Ares Management (NYSE:ARES) Receives New Coverage from Analysts at TD Cowen

TD Cowen assumed coverage on shares of Ares Management (NYSE:ARES) in a report published on Tuesday, Marketbeat reports. The firm issued a buy rating and a $154.00 price objective on the asset manager’s stock.

Other analysts have also recently issued research reports about the company. JMP Securities reaffirmed a market perform rating on shares of Ares Management in a research report on Tuesday, April 9th. Barclays decreased their target price on Ares Management from $153.00 to $150.00 and set an overweight rating for the company in a research report on Friday, May 3rd. Jefferies Financial Group lowered shares of Ares Management from a buy rating to a hold rating and set a $122.00 price target on the stock. in a research report on Tuesday, January 9th. Royal Bank of Canada upped their price objective on shares of Ares Management from $135.00 to $145.00 and gave the stock an outperform rating in a report on Monday, February 12th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Ares Management from $119.00 to $141.00 and gave the stock an overweight rating in a report on Friday, February 9th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Hold and an average target price of $128.08.

Ares Management Trading Up 0.8 %

NYSE:ARES opened at $137.27 on Tuesday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.02 and a current ratio of 1.02. The company has a market capitalization of $42.50 billion, a P/E ratio of 61.56, a P/E/G ratio of 1.00 and a beta of 1.17. The stock’s 50 day moving average price is $133.33 and its 200 day moving average price is $122.20. Ares Management has a 52 week low of $80.07 and a 52 week high of $140.35.

Ares Management (NYSE:ARES) last announced its quarterly earnings results on Thursday, May 2nd. The asset manager reported $0.80 EPS for the quarter, missing the consensus estimate of $0.93 by ($0.13). Ares Management had a return on equity of 21.63% and a net margin of 12.86%. The business had revenue of $707.36 million for the quarter, compared to analyst estimates of $814.88 million. During the same quarter last year, the company earned $0.71 EPS. On average, research analysts forecast that Ares Management will post 4.47 EPS for the current fiscal year.

Ares Management Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be given a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a yield of 2.71%. The ex-dividend date of this dividend is Thursday, June 13th. Ares Management’s dividend payout ratio (DPR) is presently 166.82%.

Insider Buying and Selling at Ares Management

In other news, Chairman Antony P. Ressler sold 143,569 shares of Ares Management stock in a transaction that occurred on Wednesday, April 17th. The stock was sold at an average price of $131.51, for a total transaction of $18,880,759.19. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Chairman Antony P. Ressler sold 143,569 shares of the stock in a transaction on Wednesday, April 17th. The shares were sold at an average price of $131.51, for a total value of $18,880,759.19. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Bennett Rosenthal sold 50,000 shares of Ares Management stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $129.72, for a total transaction of $6,486,000.00. The disclosure for this sale can be found here. Insiders sold a total of 1,494,440 shares of company stock valued at $199,049,946 in the last quarter. Corporate insiders own 41.89% of the company’s stock.

Institutional Trading of Ares Management

Institutional investors have recently bought and sold shares of the stock. Hollencrest Capital Management bought a new position in shares of Ares Management during the third quarter valued at $27,000. Compass Wealth Management LLC bought a new position in Ares Management during the 1st quarter valued at about $28,000. Rise Advisors LLC boosted its position in Ares Management by 73.9% in the fourth quarter. Rise Advisors LLC now owns 240 shares of the asset manager’s stock valued at $29,000 after buying an additional 102 shares in the last quarter. Riverview Trust Co bought a new stake in Ares Management during the first quarter worth about $29,000. Finally, Hartford Financial Management Inc. increased its holdings in shares of Ares Management by 47.4% during the fourth quarter. Hartford Financial Management Inc. now owns 280 shares of the asset manager’s stock worth $33,000 after buying an additional 90 shares in the last quarter. Institutional investors and hedge funds own 50.03% of the company’s stock.

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.