Ares Management (NYSE:ARES) Issues Quarterly Earnings Results

Ares Management (NYSE:ARES) announced its quarterly earnings data on Thursday. The asset manager reported $0.80 earnings per share for the quarter, missing the consensus estimate of $0.93 by ($0.13), Briefing.com reports. The company had revenue of $707.36 million during the quarter, compared to analyst estimates of $814.88 million. Ares Management had a net margin of 12.86% and a return on equity of 21.63%. During the same period in the prior year, the firm earned $0.71 earnings per share.

Ares Management Price Performance

Shares of ARES opened at $131.91 on Friday. Ares Management has a 12-month low of $77.97 and a 12-month high of $139.48. The business has a 50-day simple moving average of $133.10 and a two-hundred day simple moving average of $121.64. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.69. The stock has a market cap of $40.84 billion, a PE ratio of 59.15, a PEG ratio of 1.00 and a beta of 1.17.

Ares Management Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be issued a $0.93 dividend. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $3.72 dividend on an annualized basis and a yield of 2.82%. Ares Management’s payout ratio is presently 166.82%.

Analysts Set New Price Targets

ARES has been the subject of several analyst reports. Royal Bank of Canada lifted their price objective on Ares Management from $135.00 to $145.00 and gave the company an “outperform” rating in a report on Monday, February 12th. JMP Securities reissued a “market perform” rating on shares of Ares Management in a report on Tuesday, April 9th. UBS Group boosted their price target on Ares Management from $156.00 to $160.00 and gave the stock a “buy” rating in a report on Friday, April 12th. Morgan Stanley boosted their price target on Ares Management from $109.00 to $118.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 24th. Finally, Wells Fargo & Company boosted their price target on Ares Management from $112.00 to $126.00 and gave the stock an “equal weight” rating in a report on Friday, February 9th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Ares Management has a consensus rating of “Hold” and an average target price of $125.92.

Insiders Place Their Bets

In other news, Chairman Bennett Rosenthal sold 50,000 shares of the firm’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $129.72, for a total transaction of $6,486,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Chairman Antony P. Ressler sold 143,569 shares of the business’s stock in a transaction on Wednesday, April 17th. The shares were sold at an average price of $131.51, for a total value of $18,880,759.19. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Bennett Rosenthal sold 50,000 shares of the company’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $129.72, for a total transaction of $6,486,000.00. The disclosure for this sale can be found here. Insiders sold a total of 1,494,440 shares of company stock valued at $199,049,946 in the last 90 days. Corporate insiders own 1.20% of the company’s stock.

About Ares Management

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.