Shares of Ares Management Co. (NYSE:ARES) have been assigned an average rating of "Buy" from the ten brokerages that are presently covering the stock, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $57.00.
Several equities research analysts have weighed in on the company. BMO Capital Markets upgraded Ares Management from a "market perform" rating to an "outperform" rating and increased their price objective for the stock from $63.00 to $68.00 in a report on Monday. Zacks Investment Research cut Ares Management from a "buy" rating to a "hold" rating in a report on Tuesday, April 20th. Credit Suisse Group reiterated a "neutral" rating and issued a $54.00 price objective on shares of Ares Management in a report on Tuesday, March 2nd. Wells Fargo & Company increased their price objective on Ares Management from $68.00 to $71.00 and gave the stock an "overweight" rating in a report on Monday, April 12th. Finally, Barclays increased their price objective on Ares Management from $58.00 to $62.00 and gave the stock an "overweight" rating in a report on Monday, April 12th.
In other Ares Management news, CFO Michael R. Mcferran sold 100,000 shares of Ares Management stock in a transaction on Tuesday, June 1st. The stock was sold at an average price of $55.23, for a total transaction of $5,523,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider R. Kipp Deveer sold 126,787 shares of Ares Management stock in a transaction on Wednesday, May 26th. The shares were sold at an average price of $54.62, for a total value of $6,925,105.94. The disclosure for this sale can be found here. 49.34% of the stock is currently owned by insiders.
Institutional investors have recently bought and sold shares of the business. Evoke Wealth LLC bought a new stake in shares of Ares Management in the 1st quarter worth $26,000. RMR Wealth Builders bought a new stake in shares of Ares Management in the 4th quarter worth $31,000. Captrust Financial Advisors bought a new stake in shares of Ares Management in the 1st quarter worth $33,000. Canton Hathaway LLC bought a new stake in shares of Ares Management in the 1st quarter worth $39,000. Finally, TCTC Holdings LLC grew its holdings in shares of Ares Management by 174.2% in the first quarter. TCTC Holdings LLC now owns 883 shares of the asset manager's stock worth $49,000 after acquiring an additional 561 shares during the period. 43.13% of the stock is owned by institutional investors and hedge funds.
ARES opened at $58.53 on Friday. The stock's 50 day moving average is $54.76. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.43. Ares Management has a 1 year low of $36.56 and a 1 year high of $59.52. The company has a market cap of $15.34 billion, a price-to-earnings ratio of 41.81, a price-to-earnings-growth ratio of 1.27 and a beta of 1.02.
Ares Management (NYSE:ARES) last posted its quarterly earnings results on Thursday, April 29th. The asset manager reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.05). Ares Management had a return on equity of 15.46% and a net margin of 10.03%. The company had revenue of $411.25 million for the quarter, compared to the consensus estimate of $436.80 million. On average, equities research analysts anticipate that Ares Management will post 2.21 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 30th. Shareholders of record on Wednesday, June 16th will be paid a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 3.21%. The ex-dividend date is Tuesday, June 15th. Ares Management's payout ratio is 101.08%.
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.
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