Ares Management (NYSE:ARES) Receives New Coverage from Analysts at Redburn Atlantic

Redburn Atlantic began coverage on shares of Ares Management (NYSE:ARES) in a report published on Tuesday morning, MarketBeat Ratings reports. The firm issued a neutral rating and a $140.00 target price on the asset manager’s stock.

ARES has been the topic of a number of other research reports. JPMorgan Chase & Co. upped their price target on shares of Ares Management from $141.00 to $143.00 and gave the company an overweight rating in a research report on Tuesday, July 30th. UBS Group cut their target price 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. Jefferies Financial Group lowered their target price on Ares Management from $131.00 to $127.00 and set a hold rating for the company in a report on Thursday, May 9th. TD Cowen boosted their price target on Ares Management from $158.00 to $162.00 and gave the company a buy rating in a research note on Monday, August 5th. Finally, Barclays increased their price target on Ares Management from $151.00 to $155.00 and gave the stock an overweight rating in a report on Monday, August 5th. One analyst has rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of Hold and an average target price of $138.92.

Ares Management Price Performance

Shares of ARES opened at $146.40 on Tuesday. The business has a 50-day moving average of $142.32 and a 200-day moving average of $137.97. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.03 and a quick ratio of 1.03. The company has a market capitalization of $45.36 billion, a price-to-earnings ratio of 65.65, a price-to-earnings-growth ratio of 1.29 and a beta of 1.22. Ares Management has a 1 year low of $96.00 and a 1 year high of $155.53.

Ares Management (NYSE:ARES) last released its quarterly earnings results on Friday, August 2nd. The asset manager reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.01. Ares Management had a net margin of 12.86% and a return on equity of 21.22%. The firm had revenue of $788.68 million during the quarter, compared to analyst estimates of $860.09 million. During the same quarter last year, the business earned $0.90 EPS. As a group, equities research analysts anticipate that Ares Management will post 4.23 earnings per share for the current year.

Ares Management Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be given a $0.93 dividend. This represents a $3.72 annualized dividend and a yield of 2.54%. The ex-dividend date of this dividend is Monday, September 16th. Ares Management’s payout ratio is currently 166.82%.

Insider Buying and Selling at Ares Management

In related news, Chairman Bennett Rosenthal sold 150,000 shares of the company’s stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $131.94, for a total value of $19,791,000.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, Chairman Bennett Rosenthal sold 150,000 shares of the firm’s stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $131.94, for a total value of $19,791,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider R. Kipp Deveer sold 41,676 shares of the company’s stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $150.21, for a total value of $6,260,151.96. Following the sale, the insider now owns 1,075,000 shares of the company’s stock, valued at approximately $161,475,750. The disclosure for this sale can be found here. In the last 90 days, insiders sold 703,312 shares of company stock worth $98,664,278. 1.20% of the stock is owned by corporate insiders.

Institutional Trading of Ares Management

Institutional investors and hedge funds have recently made changes to their positions in the company. Compass Wealth Management LLC bought a new stake in Ares Management in the 1st quarter worth about $28,000. Riverview Trust Co bought a new position in shares of Ares Management during the 1st quarter worth approximately $29,000. West Oak Capital LLC boosted its stake in shares of Ares Management by 66.7% in the 1st quarter. West Oak Capital LLC now owns 250 shares of the asset manager’s stock worth $33,000 after buying an additional 100 shares during the last quarter. Global Retirement Partners LLC grew its holdings in shares of Ares Management by 555.0% in the first quarter. Global Retirement Partners LLC now owns 262 shares of the asset manager’s stock valued at $35,000 after acquiring an additional 222 shares in the last quarter. Finally, TFO Wealth Partners LLC increased its position in shares of Ares Management by 29,200.0% during the fourth quarter. TFO Wealth Partners LLC now owns 293 shares of the asset manager’s stock valued at $35,000 after acquiring an additional 292 shares during the last quarter. Hedge funds and other institutional investors 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.