Ares Management Co. (NYSE:ARES) Given Consensus Rating of “Moderate Buy” by Brokerages

by · The Markets Daily

Ares Management Co. (NYSE:ARES – Get Free Report) has earned an average rating of “Moderate Buy” from the twelve ratings firms that are presently covering the firm, MarketBeat reports. Six analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $141.42.

A number of research analysts recently issued reports on the stock. Wells Fargo & Company initiated coverage on shares of Ares Management in a research report on Thursday, September 12th. They set an “equal weight” rating and a $156.00 target price on the stock. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Ares Management from $134.00 to $133.00 and set a “hold” rating on the stock in a research report on Thursday, August 15th. Barclays upped their price target on Ares Management from $151.00 to $155.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. Redburn Atlantic started coverage on Ares Management in a report on Tuesday, August 27th. They issued a “neutral” rating and a $140.00 price target on the stock. Finally, UBS Group decreased their price objective on Ares Management from $160.00 to $158.00 and set a “buy” rating for the company in a report on Wednesday, July 10th.

View Our Latest Stock Report on Ares Management

Insider Transactions at Ares Management

In related news, insider Ryan Berry sold 12,500 shares of the firm’s stock in a transaction dated 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 transaction, the insider now directly owns 376,702 shares of the company’s stock, valued at $58,162,788.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Ares Management news, Chairman Bennett Rosenthal sold 27,172 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $145.67, for a total value of $3,958,145.24. Following the completion of the transaction, the chairman now owns 222,828 shares in the company, valued at approximately $32,459,354.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Ryan Berry sold 12,500 shares of Ares Management stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $154.40, for a total value of $1,930,000.00. Following the sale, the insider now owns 376,702 shares in the company, valued at $58,162,788.80. The disclosure for this sale can be found here. Insiders sold a total of 604,316 shares of company stock worth $87,718,000 in the last quarter. 1.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Ares Management

Several institutional investors have recently added to or reduced their stakes in the stock. Sanctuary Advisors LLC bought a new position in shares of Ares Management during the 2nd quarter valued at approximately $923,000. Brown Financial Advisors purchased a new position in Ares Management in the second quarter valued at approximately $691,000. Truist Financial Corp grew its holdings in Ares Management by 2.0% during the second quarter. Truist Financial Corp now owns 617,846 shares of the asset manager’s stock valued at $82,346,000 after purchasing an additional 12,007 shares during the period. Chase Investment Counsel Corp increased its position in Ares Management by 1.3% in the second quarter. Chase Investment Counsel Corp now owns 33,106 shares of the asset manager’s stock worth $4,412,000 after buying an additional 438 shares during the last quarter. Finally, EP Wealth Advisors LLC raised its stake in shares of Ares Management by 13.5% in the second quarter. EP Wealth Advisors LLC now owns 23,094 shares of the asset manager’s stock valued at $3,078,000 after buying an additional 2,749 shares during the period. Institutional investors own 50.03% of the company’s stock.

Ares Management Stock Performance

Shares of Ares Management stock opened at $156.91 on Monday. The business has a 50-day moving average price of $145.86 and a two-hundred day moving average price of $139.87. Ares Management has a 1-year low of $96.00 and a 1-year high of $159.95. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.52. The company has a market cap of $48.61 billion, a P/E ratio of 70.36, a PEG ratio of 1.47 and a beta of 1.21.

Ares Management (NYSE:ARES – Get Free Report) last released its earnings results on Friday, August 2nd. The asset manager reported $0.99 EPS for the quarter, topping the consensus estimate of $0.98 by $0.01. The business had revenue of $788.68 million during the quarter, compared to analysts’ expectations 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 last year, the firm posted $0.90 earnings per share. As a group, analysts anticipate that Ares Management will post 4.15 EPS for the current year.

Ares Management Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be paid a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a yield of 2.37%. The ex-dividend date is Monday, September 16th. Ares Management’s dividend payout ratio (DPR) is presently 166.82%.

About Ares Management

(Get Free Report

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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