Ares Management (NYSE:ARES) Reaches New 1-Year High – Time to Buy?

Ares Management Co. (NYSE:ARES) shares reached a new 52-week high on Friday . The stock traded as high as $160.04 and last traded at $160.04, with a volume of 634922 shares traded. The stock had previously closed at $157.05.

Wall Street Analysts Forecast Growth

ARES has been the subject of several analyst reports. JPMorgan Chase & Co. lifted their price target on shares of Ares Management from $141.00 to $143.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Redburn Atlantic began coverage on Ares Management in a report on Tuesday, August 27th. They issued a “neutral” rating and a $140.00 target price on the stock. UBS Group decreased their price target on Ares Management from $160.00 to $158.00 and set a “buy” rating on the stock in a research report on Wednesday, July 10th. Barclays lifted their price objective on Ares Management from $151.00 to $155.00 and gave the company an “overweight” rating in a research report on Monday, August 5th. Finally, The Goldman Sachs Group increased their target price on Ares Management from $145.00 to $160.00 and gave the stock a “buy” rating in a report on Monday. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $142.85.

Ares Management Trading Up 2.0 %

The business’s 50 day simple moving average is $146.77 and its 200-day simple moving average is $140.69. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.05 and a quick ratio of 1.05. The stock has a market capitalization of $49.64 billion, a P/E ratio of 70.43, a PEG ratio of 1.47 and a beta of 1.21.

Ares Management (NYSE:ARES) last released its earnings results on Friday, August 2nd. The asset manager reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.01. The firm had revenue of $788.68 million for the quarter, compared to analyst estimates of $860.09 million. Ares Management had a return on equity of 20.46% and a net margin of 12.53%. During the same quarter in the prior year, the firm posted $0.90 earnings per share. As a group, analysts forecast that Ares Management Co. will post 4.15 EPS for the current year.

Ares Management Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were paid a $0.93 dividend. This represents a $3.72 annualized dividend and a yield of 2.32%. The ex-dividend date of this dividend was Monday, September 16th. Ares Management’s payout ratio is presently 166.82%.

Insiders Place Their Bets

In other news, insider Ryan Berry sold 12,500 shares of the business’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $154.40, for a total value of $1,930,000.00. Following the completion of the transaction, the insider now owns 376,702 shares of the company’s stock, valued at $58,162,788.80. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Ryan Berry sold 12,500 shares of the stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $154.40, for a total transaction of $1,930,000.00. Following the completion of the sale, the insider now owns 376,702 shares of the company’s stock, valued at $58,162,788.80. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael J. Arougheti sold 27,120 shares of Ares Management stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $145.67, for a total value of $3,950,570.40. Following the completion of the sale, the chief executive officer now directly owns 222,880 shares in the company, valued at $32,466,929.60. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 604,316 shares of company stock worth $87,718,000. Company 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 made changes to their positions in the company. Curated Wealth Partners LLC increased its holdings in shares of Ares Management by 199.7% in the second quarter. Curated Wealth Partners LLC now owns 1,658,217 shares of the asset manager’s stock valued at $221,007,000 after purchasing an additional 3,321,434 shares during the last quarter. LRI Investments LLC bought a new position in Ares Management during the first quarter worth about $264,729,000. Massachusetts Financial Services Co. MA raised its stake 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 worth $674,183,000 after purchasing an additional 1,867,933 shares in the last quarter. Lone Pine Capital LLC bought a new stake in Ares Management in the 2nd quarter valued at about $209,884,000. Finally, Millennium Management LLC grew its position in shares of Ares Management by 722.6% during the 2nd quarter. Millennium Management LLC now owns 1,738,148 shares of the asset manager’s stock worth $231,660,000 after purchasing an additional 1,526,856 shares in the last quarter. 50.03% of the stock is owned by institutional investors.

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.