Fmr LLC lowered its stake in Ares Management L.P. (NYSE:ARES) by 0.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,139,293 shares of the asset manager’s stock after selling 7,000 shares during the period. Fmr LLC owned 0.53% of Ares Management L.P. worth $21,590,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ARES. Navellier & Associates Inc bought a new stake in shares of Ares Management L.P. during the first quarter valued at approximately $299,000. Wells Fargo & Company MN increased its stake in shares of Ares Management L.P. by 733.8% in the first quarter. Wells Fargo & Company MN now owns 553,854 shares of the asset manager’s stock valued at $10,496,000 after buying an additional 487,425 shares during the period. American Century Companies Inc. increased its stake in shares of Ares Management L.P. by 9.5% in the first quarter. American Century Companies Inc. now owns 1,181,639 shares of the asset manager’s stock valued at $22,392,000 after buying an additional 102,837 shares during the period. Sei Investments Co. increased its stake in shares of Ares Management L.P. by 9.7% in the first quarter. Sei Investments Co. now owns 60,906 shares of the asset manager’s stock valued at $1,154,000 after buying an additional 5,366 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in shares of Ares Management L.P. by 66,328.9% in the first quarter. JPMorgan Chase & Co. now owns 479,617 shares of the asset manager’s stock valued at $9,088,000 after buying an additional 478,895 shares during the period. Hedge funds and other institutional investors own 14.58% of the company’s stock.

Shares of Ares Management L.P. (NYSE:ARES) opened at 18.25 on Monday. The stock’s 50 day moving average is $18.16 and its 200 day moving average is $18.86. The firm has a market cap of $3.91 billion, a P/E ratio of 27.20 and a beta of 1.24. Ares Management L.P. has a 12 month low of $14.61 and a 12 month high of $23.25.

Ares Management L.P. (NYSE:ARES) last issued its quarterly earnings results on Monday, May 8th. The asset manager reported $0.30 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.39 by $0.09. The firm had revenue of $172.05 million during the quarter, compared to analysts’ expectations of $182.50 million. Ares Management L.P. had a return on equity of 35.09% and a net margin of 5.65%. During the same period in the previous year, the company earned $0.08 earnings per share. Equities research analysts expect that Ares Management L.P. will post $1.84 EPS for the current year.

TRADEMARK VIOLATION NOTICE: “Fmr LLC Has $21.59 Million Stake in Ares Management L.P. (ARES)” was first posted by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are viewing this story on another site, it was copied illegally and reposted in violation of international copyright and trademark laws. The correct version of this story can be viewed at https://www.thecerbatgem.com/2017/07/17/fmr-llc-has-21-59-million-stake-in-ares-management-l-p-ares.html.

Several analysts have recently commented on the stock. Zacks Investment Research raised shares of Ares Management L.P. from a “hold” rating to a “buy” rating and set a $20.00 price objective for the company in a research report on Tuesday, July 11th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating on shares of Ares Management L.P. in a research report on Tuesday, July 4th. Royal Bank Of Canada assumed coverage on shares of Ares Management L.P. in a research report on Thursday, June 29th. They set an “outperform” rating and a $21.00 price objective for the company. BidaskClub raised shares of Ares Management L.P. from a “strong sell” rating to a “sell” rating in a research report on Wednesday, June 28th. Finally, TheStreet downgraded shares of Ares Management L.P. from a “b-” rating to a “c” rating in a research report on Monday, June 5th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $20.75.

Ares Management L.P. Company Profile

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.

Institutional Ownership by Quarter for Ares Management L.P. (NYSE:ARES)

Receive News & Stock Ratings for Ares Management L.P. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ares Management L.P. and related stocks with our FREE daily email newsletter.