” rating and set a $24.00 price objective (up previously from $20.00) on shares of Ares Management in a research note on Thursday, March 1st. Finally, Zacks Investment Research raised shares of Ares Management from a “hold” rating to a “buy” rating and set a $28.00 price objective on the stock in a research note on Thursday, January 25th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. Ares Management presently has an average rating of “Buy” and a consensus price target of $25.50.
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About Ares Management
Ares Management, L.P. is an alternative asset manager. The Company offers its investors a range of investment strategies. It operates through three segments: Credit Group, Private Equity Group and Real Estate Group. The Credit Group segment manages credit strategies across the non-investment grade credit universe in the United States and Europe.
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