Ares Management (NYSE:ARES) Rating Increased to Hold at StockNews.com

StockNews.com upgraded shares of Ares Management (NYSE:ARES) from a sell rating to a hold rating in a research note published on Tuesday morning.

A number of other research analysts also recently weighed in on the company. TD Cowen increased their price target on Ares Management from $184.00 to $187.00 and gave the company a “buy” rating in a research note on Monday, November 4th. The Goldman Sachs Group raised their price objective on Ares Management from $145.00 to $160.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Royal Bank of Canada increased their target price on Ares Management from $170.00 to $185.00 and gave the stock an “outperform” rating in a report on Monday, November 4th. Deutsche Bank Aktiengesellschaft increased their target price on Ares Management from $146.00 to $150.00 and gave the stock a “hold” rating in a report on Monday, November 11th. Finally, JPMorgan Chase & Co. lowered their target price on Ares Management from $176.00 to $174.00 and set an “overweight” rating for the company in a report on Tuesday, November 5th. Seven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Ares Management presently has a consensus rating of “Hold” and an average price target of $166.36.

Ares Management Stock Up 0.6 %

Shares of ARES opened at $175.05 on Tuesday. The firm has a market capitalization of $54.80 billion, a price-to-earnings ratio of 80.67, a PEG ratio of 1.89 and a beta of 1.19. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.05 and a current ratio of 1.05. The business’s fifty day moving average price is $166.67 and its two-hundred day moving average price is $150.83. Ares Management has a 52 week low of $107.69 and a 52 week high of $180.38.

Ares Management (NYSE:ARES) last posted its quarterly earnings results on Friday, November 1st. The asset manager reported $0.95 earnings per share for the quarter, beating analysts’ consensus estimates of $0.94 by $0.01. The company had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $833.58 million. Ares Management had a return on equity of 19.89% and a net margin of 12.51%. During the same quarter in the prior year, the business posted $0.83 EPS. On average, analysts predict that Ares Management will post 4.06 earnings per share for the current year.

Ares Management Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th will be issued a $0.93 dividend. This represents a $3.72 annualized dividend and a dividend yield of 2.13%. The ex-dividend date is Tuesday, December 17th. Ares Management’s payout ratio is 171.43%.

Insider Activity

In related news, CEO Michael J. Arougheti sold 20,096 shares of Ares Management stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $167.44, for a total transaction of $3,364,874.24. Following the completion of the transaction, the chief executive officer now owns 229,904 shares in the company, valued at approximately $38,495,125.76. This trade represents a 8.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Ryan Berry sold 1,671 shares of Ares Management stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $175.00, for a total value of $292,425.00. Following the transaction, the insider now owns 253,214 shares of the company’s stock, valued at $44,312,450. The trade was a 0.66 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 666,030 shares of company stock worth $109,779,010 in the last quarter. Corporate insiders own 41.89% of the company’s stock.

Hedge Funds Weigh In On Ares Management

A number of hedge funds and other institutional investors have recently bought and sold shares of ARES. Franklin Resources Inc. lifted its position in Ares Management by 0.5% during the third quarter. Franklin Resources Inc. now owns 3,678,177 shares of the asset manager’s stock worth $600,830,000 after acquiring an additional 18,773 shares during the last quarter. Tidal Investments LLC lifted its position in Ares Management by 9.3% during the third quarter. Tidal Investments LLC now owns 12,798 shares of the asset manager’s stock worth $1,994,000 after acquiring an additional 1,091 shares during the last quarter. Sanctuary Advisors LLC lifted its position in Ares Management by 53.8% during the third quarter. Sanctuary Advisors LLC now owns 10,620 shares of the asset manager’s stock worth $1,655,000 after acquiring an additional 3,715 shares during the last quarter. Morse Asset Management Inc lifted its position in Ares Management by 0.7% during the third quarter. Morse Asset Management Inc now owns 14,035 shares of the asset manager’s stock worth $2,187,000 after acquiring an additional 95 shares during the last quarter. Finally, Virtu Financial LLC acquired a new stake in Ares Management during the third quarter worth approximately $2,036,000. Institutional investors own 50.03% of the company’s stock.

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.