Greenwich Investment Management Inc. decreased its position in shares of Ares Management LP (NYSE:ARES) by 12.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 55,516 shares of the asset manager’s stock after selling 7,950 shares during the period. Ares Management accounts for about 1.6% of Greenwich Investment Management Inc.’s investment portfolio, making the stock its 21st largest position. Greenwich Investment Management Inc. owned about 0.07% of Ares Management worth $1,110,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. PM CAPITAL Ltd raised its position in shares of Ares Management by 95.8% during the fourth quarter. PM CAPITAL Ltd now owns 820,159 shares of the asset manager’s stock valued at $16,403,000 after buying an additional 401,265 shares during the last quarter. Wells Fargo & Company MN raised its position in shares of Ares Management by 43.7% during the fourth quarter. Wells Fargo & Company MN now owns 900,886 shares of the asset manager’s stock valued at $18,018,000 after buying an additional 273,890 shares during the last quarter. EJF Capital LLC raised its position in shares of Ares Management by 17.2% during the third quarter. EJF Capital LLC now owns 1,086,804 shares of the asset manager’s stock valued at $20,269,000 after buying an additional 159,544 shares during the last quarter. Deutsche Bank AG grew its holdings in shares of Ares Management by 104.8% in the fourth quarter. Deutsche Bank AG now owns 258,035 shares of the asset manager’s stock valued at $5,160,000 after purchasing an additional 132,035 shares in the last quarter. Finally, Gator Capital Management LLC purchased a new position in shares of Ares Management in the fourth quarter valued at $2,085,000. Institutional investors own 17.09% of the company’s stock.
ARES has been the subject of a number of recent research reports. Credit Suisse Group reissued an “outperform” rating and issued a $33.00 target price (up from $25.00) on shares of Ares Management in a report on Wednesday, January 10th. They noted that the move was a valuation call. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $24.00 target price on shares of Ares Management in a report on Thursday, January 11th. Zacks Investment Research raised shares of Ares Management from a “hold” rating to a “buy” rating and set a $26.00 target price for the company in a report on Monday, January 15th. ValuEngine raised shares of Ares Management from a “buy” rating to a “strong-buy” rating in a report on Thursday, February 15th. Finally, Wells Fargo & Co lowered shares of Ares Management from an “outperform” rating to a “market perform” rating in a report on Friday, February 16th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $25.50.
Ares Management (NYSE:ARES) last issued its earnings results on Thursday, February 15th. The asset manager reported $0.54 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.48 by $0.06. The firm had revenue of $356.30 million during the quarter, compared to analyst estimates of $376.37 million. Ares Management had a net margin of 5.38% and a return on equity of 40.87%. The firm’s quarterly revenue was down .5% compared to the same quarter last year. equities analysts anticipate that Ares Management LP will post 1.67 EPS for the current fiscal year.
The business also recently announced a dividend, which was paid on Wednesday, February 28th. Stockholders of record on Monday, February 26th were paid a dividend of $0.40 per share. The ex-dividend date was Friday, February 23rd. Ares Management’s dividend payout ratio is currently 262.30%.
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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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