Ares Management Co. (NYSE:ARES) Given Average Rating of “Moderate Buy” by Brokerages

Ares Management Co. (NYSE:ARES) has earned a consensus recommendation of “Moderate Buy” from the twelve brokerages that are presently covering the stock, MarketBeat Ratings reports. Six equities research analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $155.82.

A number of equities analysts have recently issued reports on the stock. TD Cowen increased their price objective on shares of Ares Management from $162.00 to $175.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. JPMorgan Chase & Co. upped their target price on shares of Ares Management from $141.00 to $143.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Redburn Atlantic began coverage on shares of Ares Management in a report on Tuesday, August 27th. They issued a “neutral” rating and a $140.00 target price on the stock. Wells Fargo & Company upped their target price on shares of Ares Management from $156.00 to $172.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 9th. Finally, UBS Group lowered their target price on shares of Ares Management from $160.00 to $158.00 and set a “buy” rating on the stock in a report on Wednesday, July 10th.

Ares Management Stock Up 3.2 %

Shares of NYSE:ARES opened at $168.73 on Friday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.05 and a current ratio of 1.05. Ares Management has a 52-week low of $96.00 and a 52-week high of $171.14. The company has a market capitalization of $52.28 billion, a PE ratio of 75.66, a price-to-earnings-growth ratio of 1.48 and a beta of 1.22. The company has a fifty day moving average of $150.43 and a 200-day moving average of $142.61.

Ares Management (NYSE:ARES) last issued its quarterly earnings results on Friday, August 2nd. The asset manager reported $0.99 EPS for the quarter, beating analysts’ consensus estimates of $0.98 by $0.01. The business had revenue of $788.68 million for the quarter, compared to analysts’ expectations of $860.09 million. Ares Management had a net margin of 12.53% and a return on equity of 20.46%. During the same quarter in the prior year, the firm posted $0.90 earnings per share. On average, equities analysts predict that Ares Management will post 4.16 EPS for the current fiscal year.

Ares Management Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were given a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a dividend yield of 2.20%. The ex-dividend date was Monday, September 16th. Ares Management’s dividend payout ratio (DPR) is currently 166.82%.

Insider Buying and Selling

In related news, insider Ryan Berry sold 57,500 shares of Ares Management stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $140.74, for a total value of $8,092,550.00. Following the transaction, the insider now owns 456,702 shares in the company, valued at $64,276,239.48. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider R. Kipp Deveer sold 41,676 shares of the company’s stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $150.21, for a total value of $6,260,151.96. Following the transaction, the insider now owns 1,075,000 shares in the company, valued at approximately $161,475,750. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Ryan Berry sold 57,500 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $140.74, for a total transaction of $8,092,550.00. Following the transaction, the insider now directly owns 456,702 shares of the company’s stock, valued at $64,276,239.48. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 624,316 shares of company stock worth $90,919,400 in the last 90 days. 1.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in ARES. Curated Wealth Partners LLC increased its holdings in Ares Management by 199.7% during the second quarter. Curated Wealth Partners LLC now owns 1,658,217 shares of the asset manager’s stock valued at $221,007,000 after buying an additional 3,321,434 shares during the last quarter. LRI Investments LLC purchased a new stake in Ares Management during the first quarter valued at approximately $264,729,000. Massachusetts Financial Services Co. MA increased its holdings in Ares Management by 58.5% during the second quarter. Massachusetts Financial Services Co. MA now owns 5,058,394 shares of the asset manager’s stock valued at $674,183,000 after buying an additional 1,867,933 shares during the last quarter. Lone Pine Capital LLC bought a new position in shares of Ares Management in the second quarter worth approximately $209,884,000. Finally, Millennium Management LLC boosted its position in shares of Ares Management by 722.6% in the second quarter. Millennium Management LLC now owns 1,738,148 shares of the asset manager’s stock worth $231,660,000 after purchasing an additional 1,526,856 shares during the period. 50.03% of the stock is owned by hedge funds and other institutional investors.

Ares Management Company Profile

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.