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

Ares Management Co. (NYSE:ARES) has been assigned an average recommendation of “Moderate Buy” from the eleven research firms that are presently covering the company, Marketbeat Ratings reports. Five research analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $138.73.

A number of research analysts have weighed in on the company. JPMorgan Chase & Co. raised their price target on Ares Management from $141.00 to $143.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. TD Cowen raised their price target on Ares Management from $158.00 to $162.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Royal Bank of Canada restated an “outperform” rating and issued a $150.00 price target on shares of Ares Management in a research note on Wednesday, May 22nd. Deutsche Bank Aktiengesellschaft downgraded Ares Management from a “buy” rating to a “hold” rating and decreased their price target for the company from $176.00 to $132.00 in a research note on Thursday, June 13th. Finally, UBS Group decreased 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.

Ares Management Stock Up 1.9 %

NYSE:ARES opened at $141.54 on Friday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.03 and a current ratio of 1.03. The company has a market cap of $43.85 billion, a PE ratio of 63.47, a PEG ratio of 1.29 and a beta of 1.22. Ares Management has a 52-week low of $96.00 and a 52-week high of $155.53. The stock has a 50-day simple moving average of $139.46 and a 200 day simple moving average of $136.10.

Ares Management (NYSE:ARES) last posted its quarterly earnings data on Friday, August 2nd. The asset manager reported $0.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.98 by $0.01. The business had revenue of $788.68 million during the quarter, compared to the consensus estimate of $860.09 million. Ares Management had a return on equity of 21.22% and a net margin of 12.86%. During the same period last year, the company earned $0.90 earnings per share. On average, sell-side analysts expect that Ares Management will post 4.23 EPS for the current fiscal year.

Ares Management Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be issued a dividend of $0.93 per share. The ex-dividend date is Friday, September 13th. This represents a $3.72 annualized dividend and a yield of 2.63%. Ares Management’s payout ratio is currently 166.82%.

Insider Buying and Selling

In related news, insider R. Kipp Deveer sold 41,676 shares of Ares Management stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $150.21, for a total transaction of $6,260,151.96. Following the completion of the sale, the insider now directly owns 1,075,000 shares of the company’s stock, valued at approximately $161,475,750. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, CEO Michael J. Arougheti sold 157,837 shares of Ares Management stock in a transaction that occurred on 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 directly owns 92,163 shares of the company’s stock, valued at approximately $13,660,399.86. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider R. Kipp Deveer sold 41,676 shares of Ares Management stock in a transaction 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 completion of the transaction, the insider now directly owns 1,075,000 shares of the company’s stock, valued at $161,475,750. The disclosure for this sale can be found here. In the last ninety days, insiders sold 702,930 shares of company stock valued at $97,948,044. Insiders own 1.20% of the company’s stock.

Hedge Funds Weigh In On Ares Management

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in Ares Management by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 16,599,345 shares of the asset manager’s stock valued at $2,207,381,000 after acquiring an additional 206,996 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in Ares Management by 58.5% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 5,058,394 shares of the asset manager’s stock valued at $674,183,000 after acquiring an additional 1,867,933 shares in the last quarter. Franklin Resources Inc. raised its holdings in Ares Management by 1.9% in the 4th quarter. Franklin Resources Inc. now owns 3,872,559 shares of the asset manager’s stock valued at $460,525,000 after acquiring an additional 71,819 shares in the last quarter. LRI Investments LLC raised its holdings in Ares Management by 49.4% in the 2nd quarter. LRI Investments LLC now owns 2,822,565 shares of the asset manager’s stock valued at $376,191,000 after acquiring an additional 933,664 shares in the last quarter. Finally, American Century Companies Inc. raised its holdings in Ares Management by 24.4% in the 2nd quarter. American Century Companies Inc. now owns 2,316,584 shares of the asset manager’s stock valued at $308,754,000 after acquiring an additional 453,657 shares in the last quarter. 50.03% of the stock is owned by institutional investors and hedge funds.

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.