Ares Management Co. (NYSE:ARES) Receives Average Rating of “Hold” from Brokerages

Ares Management Co. (NYSE:ARESGet Free Report) has received an average recommendation of “Hold” from the thirteen analysts that are currently covering the firm, MarketBeat.com reports. Seven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $128.46.

ARES has been the topic of several research analyst reports. UBS Group raised their target price on Ares Management from $156.00 to $160.00 and gave the stock a “buy” rating in a research report on Friday, April 12th. TD Cowen initiated coverage on shares of Ares Management in a research note on Tuesday, May 7th. They set a “buy” rating and a $154.00 price target on the stock. Jefferies Financial Group decreased their price objective on shares of Ares Management from $131.00 to $127.00 and set a “hold” rating for the company in a research note on Thursday, May 9th. Royal Bank of Canada upped their target price on Ares Management from $135.00 to $145.00 and gave the company an “outperform” rating in a research report on Monday, February 12th. Finally, JPMorgan Chase & Co. upped their price target on shares of Ares Management from $119.00 to $141.00 and gave the company an “overweight” rating in a research report on Friday, February 9th.

View Our Latest Report on ARES

Ares Management Stock Performance

Shares of Ares Management stock opened at $144.56 on Tuesday. The business has a 50-day simple moving average of $135.10 and a 200-day simple moving average of $124.88. The company has a market cap of $44.76 billion, a PE ratio of 64.83, a P/E/G ratio of 1.23 and a beta of 1.17. Ares Management has a one year low of $81.88 and a one year high of $150.12. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.03 and a current ratio of 1.03.

Ares Management (NYSE:ARESGet Free Report) last announced its quarterly earnings data on Thursday, May 2nd. The asset manager reported $0.80 EPS for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.13). The firm had revenue of $707.36 million during the quarter, compared to analysts’ expectations of $814.88 million. Ares Management had a net margin of 12.86% and a return on equity of 21.22%. During the same period in the prior year, the company posted $0.71 earnings per share. On average, equities research analysts forecast that Ares Management will post 4.24 EPS for the current fiscal year.

Ares Management Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be issued a dividend of $0.93 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $3.72 annualized dividend and a yield of 2.57%. Ares Management’s dividend payout ratio is presently 166.82%.

Insiders Place Their Bets

In other Ares Management news, CEO Michael J. Arougheti sold 157,837 shares of the company’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $148.22, for a total value of $23,394,600.14. Following the sale, the chief executive officer now owns 92,163 shares of the company’s stock, valued at $13,660,399.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Michael J. Arougheti sold 157,837 shares of Ares Management stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $148.22, for a total transaction of $23,394,600.14. Following the completion of the sale, the chief executive officer now owns 92,163 shares in the company, valued at approximately $13,660,399.86. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Chairman Antony P. Ressler sold 174,258 shares of the firm’s stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $134.89, for a total transaction of $23,505,661.62. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,488,844 shares of company stock worth $200,239,222. 41.89% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Ares Management

A number of institutional investors have recently added to or reduced their stakes in ARES. Hartford Financial Management Inc. increased its position in shares of Ares Management by 47.4% in the 4th quarter. Hartford Financial Management Inc. now owns 280 shares of the asset manager’s stock worth $33,000 after purchasing an additional 90 shares during the last quarter. Gulf International Bank UK Ltd raised its position in shares of Ares Management by 0.7% during the first quarter. Gulf International Bank UK Ltd now owns 13,420 shares of the asset manager’s stock worth $1,784,000 after purchasing an additional 90 shares during the period. West Oak Capital LLC lifted its holdings in shares of Ares Management by 66.7% during the first quarter. West Oak Capital LLC now owns 250 shares of the asset manager’s stock valued at $33,000 after purchasing an additional 100 shares during the last quarter. Rise Advisors LLC boosted its position in shares of Ares Management by 73.9% in the 4th quarter. Rise Advisors LLC now owns 240 shares of the asset manager’s stock valued at $29,000 after purchasing an additional 102 shares during the period. Finally, Chase Investment Counsel Corp increased its stake in Ares Management by 0.4% in the 1st quarter. Chase Investment Counsel Corp now owns 32,668 shares of the asset manager’s stock worth $4,344,000 after purchasing an additional 115 shares in the last quarter. Hedge funds and other institutional investors own 50.03% of the company’s stock.

About Ares Management

(Get Free Report

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.

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Analyst Recommendations for Ares Management (NYSE:ARES)

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