Shares of Ares Management Corp (NYSE:ARES) have received a consensus rating of “Buy” from the fourteen brokerages that are presently covering the stock, Marketbeat reports. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $42.22.
Several research analysts recently commented on the stock. Oppenheimer restated a “hold” rating on shares of Ares Management in a report on Wednesday, August 5th. TheStreet upgraded shares of Ares Management from a “c” rating to a “b-” rating in a research note on Tuesday, September 8th. Zacks Investment Research lowered shares of Ares Management from a “buy” rating to a “hold” rating in a research note on Monday, July 13th. Morgan Stanley lifted their price objective on shares of Ares Management from $38.00 to $40.00 and gave the company an “equal weight” rating in a research note on Monday, August 10th. Finally, Bank of America lifted their price objective on shares of Ares Management from $43.00 to $44.00 and gave the company a “buy” rating in a research note on Friday, July 10th.
NYSE ARES traded up $0.31 during mid-day trading on Wednesday, hitting $40.48. The company’s stock had a trading volume of 998,410 shares, compared to its average volume of 913,821. Ares Management has a 52-week low of $20.20 and a 52-week high of $42.40. The stock’s fifty day simple moving average is $40.07 and its two-hundred day simple moving average is $36.34. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.16 and a quick ratio of 0.16. The firm has a market capitalization of $10.44 billion, a P/E ratio of 80.96, a price-to-earnings-growth ratio of 3.24 and a beta of 1.19.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Wednesday, September 16th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.95%. Ares Management’s dividend payout ratio (DPR) is presently 95.81%.
In other Ares Management news, insider R. Kipp Deveer sold 81,393 shares of Ares Management stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $40.05, for a total value of $3,259,789.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Aghili Naseem Sagati sold 8,452 shares of Ares Management stock in a transaction on Monday, August 10th. The stock was sold at an average price of $42.16, for a total transaction of $356,336.32. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,114,565 shares of company stock valued at $44,296,363. Insiders own 59.69% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in ARES. Winslow Evans & Crocker Inc. acquired a new position in Ares Management in the second quarter worth $36,000. CSat Investment Advisory L.P. acquired a new position in shares of Ares Management during the second quarter valued at $36,000. FinTrust Capital Advisors LLC boosted its holdings in shares of Ares Management by 112.0% during the second quarter. FinTrust Capital Advisors LLC now owns 1,060 shares of the asset manager’s stock valued at $42,000 after acquiring an additional 560 shares during the period. Private Advisor Group LLC acquired a new position in shares of Ares Management during the second quarter valued at $44,000. Finally, Steward Partners Investment Advisory LLC lifted its holdings in Ares Management by 111.4% in the second quarter. Steward Partners Investment Advisory LLC now owns 2,279 shares of the asset manager’s stock worth $90,000 after purchasing an additional 1,201 shares during the period. 41.31% of the stock is owned by hedge funds and other 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.
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