Ares Management Co. (NYSE:ARES) Given Average Recommendation of “Hold” by Brokerages

Ares Management Co. (NYSE:ARES) has received an average rating of “Hold” from the thirteen brokerages that are presently covering the stock, MarketBeat reports. Seven research analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $131.69.

Several analysts recently issued reports on the company. Jefferies Financial Group reduced their price target on Ares Management from $131.00 to $127.00 and set a “hold” rating for the company in a research note on Thursday, May 9th. TD Cowen reduced their price target on Ares Management from $168.00 to $158.00 and set a “buy” rating for the company in a research note on Monday, July 8th. UBS Group reduced their price target on Ares Management from $160.00 to $158.00 and set a “buy” rating for the company in a research note on Wednesday, July 10th. Barclays lifted their price objective on Ares Management from $150.00 to $151.00 and gave the company an “overweight” rating in a report on Wednesday, July 10th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $150.00 price objective on shares of Ares Management in a report on Wednesday, May 22nd.

Insider Transactions at Ares Management

In other news, insider David B. Kaplan sold 125,000 shares of the business’s stock in a transaction on Friday, June 21st. The stock was sold at an average price of $131.94, for a total transaction of $16,492,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Ares Management news, insider David B. Kaplan sold 125,000 shares of the company’s stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $131.94, for a total value of $16,492,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Bennett Rosenthal sold 150,000 shares of the company’s stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $131.94, for a total value of $19,791,000.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 804,823 shares of company stock valued at $110,568,651. Corporate insiders own 1.20% of the company’s stock.

Hedge Funds Weigh In On Ares Management

A number of institutional investors and hedge funds have recently bought and sold shares of ARES. Compass Wealth Management LLC acquired a new position in Ares Management in the 1st quarter worth about $28,000. Rise Advisors LLC increased its stake in shares of Ares Management by 73.9% in the fourth quarter. Rise Advisors LLC now owns 240 shares of the asset manager’s stock valued at $29,000 after buying an additional 102 shares during the period. Riverview Trust Co acquired a new stake in shares of Ares Management in the first quarter valued at about $29,000. Hartford Financial Management Inc. increased its stake in shares of Ares Management by 47.4% in the fourth quarter. Hartford Financial Management Inc. now owns 280 shares of the asset manager’s stock valued at $33,000 after buying an additional 90 shares during the period. Finally, West Oak Capital LLC grew its stake in Ares Management by 66.7% during the first quarter. West Oak Capital LLC now owns 250 shares of the asset manager’s stock worth $33,000 after purchasing an additional 100 shares during the period. Institutional investors and hedge funds own 50.03% of the company’s stock.

Ares Management Stock Performance

Shares of NYSE ARES opened at $142.55 on Wednesday. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.70. Ares Management has a 12 month low of $96.00 and a 12 month high of $150.12. The stock has a 50 day moving average of $138.87 and a 200-day moving average of $132.39. The company has a market capitalization of $44.16 billion, a P/E ratio of 63.92, a P/E/G ratio of 1.22 and a beta of 1.22.

Ares Management (NYSE:ARES) last released its quarterly earnings results on Thursday, May 2nd. The asset manager reported $0.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.93 by ($0.13). The firm had revenue of $707.36 million during the quarter, compared to the consensus estimate of $814.88 million. Ares Management had a net margin of 12.86% and a return on equity of 21.22%. During the same quarter last year, the firm earned $0.71 earnings per share. As a group, equities research analysts predict that Ares Management will post 4.27 EPS for the current year.

Ares Management Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were issued a dividend of $0.93 per share. The ex-dividend date was Friday, June 14th. This represents a $3.72 dividend on an annualized basis and a dividend yield of 2.61%. Ares Management’s dividend payout ratio (DPR) is currently 166.82%.

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.