Ares Management Co. (NYSE:ARES – Get Free Report) has received an average recommendation of “Moderate Buy” from the thirteen analysts that are presently covering the company, MarketBeat.com reports. Five investment analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $176.08.
ARES has been the subject of a number of recent research reports. TD Cowen increased their price target on shares of Ares Management from $184.00 to $187.00 and gave the company a “buy” rating in a research report on Monday, November 4th. Keefe, Bruyette & Woods upgraded shares of Ares Management from a “market perform” rating to an “outperform” rating and raised their target price for the company from $166.00 to $202.00 in a research note on Friday, December 20th. Deutsche Bank Aktiengesellschaft upped their price target on Ares Management from $146.00 to $150.00 and gave the stock a “hold” rating in a research report on Monday, November 11th. StockNews.com cut Ares Management from a “hold” rating to a “sell” rating in a research report on Wednesday, January 8th. Finally, JPMorgan Chase & Co. decreased their price target on Ares Management from $176.00 to $174.00 and set an “overweight” rating for the company in a research note on Tuesday, November 5th.
Check Out Our Latest Research Report on Ares Management
Ares Management Trading Up 1.9 %
Ares Management (NYSE:ARES – Get Free Report) last announced its quarterly earnings results on Friday, November 1st. The asset manager reported $0.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.94 by $0.01. The business 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 period last year, the business posted $0.83 EPS. Equities analysts anticipate that Ares Management will post 4.05 EPS for the current fiscal year.
Ares Management Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th were issued a $0.93 dividend. This represents a $3.72 annualized dividend and a dividend yield of 1.92%. The ex-dividend date of this dividend was Tuesday, December 17th. Ares Management’s dividend payout ratio (DPR) is currently 171.43%.
Insider Transactions at Ares Management
In other news, insider David B. Kaplan sold 30,680 shares of the firm’s stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $176.16, for a total transaction of $5,404,588.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider R. Kipp Deveer sold 115,838 shares of Ares Management stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $177.83, for a total transaction of $20,599,471.54. Following the transaction, the insider now directly owns 1,259,162 shares of the company’s stock, valued at approximately $223,916,778.46. This trade represents a 8.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 574,167 shares of company stock worth $99,996,647 over the last 90 days. 1.20% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently added to or reduced their stakes in ARES. Empowered Funds LLC raised its stake in shares of Ares Management by 25.8% during the 4th quarter. Empowered Funds LLC now owns 4,344 shares of the asset manager’s stock worth $769,000 after buying an additional 891 shares during the period. Kingsview Wealth Management LLC increased its holdings in Ares Management by 10.6% in the 4th quarter. Kingsview Wealth Management LLC now owns 1,568 shares of the asset manager’s stock worth $278,000 after acquiring an additional 150 shares in the last quarter. Apollon Wealth Management LLC raised its position in Ares Management by 4.5% during the fourth quarter. Apollon Wealth Management LLC now owns 21,263 shares of the asset manager’s stock worth $3,764,000 after acquiring an additional 915 shares during the period. Joel Isaacson & Co. LLC acquired a new stake in shares of Ares Management in the fourth quarter valued at about $554,000. Finally, Triasima Portfolio Management inc. grew its position in shares of Ares Management by 3.7% in the fourth quarter. Triasima Portfolio Management inc. now owns 43,934 shares of the asset manager’s stock valued at $7,778,000 after purchasing an additional 1,584 shares during the period. Hedge funds and other 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.
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