Analysts Set Ares Management Co. (NYSE:ARES) PT at $90.56

Financial News Live · Dec 20, 2022 19:22

Ares Management Co. (NYSE:ARES – Get Rating) has been assigned an average recommendation of "Hold" from the eleven research firms that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, three have given a hold recommendation and five have issued a buy recommendation on the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $86.25.

ARES has been the subject of several research analyst reports. StockNews.com initiated coverage on shares of Ares Management in a report on Wednesday, October 12th. They issued a "sell" rating for the company. Wells Fargo & Company increased their price target on shares of Ares Management from $78.00 to $81.00 and gave the stock an "overweight" rating in a research note on Friday, October 28th. UBS Group increased their price target on shares of Ares Management from $78.00 to $95.00 and gave the stock a "buy" rating in a research note on Tuesday, November 15th. BMO Capital Markets cut shares of Ares Management from an "outperform" rating to a "market perform" rating and set a $93.00 price target for the company. in a research note on Monday, November 14th. Finally, Royal Bank of Canada increased their price target on shares of Ares Management from $83.00 to $93.00 and gave the stock an "outperform" rating in a research note on Tuesday, November 1st.

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Insider Transactions at Ares Management

In other news, insider Bennett Rosenthal sold 100,000 shares of the firm's stock in a transaction on Monday, December 12th. The shares were sold at an average price of $70.14, for a total value of $7,014,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, major shareholder Ares Management Llc purchased 200,000 shares of the business's stock in a transaction dated Monday, September 26th. The stock was acquired at an average price of $1.35 per share, for a total transaction of $270,000.00. Following the acquisition, the insider now directly owns 47,871,580 shares of the company's stock, valued at approximately $64,626,633. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Bennett Rosenthal sold 100,000 shares of the stock in a transaction dated Monday, December 12th. The shares were sold at an average price of $70.14, for a total transaction of $7,014,000.00. The disclosure for this sale can be found here. In the last quarter, insiders bought 1,800,000 shares of company stock worth $2,706,000 and sold 1,238,661 shares worth $97,818,389. Company insiders own 47.38% of the company's stock.

Hedge Funds Weigh In On Ares Management

A number of large investors have recently made changes to their positions in the stock. Wellington Management Group LLP increased its holdings in shares of Ares Management by 2.8% in the 1st quarter. Wellington Management Group LLP now owns 15,801,274 shares of the asset manager's stock valued at $1,283,537,000 after purchasing an additional 430,412 shares in the last quarter. Vanguard Group Inc. increased its holdings in Ares Management by 3.4% during the 1st quarter. Vanguard Group Inc. now owns 14,038,275 shares of the asset manager's stock valued at $1,140,328,000 after acquiring an additional 458,646 shares in the last quarter. BlackRock Inc. increased its holdings in Ares Management by 0.7% during the 1st quarter. BlackRock Inc. now owns 6,191,021 shares of the asset manager's stock valued at $502,895,000 after acquiring an additional 45,745 shares in the last quarter. HMI Capital Management L.P. increased its holdings in Ares Management by 5.0% during the 3rd quarter. HMI Capital Management L.P. now owns 3,987,588 shares of the asset manager's stock valued at $247,031,000 after acquiring an additional 188,618 shares in the last quarter. Finally, William Blair Investment Management LLC increased its holdings in Ares Management by 4.1% during the 1st quarter. William Blair Investment Management LLC now owns 3,405,667 shares of the asset manager's stock valued at $276,642,000 after acquiring an additional 133,227 shares in the last quarter. Hedge funds and other institutional investors own 48.61% of the company's stock.

Ares Management Trading Down 2.3 %

Shares of Ares Management stock opened at $66.57 on Tuesday. The company has a fifty day simple moving average of $73.71 and a 200-day simple moving average of $69.86. Ares Management has a 12-month low of $53.15 and a 12-month high of $86.06. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.63. The stock has a market cap of $19.58 billion, a price-to-earnings ratio of 74.80, a PEG ratio of 0.71 and a beta of 1.27.

Ares Management (NYSE:ARES – Get Rating) last issued its earnings results on Thursday, October 27th. The asset manager reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.01. Ares Management had a net margin of 5.08% and a return on equity of 14.90%. The business had revenue of $609.56 million during the quarter, compared to analysts' expectations of $636.07 million. During the same quarter in the prior year, the business posted $0.62 EPS. On average, equities analysts forecast that Ares Management will post 3.23 EPS for the current fiscal year.

Ares Management Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 30th. Stockholders of record on Friday, December 16th will be paid a $0.61 dividend. This represents a $2.44 annualized dividend and a dividend yield of 3.67%. The ex-dividend date is Thursday, December 15th. Ares Management's dividend payout ratio (DPR) is presently 274.16%.

Ares Management Company Profile

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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.