American Century Companies Inc. boosted its stake in Ares Management LP (NYSE:ARES) by 0.8% in the fourth quarter, HoldingsChannel.com reports. The firm owned 1,218,527 shares of the asset manager’s stock after buying an additional 9,989 shares during the period. American Century Companies Inc.’s holdings in Ares Management were worth $24,371,000 as of its most recent SEC filing.
Other large investors also recently bought and sold shares of the company. Royal Bank of Canada grew its holdings in Ares Management by 359.8% in the second quarter. Royal Bank of Canada now owns 9,840 shares of the asset manager’s stock worth $177,000 after purchasing an additional 7,700 shares during the period. Commerce Bank acquired a new position in shares of Ares Management during the third quarter valued at about $205,000. Virtu KCG Holdings LLC acquired a new position in shares of Ares Management during the second quarter valued at about $212,000. Goldman Sachs Group Inc. grew its holdings in shares of Ares Management by 37.9% during the second quarter. Goldman Sachs Group Inc. now owns 14,483 shares of the asset manager’s stock valued at $261,000 after buying an additional 3,982 shares during the last quarter. Finally, Stifel Financial Corp acquired a new position in shares of Ares Management during the third quarter valued at about $278,000. Institutional investors and hedge funds own 16.21% of the company’s stock.
A number of research analysts have recently issued reports on ARES shares. Credit Suisse Group reiterated an “outperform” rating and set a $33.00 price objective (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. Zacks Investment Research cut shares of Ares Management from a “buy” rating to a “hold” rating in a report on Friday, January 26th. BidaskClub upgraded shares of Ares Management from a “sell” rating to a “hold” rating in a report on Wednesday, October 25th. Royal Bank of Canada reiterated a “buy” rating on shares of Ares Management in a report on Friday, November 3rd. Finally, Keefe, Bruyette & Woods reiterated a “buy” rating and set a $24.00 price objective on shares of Ares Management in a report on Thursday, January 11th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $24.29.
ILLEGAL ACTIVITY WARNING: “American Century Companies Inc. Boosts Holdings in Ares Management LP (ARES)” was originally reported by Chaffey Breeze and is the property of of Chaffey Breeze. If you are accessing this news story on another website, it was illegally copied and republished in violation of US & international copyright & trademark law. The legal version of this news story can be read at https://www.chaffeybreeze.com/2018/02/15/american-century-companies-inc-boosts-holdings-in-ares-management-lp-ares.html.
Ares Management 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.
Want to see what other hedge funds are holding ARES? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ares Management LP (NYSE:ARES).
Receive News & Ratings for Ares Management Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ares Management and related companies with MarketBeat.com's FREE daily email newsletter.