Ares Management Corporation (NYSE:ARES) Given Consensus Recommendation of "Moderate Buy" by Brokerages

Shares of Ares Management Corporation (NYSE:ARES - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the sixteen research firms that are covering the company, Marketbeat reports. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $174.94.

Several analysts have issued reports on ARES shares. Oppenheimer downgraded shares of Ares Management from an "outperform" rating to a "market perform" rating in a research note on Thursday, May 15th. Wells Fargo & Company upped their price target on Ares Management from $182.00 to $189.00 and gave the company an "overweight" rating in a research report on Friday, May 23rd. TD Cowen reduced their price objective on Ares Management from $216.00 to $161.00 and set a "buy" rating for the company in a research note on Wednesday, April 9th. The Goldman Sachs Group lowered their target price on Ares Management from $188.00 to $166.00 and set a "buy" rating on the stock in a research note on Thursday, April 3rd. Finally, Bank of America reduced their price target on shares of Ares Management from $221.00 to $201.00 and set a "buy" rating for the company in a research report on Friday, April 4th.

Insiders Place Their Bets

In other Ares Management news, Chairman Bennett Rosenthal sold 40,000 shares of the business's stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $169.37, for a total transaction of $6,774,800.00. Following the completion of the transaction, the chairman now owns 85,000 shares of the company's stock, valued at $14,396,450. The trade was a 32.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider David B. Kaplan sold 33,145 shares of the company's stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $165.12, for a total transaction of $5,472,902.40. The disclosure for this sale can be found here. Insiders sold 873,145 shares of company stock valued at $146,204,353 over the last 90 days. 0.52% of the stock is currently owned by company insiders.

Institutional Trading of Ares Management

Several hedge funds have recently added to or reduced their stakes in ARES. Transce3nd LLC acquired a new position in shares of Ares Management during the fourth quarter valued at about $29,000. Johnson Financial Group Inc. raised its holdings in Ares Management by 104.8% in the 4th quarter. Johnson Financial Group Inc. now owns 170 shares of the asset manager's stock valued at $30,000 after acquiring an additional 87 shares in the last quarter. Elequin Capital LP acquired a new position in Ares Management in the 4th quarter valued at approximately $33,000. Redmont Wealth Advisors LLC bought a new stake in shares of Ares Management in the 1st quarter worth approximately $28,000. Finally, Noble Wealth Management PBC acquired a new stake in shares of Ares Management during the 4th quarter worth approximately $36,000. Institutional investors own 50.03% of the company's stock.

Ares Management Price Performance

NYSE ARES opened at $169.83 on Wednesday. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.61. Ares Management has a 1 year low of $110.63 and a 1 year high of $200.49. The company has a market cap of $55.46 billion, a PE ratio of 99.90, a PEG ratio of 1.30 and a beta of 1.38. The stock's 50-day moving average price is $161.86 and its two-hundred day moving average price is $166.64.

Ares Management (NYSE:ARES - Get Free Report) last released its earnings results on Monday, May 5th. The asset manager reported $1.09 earnings per share for the quarter, topping the consensus estimate of $0.94 by $0.15. Ares Management had a net margin of 9.73% and a return on equity of 16.29%. The business had revenue of $951.96 million for the quarter, compared to the consensus estimate of $914.00 million. During the same period last year, the firm posted $0.80 earnings per share. On average, analysts predict that Ares Management will post 5.28 EPS for the current year.

Ares Management Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be paid a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a dividend yield of 2.64%. The ex-dividend date of this dividend is Monday, June 16th. Ares Management's payout ratio is 263.53%.

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.

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