American Century Companies Inc. Grows Stake in Ares Management LP Unit (ARES)

American Century Companies Inc. grew its position in Ares Management LP Unit (NYSE:ARES) by 14.5% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 1,671,518 shares of the asset manager’s stock after buying an additional 211,749 shares during the period. American Century Companies Inc. owned 1.71% of Ares Management LP Unit worth $34,600,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Alleghany Corp DE acquired a new stake in shares of Ares Management LP Unit in the 1st quarter valued at $208,650,000. Millennium Management LLC acquired a new stake in shares of Ares Management LP Unit during the first quarter worth $25,267,000. PM CAPITAL Ltd grew its stake in shares of Ares Management LP Unit by 43.0% during the first quarter. PM CAPITAL Ltd now owns 1,172,959 shares of the asset manager’s stock worth $25,101,000 after purchasing an additional 352,800 shares during the period. Mendon Capital Advisors Corp acquired a new stake in shares of Ares Management LP Unit during the first quarter worth $23,923,000. Finally, Federated Investors Inc. PA acquired a new stake in shares of Ares Management LP Unit during the first quarter worth $21,950,000. 39.62% of the stock is owned by institutional investors.

Shares of Ares Management LP Unit stock opened at $21.25 on Tuesday. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.41. Ares Management LP Unit has a 12 month low of $17.65 and a 12 month high of $25.95. The firm has a market cap of $2.07 billion, a P/E ratio of 11.01, a P/E/G ratio of 1.55 and a beta of 1.29.

Ares Management LP Unit (NYSE:ARES) last posted its earnings results on Thursday, August 2nd. The asset manager reported $0.34 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.40 by ($0.06). The business had revenue of $204.20 million for the quarter, compared to the consensus estimate of $320.11 million. Ares Management LP Unit had a return on equity of 30.98% and a net margin of 8.70%. The business’s revenue was down 63.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.69 earnings per share. equities research analysts anticipate that Ares Management LP Unit will post 1.55 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 28th. Shareholders of record on Friday, September 14th will be issued a dividend of $0.28 per share. The ex-dividend date is Thursday, September 13th. This represents a $1.12 annualized dividend and a yield of 5.27%. Ares Management LP Unit’s dividend payout ratio is presently 58.03%.

ARES has been the subject of a number of analyst reports. Oppenheimer initiated coverage on Ares Management LP Unit in a research note on Monday, April 30th. They set an “outperform” rating and a $30.00 price objective for the company. CIBC initiated coverage on Ares Management LP Unit in a research note on Tuesday, May 1st. They set an “outperform” rating for the company. ValuEngine cut Ares Management LP Unit from a “buy” rating to a “hold” rating in a research note on Wednesday, June 6th. Zacks Investment Research raised Ares Management LP Unit from a “sell” rating to a “hold” rating in a research note on Wednesday, June 6th. Finally, Jefferies Financial Group initiated coverage on Ares Management LP Unit in a research note on Thursday, June 28th. They set a “buy” rating for the company. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and nine have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $26.86.

In other Ares Management LP Unit news, CFO Michael R. Mcferran bought 7,500 shares of Ares Management LP Unit stock in a transaction on Monday, August 13th. The shares were purchased at an average cost of $21.21 per share, for a total transaction of $159,075.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Ares Management LP Unit Company Profile

Ares Management, L.P. 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.

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Institutional Ownership by Quarter for Ares Management LP Unit (NYSE:ARES)

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