Jefferies Financial Group Comments on Ares Management Co.’s Q1 2023 Earnings (NYSE:ARES)

Ares Management Co. (NYSE:ARES – Get Rating) – Equities research analysts at Jefferies Financial Group upped their Q1 2023 earnings estimates for shares of Ares Management in a research report issued to clients and investors on Tuesday, January 10th. Jefferies Financial Group analyst G. O’hara now anticipates that the asset manager will post earnings of $0.86 per share for the quarter, up from their prior forecast of $0.85. The consensus estimate for Ares Management’s current full-year earnings is $3.18 per share. Jefferies Financial Group also issued estimates for Ares Management’s Q2 2023 earnings at $0.96 EPS, Q3 2023 earnings at $1.01 EPS, Q4 2023 earnings at $1.63 EPS, FY2023 earnings at $4.46 EPS and FY2024 earnings at $5.39 EPS.

Ares Management (NYSE:ARES – Get Rating) last posted its earnings results on Thursday, October 27th. The asset manager reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.01. Ares Management had a net margin of 5.08% and a return on equity of 14.90%. The business had revenue of $609.56 million during the quarter, compared to the consensus estimate of $636.07 million. During the same quarter in the previous year, the firm posted $0.62 EPS.

A number of other research firms also recently commented on ARES. Piper Sandler cut their target price on shares of Ares Management to $86.00 in a research report on Tuesday, November 1st. Barclays boosted their price target on shares of Ares Management from $82.00 to $87.00 and gave the stock an “overweight” rating in a research note on Thursday. StockNews.com started coverage on shares of Ares Management in a research report on Wednesday, October 12th. They set a “sell” rating on the stock. Morgan Stanley upped their target price on shares of Ares Management from $76.00 to $82.00 and gave the company an “equal weight” rating in a research report on Monday, October 31st. Finally, Royal Bank of Canada upped their target price on shares of Ares Management from $83.00 to $93.00 and gave the company an “outperform” rating in a research report on Tuesday, November 1st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $86.88.

Ares Management Trading Up 3.6 %

NYSE:ARES opened at $76.75 on Thursday. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.63. Ares Management has a 12 month low of $53.15 and a 12 month high of $86.06. The company has a market cap of $22.58 billion, a PE ratio of 86.24, a price-to-earnings-growth ratio of 0.58 and a beta of 1.29. The company has a 50 day simple moving average of $73.64 and a two-hundred day simple moving average of $70.62.

Ares Management Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 30th. Shareholders of record on Friday, December 16th were paid a $0.61 dividend. The ex-dividend date was Thursday, December 15th. This represents a $2.44 dividend on an annualized basis and a yield of 3.18%. Ares Management’s dividend payout ratio is currently 274.16%.

Insiders Place Their Bets

In other Ares Management news, insider Bennett Rosenthal sold 100,000 shares of the company’s stock in a transaction dated Monday, December 12th. The shares were sold at an average price of $70.14, for a total value of $7,014,000.00. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, insider Bennett Rosenthal sold 100,000 shares of the stock in a transaction that occurred on Monday, December 12th. The shares were sold at an average price of $70.14, for a total transaction of $7,014,000.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Michael J. Arougheti sold 2,983 shares of the stock in a transaction that occurred on Thursday, November 10th. The shares were sold at an average price of $85.02, for a total transaction of $253,614.66. Following the transaction, the chief executive officer now owns 470,138 shares in the company, valued at $39,971,132.76. The disclosure for this sale can be found here. Insiders have sold 1,238,661 shares of company stock worth $97,818,389 in the last three months. Corporate insiders own 47.38% of the company’s stock.

Hedge Funds Weigh In On Ares Management

A number of hedge funds and other institutional investors have recently modified their holdings of ARES. Geneos Wealth Management Inc. boosted its stake in shares of Ares Management by 300.0% during the first quarter. Geneos Wealth Management Inc. now owns 400 shares of the asset manager’s stock valued at $32,000 after purchasing an additional 300 shares in the last quarter. Hexagon Capital Partners LLC lifted its position in Ares Management by 2,395.7% during the third quarter. Hexagon Capital Partners LLC now owns 574 shares of the asset manager’s stock valued at $36,000 after acquiring an additional 551 shares during the last quarter. Benjamin F. Edwards & Company Inc. purchased a new stake in Ares Management during the third quarter valued at approximately $43,000. McClarren Financial Advisors Inc. purchased a new stake in Ares Management during the third quarter valued at approximately $63,000. Finally, First Horizon Advisors Inc. lifted its position in Ares Management by 377.4% during the second quarter. First Horizon Advisors Inc. now owns 1,375 shares of the asset manager’s stock valued at $77,000 after acquiring an additional 1,087 shares during the last quarter. 47.96% of the stock is currently owned by institutional investors.

Ares Management Company Profile

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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.