Adage Capital Partners GP L.L.C. Has $41.07 Million Position in Ares Management Co. (NYSE:ARES)

Adage Capital Partners GP L.L.C. increased its stake in Ares Management Co. (NYSE:ARES - Free Report) by 415.6% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 232,000 shares of the asset manager's stock after purchasing an additional 187,000 shares during the quarter. Adage Capital Partners GP L.L.C. owned approximately 0.07% of Ares Management worth $41,071,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Versant Capital Management Inc lifted its stake in shares of Ares Management by 67.0% in the fourth quarter. Versant Capital Management Inc now owns 162 shares of the asset manager's stock worth $29,000 after buying an additional 65 shares during the last quarter. Transce3nd LLC bought a new position in Ares Management in the 4th quarter worth $29,000. Noble Wealth Management PBC acquired a new position in Ares Management during the 4th quarter worth $36,000. GAMMA Investing LLC grew its position in shares of Ares Management by 53.4% in the fourth quarter. GAMMA Investing LLC now owns 227 shares of the asset manager's stock valued at $40,000 after purchasing an additional 79 shares during the last quarter. Finally, Avalon Trust Co bought a new position in shares of Ares Management in the fourth quarter worth about $53,000. 50.03% of the stock is currently owned by institutional investors and hedge funds.

Ares Management Stock Up 0.6 %

Shares of ARES traded up $0.89 on Friday, hitting $153.86. The company's stock had a trading volume of 1,290,705 shares, compared to its average volume of 1,397,114. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.53. The firm has a market capitalization of $48.53 billion, a price-to-earnings ratio of 75.79, a P/E/G ratio of 1.28 and a beta of 1.32. The firm's fifty day moving average price is $149.05 and its 200-day moving average price is $168.01. Ares Management Co. has a fifty-two week low of $110.63 and a fifty-two week high of $200.49.

Ares Management (NYSE:ARES - Get Free Report) last posted its quarterly earnings data on Wednesday, February 5th. The asset manager reported $1.23 EPS for the quarter, missing the consensus estimate of $1.35 by ($0.12). Ares Management had a net margin of 11.35% and a return on equity of 16.64%. On average, equities research analysts expect that Ares Management Co. will post 5.28 EPS for the current year.

Ares Management Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were given a dividend of $1.12 per share. The ex-dividend date of this dividend was Monday, March 17th. This represents a $4.48 dividend on an annualized basis and a yield of 2.91%. This is an increase from Ares Management's previous quarterly dividend of $0.93. Ares Management's dividend payout ratio is 183.25%.

Analyst Ratings Changes

Several equities analysts recently commented on ARES shares. TD Cowen cut their target price on shares of Ares Management from $216.00 to $161.00 and set a "buy" rating for the company in a research note on Wednesday, April 9th. Oppenheimer upgraded shares of Ares Management from a "market perform" rating to an "outperform" rating and set a $159.00 target price for the company in a research note on Wednesday, April 16th. JMP Securities raised Ares Management from a "market perform" rating to a "market outperform" rating and set a $165.00 target price on the stock in a research report on Tuesday, April 8th. The Goldman Sachs Group cut their price target on Ares Management from $188.00 to $166.00 and set a "buy" rating for the company in a report on Thursday, April 3rd. Finally, Wells Fargo & Company decreased their price objective on Ares Management from $187.00 to $156.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $165.00.

Insider Activity

In related news, insider R. Kipp Deveer sold 78,933 shares of the firm's stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $190.02, for a total value of $14,998,848.66. Following the completion of the transaction, the insider now directly owns 1,150,000 shares of the company's stock, valued at approximately $218,523,000. This trade represents a 6.42 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael J. Arougheti sold 110,845 shares of the company's stock in a transaction on Monday, March 24th. The stock was sold at an average price of $153.17, for a total transaction of $16,978,128.65. Following the sale, the chief executive officer now directly owns 1,400,000 shares in the company, valued at $214,438,000. This trade represents a 7.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 329,113 shares of company stock worth $54,409,915 over the last ninety days. Insiders own 0.52% of the company's stock.

About Ares Management

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.